For the Quarter Ending March 2026
Sulphur Prices in North America
- In the USA, the Sulphur Price Index rose by 25.97% quarter-over-quarter, reflecting tightening and fertilizer demand.
- The average Sulphur price for the quarter was approximately USD 540.00/MT, across Gulf Coast terminals.
- Sulphur Spot Price momentum turned bullish as tighter shipments pushed the regional Price Index higher.
- Sulphur Price Forecasts were revised upward on geopolitical shipping risks and anticipated pre-spring fertilizer procurement.
- Sulphur Production Cost Trend remained steady as crude feedstock prices stayed range-bound, limiting cost pressure.
- Sulphur Demand Outlook firmed as phosphate fertilizer producers increased acid runs ahead of spring application.
- Sulphur Price Index gains matched declining Gulf Coast stocks and export inquiries to Latin America.
- Refinery adjustments and Middle East shipping disruptions constrained exports, supporting firmer Sulphur Spot Price bids.
Why did the price of Sulphur change in March 2026 in North America?
- Seaborne shipment tightening from the Middle East reduced CFR availability, tightening supply into Gulf terminals.
- Seasonal pre-spring fertilizer restocking increased offtake by coastal acid plants, supporting higher transactional Sulphur demand.
- Stable refinery runs and steady feedstock costs limited relief, amplifying price response to export disruptions.
Sulphur Prices in APAC
- In Indonesia, the Sulphur Price Index rose by 35.0% quarter-over-quarter, driven by persistently tight imports
- The average Sulphur price for the quarter was approximately USD 605.00/MT, reflecting weighted spot activity
- Sulphur Spot Price tightened as arrivals delayed, lifting the Sulphur Price Index across Indonesian terminals
- Sulphur Price Forecast shows near-term firmness due to shipping bottlenecks and elevated freight insurance costs
- Sulphur Production Cost Trend increased as higher natural-gas benchmarks raised recovery costs at origin terminals
- Sulphur Demand Outlook remains supportive as fertilizer and nickel hydrometallurgy ramping sustain steady procurement activity
- Port inventories thinned after delayed shipments, pressuring offers and lifting the Sulphur Price Index regionally
- Domestic refinery recovered output provided modest relief, leaving Indonesia import-dependent and price-sensitive to supply shocks
Why did the price of Sulphur change in March 2026 in APAC?
- Strait of Hormuz disruptions curtailed Middle East loadings, sharply reducing immediate import availability into Indonesia
- Higher freight rates and war-risk insurance increased landed costs, incentivising term offers and spot premia
- Downstream fertilizer and nickel demand remained robust, supporting offtake even as inventories tightened at terminals
Sulphur Prices in Europe
- In Germany, the Sulphur Price Index rose by 35.0% quarter-over-quarter, reflecting export constraints and tightness
- Average Sulphur price for the quarter was approximately USD 468.00/MT, based on Hamburg FOB settlements
- Sulphur Spot Price firmed as tighter imports, higher freight and delayed cargoes reduced available parcels
- Sulphur Price Forecast indicates upside risk given ongoing shipping disruptions and elevated energy-related production costs
- Sulphur Production Cost Trend rose with higher natural gas, freight increasing processing and logistics expenses
- Sulphur Demand Outlook stays supportive from fertilizer restocking and battery-material demand despite modest TiO2 weakness
- Sulphur Price Index volatility increased as export rerouting and logistical delays pressured European physical flows
- Inventories tightened at some hubs after refinery outages, prompting cautious buying and higher forward premia
Why did the price of Sulphur change in March 2026 in Europe?
- Strait of Hormuz disruptions forced rerouting, extending voyage times, increasing freight, reducing inbound sulphur availability
- Higher natural gas and energy costs raised processing expenses, pressuring margins and supporting firmer offers
- Seasonal fertilizer restocking and battery-material offtake increased prompt demand, tightening merchant stocks despite downstream softness
Sulphur Prices in MEA
- In Saudi Arabia, the Sulphur Price Index rose by 39.51% quarter-over-quarter, driven by export tightness.
- The average Sulphur price for the quarter was approximately USD 572.00/MT, per regional free-on-board assessments.
- Saudi Sulphur Spot Price tightened as Ma'aden demand and front-loaded Indian procurement drained prompt terminals.
- Sulphur Price Forecast indicates near-term firmness due to logistical disruptions and sustained fertilizer sector buying.
