For the Quarter Ending June 2025
North America
• The sulphuric acid Spot Price in North America increased by 9.52% quarter-over-quarter in Q2 2025, reflected in a bullish Price Index.
• The sulphuric acid Price Index rebounded in April, ending a three-week decline, driven by reduced sulphur supply due to refinery turnarounds and stronger seasonal demand from agrochemicals.
• Domestic supply faced disruptions from refinery outages, especially in the Gulf Coast and Midwest, though recovery efforts were underway by late April.
• Market sentiment remained bullish throughout Q2, supported by consistent demand and uncertainty over trade policies, particularly new U.S. import tariffs.
• As spring progressed, the agrochemical sector maintained strong procurement, sustaining demand amid ongoing fieldwork and planting activities.
• Imports played a balancing role, particularly in the western U.S., which remained dependent on shipments from Canada, Mexico, and Asia due to local supply constraints.
• By June, supply tightness and rising import costs pushed the Price Index upward, although some regional price pressure eased as domestic production ramped up.
• Trade policy fluctuations, including tariff reversals and appeals, added to market uncertainty, especially for import-dependent buyers.
Why did the price of Sulphuric Acid change in July 2025 in the US?
• The sulphuric acid spot price in the US remained steady due to balanced supply levels and limited market activity. Buyers adopted a cautious, need-based approach to procurement, which helped maintain pricing stability.
• The sulphuric acid production cost trend showed no significant fluctuations, as domestic operations remained consistent and there were no major feedstock or energy cost shocks.
• The sulphuric acid demand outlook is expected to remain muted amid the absence of the peak plantation season in the US.
APAC
• The sulphuric acid Spot Price in APAC increased by 15.2% quarter-over-quarter in Q2 2025, reflected in a bullish Price Index.
• The sulphuric acid price index in Thailand experienced consistent upward momentum throughout Q2 2025, reflecting bullish market conditions driven by tight supply and firm demand.
• In April, the rise in the price index was primarily triggered by reduced exports from China due to maintenance shutdowns and insufficient local inventories, leading to reliance on high-cost imports.
• The peak plantation season throughout the quarter sustained strong demand from the agrochemical sector, encouraging steady procurement activity among buyers despite elevated costs.
• During May, the price index remained stable at higher levels as increased global feedstock sulphur costs elevated production costs, limiting suppliers’ ability to lower prices.
• By June, persistent supply shortages, delayed import authorisations, and robust end-user demand continued to support the firm market tone and further lifted the price index.
• Throughout the quarter, buyers maintained forward-looking procurement strategies, contributing to an optimistic yet cautious market outlook in Thailand.
Why did the price of Sulphuric Acid change in July 2025 in Asia?
• The sulphuric acid spot price in Asia remained stable in July 2025 due to a balanced supply-demand environment, with no major production disruptions or logistical constraints impacting the market.
• The sulphuric acid production cost trend remained consistent as domestic producers maintained steady output rates and sufficient inventories, preventing any upward cost pressures.
• On the demand side, the sulphuric acid demand outlook was moderate, as the seasonal lull in agricultural activity led to cautious and measured procurement by buyers, sustaining overall market stability.
• As a result, the sulphuric acid price forecast for the region remained unchanged through July, with market participants closely observing conditions while refraining from aggressive buying or price shifts.
Europe
• The sulphuric acid Spot Price in Europe increased by 1.45% quarter-over-quarter in Q2 2025, reflected in a bullish Price Index.
• Throughout Q2, the sulphuric acid market in Europe, particularly Germany, exhibited a consistently bullish trend, as reflected by a rising price index.
• The surge in the price index was primarily driven by high production costs, owing to elevated feedstock sulphur prices and limited raw material availability.
• Supply remained tight due to multiple factors, including scheduled maintenance at major smelters, logistical disruptions—especially along the Rhine River—and constrained output from concentrate sources.
• Demand from the agrochemical sector was strong during the peak plantation season, but even after seasonal demand softened, international interest, particularly from buyers in South America and Morocco, continued to support firm market sentiment.
• Producers withheld prompt cargoes amid tight availability, anticipating stronger pricing opportunities ahead, while some buyers began exploring alternative acid types due to widening cost differentials.
• Despite intermittent periods of stability, overall market dynamics in Q2 supported an upward trend in the sulphuric acid price index, with limited relief expected until additional supply becomes available in the coming months.
Why did the price of Sulphuric Acid change in July 2025 in Europe?
• The sulphuric acid spot price in Europe remained largely unchanged in July 2025 due to a balanced market with limited buying interest and adequate inventory levels across the region.
• According to the sulphuric acid production cost trend, stable feedstock sulphur prices helped maintain consistent manufacturing costs.
• Despite expectations of improved availability from major producers, the sulphuric acid price forecast for the region reflected a softening trend, influenced by slow spot market activity and the anticipated decline in industrial operations during the summer holiday season.
MEA
• The sulphuric acid Spot Price in the Middle East increased by 16.6% quarter-over-quarter in Q2 2025, reflected in a bullish Price Index.
• The sulphuric acid market in Saudi Arabia exhibited a generally bullish trend over the second quarter, supported by firm import costs from Asia and steady demand from the agrochemical sector during the mid-crop season.