- Rising energy and insurance costs altered Sulphur Production Cost Trend, pressuring producer margins further regionally.
- Sulphur Demand Outlook remains strong as Ma'aden capacity expansions and fertiliser procurement underpin consumption growth.
- Sulphur Price Index gains were amplified by reduced terminal inventories, constrained loadings and forward buying.
- Producers maintained disciplined FOB loadings, keeping offers firm while limiting spot availability for merchant traders.
Why did the price of Sulphur change in March 2026 in MEA?
- Heightened regional conflict disrupted shipping routes and raised insurance costs, tightening prompt export availability significantly.
- Ma'aden phosphate project approvals boosted domestic feedstock consumption, reducing exportable sulphur volumes and tightening markets.
- Front-loaded procurement by Indian and Moroccan buyers accelerated offtake, drawing down terminal inventories, firming prices.
For the Quarter Ending December 2025
Sulphur Prices in North America
- In USA, the Sulphur Price Index rose by 47.31% quarter-over-quarter, reflecting supply constraints, fertilizer demand.
- The average Sulphur price for the quarter was approximately USD 428.67/MT, based on CFR trade.
- Sulphur Spot Price rose on import parity tightness, tightening Price Index and coastal terminal drawdowns.
- Sulphur Price Forecast signals firmness; import delays and freight pressures sustain higher landed costs near-term.
- Sulphur Production Cost Trend shows easing domestically, yet freight and handling keep input cost pressure.
- Sulphur Demand Outlook remains robust for fertilizer and industrial acid sectors, underpinning Price Index momentum.
- Inventory draws and export demand tightened availability, while major producer maintenance reduced marketable tonnes significantly.
- Operational upsets at select refineries elevated short-term risk; balanced domestic runs partly tempered further upside.
Why did the price of Sulphur change in December 2025 in North America?
- Import disruptions and rail congestion reduced seaborne inflows, tightening physical supply for Gulf Coast buyers.
- Refinery maintenance and select shutdowns curtailed recovered sulphur volumes, significantly shrinking merchant availability and inventories.
- Elevated freight costs and strong global fertilizer demand increased landed costs, strengthened seller pricing leverage.
Sulphur Prices in APAC
- In Indonesia, the Sulphur Price Index rose by 50.84% quarter-over-quarter, driven by import tightness and fertilizer and HPAL demand.
- The average Sulphur price for the quarter was approximately USD 448.00/MT, per CFR Tanjung Priok weekly assessments.
- Sulphur Spot Price strength reflected tight cargo availability and aggressive importer bids, pressuring regional prompt offers higher.
- Sulphur Price Forecast for early 2026 suggests moderated gains as pre-planting restocking balances with improving import flows.
- Sulphur Production Cost Trend remained firm due to steady crude and elevated freight, supporting sustained landed-price pressure.
- Sulphur Demand Outlook is constructive as fertilizer stockbuilding and HPAL ramp-ups maintain robust offtake into Q1.
- Inventory draws at main hubs tightened the Sulphur Price Index, amplifying spot volatility and importer urgency.
- Major refinery recovered-sulphur output remained steady but exporters curtailed spot allocations, reinforcing tight CFR offers and premiums.
Why did the price of Sulphur change in December 2025 in APAC?
- Reduced Middle Eastern recovered-sulphur exports and withheld spot allocations tightened supply into Southeast Asia markets.
- Higher freight rates and rupiah depreciation elevated landed costs, pressuring importers to accept higher offers.
- Robust fertilizer pre-planting procurement and HPAL nickel acid demand sustained strong offtake versus limited domestic by-product volumes.
Sulphur Prices in Europe
- In Germany, the Sulphur Price Index rose by 49.8559% quarter-over-quarter, due to tight supply constraints.
- The average Sulphur price for the quarter was approximately USD 346.67/MT across FOB Hamburg assessments.
- Sulphur Spot Price rose; low inventories and port delays constrained supply, lifting domestic Price Index.
- Sulphur Price Forecast points to sustained firmness from seasonal fertilizer buying and ongoing refinery turnarounds.
- Sulphur Production Cost Trend shows upward pressure from higher Brent and electricity tariffs pressuring margins.
- Sulphur Demand Outlook remains strong as fertilizer and agrochemical sectors increase offtake ahead of spring.
- Traders' cautious inventories and export interest amplified the Sulphur Price Index, compressing spot availability nationwide.