• In early Q2, the price index remained stable as key buyers had already secured volumes in advance, minimising short-term spot activity and maintaining supply-demand equilibrium. As the quarter progressed, bullish sentiment strengthened due to tender-based bulk purchases by major consumers like Ma’aden, which added upward pressure to the price index.
• By mid-to-late Q2, market activity slowed temporarily during the Eid holidays, but tight supply conditions and anticipation of future demand helped sustain the firm price index.
• Toward the end of Q2, renewed procurement interest re-emerged, with traders facing supply constraints and rising freight rates, further supporting the upward movement in the price index.
• Overall, the sulphuric acid market in the Middle East remained steady but firm, underpinned by forward-looking buying behaviour, tight availability, and stable production costs.
Why did the price of Sulphuric Acid change in July 2025 in the Middle East?
• The sulphuric acid spot price in the Middle East rose in early July 2025 due to limited domestic supply, despite the absence of peak seasonal demand. This constrained availability created a supply-demand imbalance, pushing prices upward.
• Following this spike, the sulphuric acid price forecast shifted to a more stable outlook by mid-July as the market adjusted to earlier procurement activity, and short-term requirements had already been fulfilled by key buyers.
• The sulphuric acid production cost trend has seen increased variability due to rising base prices and freight costs, influenced by tight spot availability in Asia and logistical challenges in the region.
• The sulphuric acid demand outlook remains steady, driven by continued consumption from industrial sectors like fertilisers and chemicals, providing a consistent foundation for market stabilisation after initial volatility.
For the Quarter Ending March 2025
North America
In Q1 2025, the North American sulphuric acid market exhibited bearish sentiments, primarily driven by weak demand, market caution, and trade uncertainties. In January, despite winter-induced supply disruptions, prices remained stable, with sluggish trading activity stemming from the absence of the plantation season and cautious behavior from both buyers and sellers. Domestic suppliers favored long-term contracts over spot purchases, while potential tariffs on imports from Canada and Mexico began to weigh on market sentiment.
Similarly, the sulphuric acid market maintained bearishness in February. The downstream agrochemical sector showed limited interest due to sufficient inventories and stagnant seasonal demand. Moreover, domestic sulphur-burnt acid remained more cost-effective than imports, discouraging fresh buying. Moving into March, bearish pressure intensified—prices declined by 9.5% and settled at USD 123/MT (CFR-Texas). The fall was triggered by reduced spot demand, lower sales to Latin America, and diminished import competitiveness.
Additionally, a 25% tariff on Canadian imports, though delayed under USMCA, further heightened uncertainty. Overall, the combination of limited demand, competitive domestic production, and trade policy concerns sustained the bearish momentum throughout the quarter.
APAC
In Q1 2025, the sulphuric acid market in the APAC region transitioned from stable to increasingly bullish sentiment, driven by rising production costs, supply constraints, and seasonal demand growth. In January, the Chinese market experienced bearish pressure due to weak demand from the phosphate and agrochemical sectors, constrained further by operational cuts at key producers and ongoing export restrictions. However, as February approached, although prices dipped slightly, the market sentiment began shifting. Feedstock sulphur prices edged up and phosphate fertilizer production remained restrained, indicating supply tightening. Market players began adopting cautious procurement strategies amid rising costs and limited exports. The bullish momentum strengthened significantly in March. This rally was fueled by an increase in sulphur prices, shutdowns at major plants (e.g., Jinchuan, Tongling, Xingfa), and robust demand from the agrochemical sector amid the peak plantation season. Tight inventories and delayed cargoes intensified the supply-demand imbalance, prompting suppliers to raise offers. This alignment of rising demand and tightening supply reinforced bullish sentiment, marking a sharp upward shift in market dynamics by the end of the quarter.
Europe
In Q1 2025, the European sulphuric acid market exhibited a mixed trend, fueled by a combination of supply shortages, elevated feedstock costs, steady downstream demand, and the absence of OCP from the market. In January, prices witnessed a surge as market activities resumed post-holidays, and supply chains remained tight due to port congestion in Hamburg and limited feedstock sulphur availability. Despite the absence of the plantation season, demand from the agrochemical sector remained strong, further supported by low inventory levels. February sustained this momentum, with prices holding firm amid ongoing feedstock sulphur firmness and reduced output from European refineries. Suppliers faced challenges fulfilling contract obligations, with production disruptions and tight availability persisting across the region. This created upward price pressure as procurement from the agrochemical sector intensified during the plantation season. During the first week of March, although bullish sentiment prevailed with stable high prices, the market began to show signs of pressure. Rising feedstock costs, refinery capacity cuts, and maintenance shutdowns tightened supply. However, bearish sentiment surfaced from the second week of March due to OCP’s temporary halt in purchases, prompting some suppliers to redirect volumes to South America.