- Refinery maintenance at Brunsbuettel, Schwedt and Vohburg-Neustadt reduced recovery output, tightening supply, pressuring Price Index.
- Improving post-mid-November logistics may ease tightness, yet Sulphur Spot Price momentum likely remains elevated short-term.
Why did the price of Sulphur change in December 2025 in Europe?
- Domestic refinery turnarounds reduced sulphur recovery volumes, directly constraining supply into German markets and exports.
- High fertilizer offtake and seasonal agricultural buying lifted immediate demand and tightened merchant sulphur availability.
- Rising Brent and elevated electricity costs increased production cost pressures while earlier Rhine transport disruptions limited inventories.
Sulphur Prices in MEA
- In Saudi Arabia, the Sulphur Price Index rose by 51.29% quarter-over-quarter, driven by tightening supply.
- The average Sulphur price for the quarter was approximately USD 410.00/MT, reflecting stronger export offers.
- Sulphur Spot Price firmed as Asian restocking and constrained Russian Central Asian volumes tightened availability.
- Sulphur Price Forecast indicates near-term firmness as commissioning delays and inventory declines support higher offers.
- Sulphur Production Cost Trend remained low due to sour gas feedstocks despite rising freight costs.
- Sulphur Demand Outlook stays strong from phosphate and battery sectors, underpinning continuing offtake and restocking.
- Sulphur Price Index volatility rose as traders withheld cargoes, amplifying short-term tightness and upward pressure.
- Export nominations to India, Morocco, China drew down Ras Al-Khair, Jubail inventories, limiting prompt availability.
Why did the price of Sulphur change in December 2025 in MEA?
- Refinery and SRU maintenance reduced merchant sulphur output, tightening prompt availability and elevating FOB offers.
- Higher freight and insurance for Red Sea transits eroded netbacks, prompting sellers to increase offers.
- Robust import demand and restocking by phosphate buyers absorbed incremental volumes, preventing price declines immediately.
For the Quarter Ending September 2025
North America
- In USA, the Sulphur Price Index fell by 1.91% quarter-over quarter, driven by import cost pressures.
- The average Sulphur price for the quarter was approximately USD 291.00/MT, reflecting balanced supply dynamics.
- Logistics delays tightened terminals, lifting the Sulphur Spot Price while the Price Index remained sensitive.
- The Sulphur Price Forecast anticipates short-term firmness driven by fertilizer restocking and battery-grade acid demand.
- Shifts in feedstock and refinery runs influenced the Sulphur Production Cost Trend, supporting producer margins.
- Sulphur Demand Outlook improved as fertilizer and copper-leach requirements increased, underpinning stronger term-volume spot bids.
- Elevated inventories with firm export inquiries intermittently tightened availability, keeping the Sulphur Price Index responsive.
- Major Gulf Coast refiners' steady throughputs-maintained supply, yet vessel and rail delays elevated costs.
Why did the price of Sulphur change in September 2025 in North America?
- Rising Canadian export costs and Asian purchases raised US import parity, tightening merchant sulphur availability.
- Strong fertilizer and battery-grade acid demand increased offtake, offsetting refinery output and pressuring spot markets.
- Vessel timing and railcar shortages raised transport costs, increasing supply friction and influencing near-term prices.
APAC
- In Indonesia, the Sulphur Price Index fell by 1.11% quarter-over-quarter in Q3 2025, reflecting oversupply dominance
- The average Sulphur price for the quarter was approximately USD 297.00/MT based on CFR Tanjung Priok cargoes
- Elevated port inventories pressured Sulphur Spot Price as steady Middle Eastern inflows outpaced domestic offtake
- The Sulphur Demand Outlook strengthened as HPAL, and fertiliser restocking lifted industrial procurement for planting
- Lower diesel and steady feedstock supply tempered the Sulphur Production Cost Trend, easing landed costs
- Short-term Sulphur Price Forecast shows firming risks as burner ramps and merchant availability tightens further
- Recent tender activity and downstream bids lifted the Sulphur Price Index, signalling tighter short-term balance
- Robust Middle Eastern liftings and domestic burner expansions supported sustained export demand and procurement urgency
Why did the price of Sulphur change in September 2025 in APAC?
- Industrial restocking and burner throughput intensified import enquiries, tightening port inventories and lifting spot bids
- Smooth freight lanes and steady Middle East supply limited logistics premiums, moderating landed-cost volatility slightly
- Tender-driven buying and temporary import paperwork tightening prompted forward purchases, amplifying short-term procurement urgency notably
Europe
- In Germany, the Sulphur Price Index rose by 7.26% quarter-over-quarter, due to stocking and planting.
- The average Sulphur price for the quarter was approximately USD 231.33/MT reflecting cautious buying patterns.
- Sulphur Spot Price firmed as planting restocking resumed, tightening prompt supply and lifting regional offtake.
- Sulphur Price Forecast points to limited upside, supported by restocking and constrained FOB availability conditions.
- Sulphur Production Cost Trend remained muted as feedstock and energy prices held steady throughout quarter.
- Sulphur Demand Outlook improved with planting season restart, elevating offtake and raising the Price Index.
- Inventories stayed sufficient, but Rhine logistics and tenders elevated landed costs, capping Sulphur Spot Price.
- Major producers ran without outages, maintaining output reliability and keeping the regional Price Index balanced.
Why did the price of Sulphur change in September 2025 in Europe?
- Resumption of planting season increased agrochemical procurement, driving restocking and immediate downstream demand uplift pressure.
- Balanced refinery recoveries and steady domestic output-maintained supply, yet Rhine surcharges tightened prompt availability.
- Stable feedstock and energy costs limited production cost inflation, while buyer caution delayed contractual purchases.
MEA
- In Saudi Arabia, the Sulphur Price Index fell by 4.24% quarter-over-quarter, reflecting subdued export demand.
- The average Sulphur price for the quarter was approximately USD 271/MT FOB Al Jubail levels.
- Sulphur Spot Price firmed as Asian procurement increased and export availabilities tightened, lifting seller confidence.
- Sulphur Production Cost Trend remained stable as feedstock crude prices held steady, limiting inflationary pressure.
- Sulphur Demand Outlook improved with domestic plantation season and fertilizer buying from China and Morocco.
- Sulphur Price Forecast projects near-term firmness, modest corrections as restocking and seasonal demand dynamics normalize.
- Sulphur Price Index fluctuations mirrored shipping risk, port congestion and regional geopolitical tensions affecting export flows significantly.
- Inventory builds and steady refinery recoveries weighed on FOB values, though scheduled maintenance could tighten supply later.
Why did the price of Sulphur change in September 2025 in MEA?
- Tighter export inquiries from Asia increased procurement, tightening available spot parcels and elevating FOB quotations.
- Logistics disruptions, higher freight and insurance costs reduced arbitrage, constraining exports and supporting domestic FOB.
- Seasonal domestic planting increased demand while ample refinery recovery sustained supply, resulting in firmer pricing.
For the Quarter Ending June 2025
North America
- The Sulphur Spot Price in North America inclined by 32.36% quarter-over-quarter in Q2 2025, reflected in a bullish Price Index.
- The US sulphur market demonstrated a largely bullish trend in the early part of Q2, supported by tight supply conditions, firm demand from the agrochemical sector, and global geopolitical uncertainties.
- Import costs from Canada remained a key factor, often dictating price movements, with exemptions under the USMCA helping to stabilise pricing despite global tariff volatility.
- Mid-quarter, the Price Index stabilised at higher levels, driven by consistent demand and a gradual normalisation of domestic production, despite earlier refinery disruptions on the Gulf and West Coasts.
- Toward the end of Q2, weaker import costs from Canada and easing supply pressures led to a temporary dip in the Price Index, although bullish undertones persisted due to global freight disruptions and sustained seasonal demand.
- Overall, the quarter reflected a stable to bullish market tone, shaped by a dynamic balance of supply chain factors, seasonal demand cycles, and international trade developments.
Why did the price of Sulphur change in July 2025 in the US?
- The sulphur market in the US experienced a slight downward trend in July 2025, driven by stable imports from Canada, balanced domestic production, and sufficient inventory levels, which collectively eased market pressure.
- The sulphur Production Cost Trend remained steady as refinery operations normalised and Canadian exports flowed without major disruption, despite ongoing maintenance work and minor logistical adjustments.
- The sulphur Demand Outlook weakened due to the fertiliser off-season, leading buyers to adopt a conservative procurement strategy focused on existing stockpiles, and the sulphur Price Forecast points to continued stability unless market dynamics shift.
APAC
- The Sulphur Spot Price in APAC inclined by 30.29% quarter-over-quarter in Q2 2025, reflected in a bullish Price Index.
- The sulphur Price Index in Indonesia followed a largely bullish to stable trajectory in Q2, initially supported by strong demand from the agrochemical sector during the peak plantation season.
- Consistent import flows from Middle Eastern suppliers played a major role in supporting the firm Price Index amid the fluctuations in global markets.
- As the quarter progressed, market activity remained cautious, with buyers maintaining a conservative procurement approach due to elevated international offers and concerns over future demand.
- Mid to late Q2 witnessed a slight softening in the Price Index, as industrial buyers, especially in the battery metals sector, slowed operations and opted to monitor trends.
- Despite seasonal demand, the market remained balanced due to adequate inventories, and restrained buyer participation, leading to stable pricing dynamics.
Why did the price of Sulphur change in July 2025 in Asia?
- The sulphur Spot Price in Asia experienced a decline in July 2025 amid the consistent shipments from Middle Eastern exporters, supported by eased port congestion.
- On the sulphur Demand Outlook side, many industrial consumers opted for cautious procurement strategies. With inventories already stocked and end-user requirements well-covered through July, spot market activity remained minimal.
- The expectation of further declines in the sulphur Price Forecast led buyers to postpone purchases, reinforcing the downward trend in regional spot prices.
Europe
- The Sulphur Spot Price in Europe inclined by 40.49% quarter-over-quarter in Q2 2025, reflected in a bullish Price Index.
- The sulphur Price Index in Germany showed a consistent upward trend throughout Q2 2025, driven primarily by constrained supply and high procurement activity from key downstream sectors like agrochemicals.
- Operational disruptions at major facilities—including Bayernoil and Grillo Werke—contributed to tight availability, while logistical bottlenecks due to low Rhine River water levels added further pressure.
- Despite some recovery in refinery output and easing of transport constraints later in the quarter, the Price Index remained bullish due to lingering supply imbalances.
- Seasonal demand from the agrochemical industry initially supported strong buying activity, though this tapered off toward the end of the quarter as the region entered the traditionally slower summer period; however, limited availability continued to sustain a firm market sentiment.
Why did the price of Sulphur change in July 2025 in Europe?
- In July 2025, sulphur spot price in Europe remained stable amid the start of summer holiday season, which led to reduced market activity and cautious buying behavior.
- The sulphur demand outlook was moderate as plantation activity across European countries slowed, and most buyers were well-stocked, limiting the need for additional spot purchases.
- Sulphur production cost trend remained steady, with no major disruptions in supply, allowing suppliers to hold their quotations despite mild upward pressure in some contract negotiations.
- The sulphur price forecast indicated continued market stability, supported by a balanced supply-demand environment and early contract settlements ahead of the seasonal slowdown.
MEA
- The Sulphur Spot Price in Europe inclined by 35.22% quarter-over-quarter in Q2 2025, reflected in a bullish Price Index.
- The sulphur Price Index in Saudi Arabia showed strong bullish momentum during early Q2, supported by seasonal demand from agricultural and industrial sectors in key export markets such as India, China, and Southeast Asia.
- Rising production costs—driven partly by higher crude oil values and revised regional pricing announcements—further elevated the Price Index.
- Mid-quarter trends remained firm due to persistent export demand and constrained supply, as regional producers increased output to meet international orders.
- However, as the quarter progressed, sentiment shifted towards caution, with market participants showing resistance amid high offers and stable inventory levels.
- By June, the sulphur Price Index moderated, reflecting unsold cargoes and subdued buying interest from major importers relying on existing stocks.
- The domestic market remained stable due to low seasonal demand, while anticipation of resumed Chinese phosphate exports and upcoming Q3 contract talks added uncertainty to the near-term outlook.
Why did the price of Sulphur change in July 2025 in MEA?
- The sulphur Spot Price in the MEA region declined in July 2025 due to softening overseas buying activity. Major importers remained well-stocked, reducing spot procurement.
- The sulphur Demand Outlook softened as agricultural demand in Saudi Arabia was limited amid the off-season, while international buyers delayed fresh purchases, leading to reduced trade momentum.
- The sulphur production cost was unstable amid the fluctuations witness in the crude oil market.
- The sulphur Price Forecast reflected bearish market sentiment driven by ample supply, lack of spot buying interest as the Asian Suppliers are not expected to enter the spot market until August, and logistical challenges, suggesting continued downward pressure.