MEA
In Q1 2025, the sulphuric acid market in Saudi Arabia demonstrated a mixed trend, with a late-quarter shift toward bullish sentiment. In January, the sulphuric acid market witnessed a decline, reflecting stable production costs and limited demand from the downstream agrochemical sector due to the absence of the plantation season. Market participants focused on fulfilling prior contracts, amid the presence of ample inventories and steady operating rates. In February, the bearish undertone grew stronger, as demand remained muted and ample supply further weighed on market activity. Prices declined, reflecting low procurement levels and reduced buying interest despite consistent import costs. Key buyer Ma’aden had secured substantial volumes via tenders, reducing spot demand and maintaining price stability. However, in March, the market sentiment shifted bullish, with prices witnessing a surge driven by an incline in feedstock sulphur costs. This prompted market players to adjust ex-quotations upward, passing higher production costs to end users. Despite limited demand, price hikes were supported by cost pressure and anticipation of renewed procurement activity as Ma’aden’s previously secured supplies neared depletion. Overall, Q1 reflected a stable-to-bullish trend shaped by inventory management, contract dynamics, and cost-driven pricing.
For the Quarter Ending December 2024
North America
During Q4, the North American Sulphuric Acid market faced significant volatility due to various disruptions and rising costs. Furthermore, the US Sulphuric Acid market witnessed supply chain issues from Canada, caused by labor strikes and port congestion, which exerted upward pressure on prices. This situation was further exacerbated by Hurricane Helene, which damaged production facilities and delayed deliveries. Additionally, the plantation season increased demand, while rising production costs contributed to the bullish market trend.
Even after the strike ended, port congestion continued to impact supply chains. Although domestic production resumed, the supply remained tight due to limited inventory levels. Canadian port strikes further disrupted the supply, leading to increased imports from other regions to meet demand.
The market maintained its bullish sentiment due to ongoing supply constraints and rising Sulphur costs. Despite the end of the plantation season, robust demand from the agrochemical sector persisted. The tight supply led to limited spot activity and a shift in pricing dynamics, where availability became the primary price determinant. This combination of factors highlighted the challenges faced by the US Sulphuric Acid market, demonstrating the market's volatility and the ongoing pressures from supply chain disruptions and demand fluctuations.
APAC
During the last quarter of 2024, the Sulphuric Acid market in the APAC region demonstrated a bullish trend. Initially, rising feedstock costs and strong demand from the plantation season contributed to higher prices. In Japan, the spot market experienced tight supply, further fueling the bullish sentiment with limited availability expected to persist. As the quarter progressed, rising production costs and sustained strong demand from the agrochemical sector significantly drove prices up. Scheduled maintenance at Smelters exacerbated the situation, keeping inventory levels tight and limiting spot transactions. Although prices later stabilized due to pre-committed stock levels, the overall market sentiment remained bullish. This persistent tightness in supply and limited spot availability maintained a cautious market atmosphere, with participants navigating through the tight supply conditions carefully. Limited transactions were observed as market participants awaited clearer signals. Despite some stabilization, the bullish sentiment continued to dominate, driven by supply constraints. Overall, the market's resilience amidst these conditions highlighted the ongoing bullish trend throughout the last quarter of the year.
Europe
During the last quarter of 2024, the European Sulphuric Acid market experienced sustained bullish trends driven by tight supply conditions and firm feedstock prices. The German market, in particular, witnessed a significant upward momentum due to limited spot availability and increased production costs tied to the rising Sulphur market. Demand from the agrochemical sector surged during the peak plantation season, further tightening the supply chain. Persistent supply constraints, including restricted supply from Northwest European refineries and output issues at smelters, compounded the pressure on the market. Port congestion at Hamburg added to logistical challenges, reducing sailings and tightening supply channels. Furthermore, the participants were focused on negotiating longer-term domestic contracts, the limited spot material and ongoing supply issues kept market sentiments bullish. Additionally, a tender for a German end-user highlighted the ongoing demand. As the market navigated these challenges, the bullish sentiment persisted, supported by high demand from the agrochemical sector and tight global supply. The cautious approach among market participants reflected the delicate balance between supply constraints and sustained demand, maintaining bullish market conditions.
MEA
During the last quarter of 2024, the Sulphuric Acid market in Saudi Arabia has consistently exhibited bullish market sentiment, driven by several key factors. Rising production costs due to increased feedstock Sulphur prices, coupled with robust global demand and ongoing geopolitical tensions, have significantly supported this upward trend. The consumption rate of Sulphuric Acid inventories has surged, with both domestic and international demand, particularly from the agrochemical sector, contributing to this bullish outlook. Additionally, supply chain disruptions caused by the Red Sea crisis have intensified pressure by limiting logistics and transport routes. Ma'aden's procurement of more cargoes than initially requested and the ongoing peak plantation season have further bolstered positive market sentiment. While prices have stabilized amid tight supply conditions and cautious market behavior, the bullish trend has persisted. Market participants have focused on annual contract negotiations and have adopted a cautious approach to managing uncertainty. Overall, the combination of increased production costs, rising demand, supply chain constraints, and strategic supplier actions has maintained a robust and bullish outlook for the Saudi Arabian Sulphuric Acid market.
For the Quarter Ending September 2024
North America
In Q3 2024, the North American Sulphuric Acid market experienced a significant upturn in prices, characterized by a 31% increase from the same quarter last year. This surge was primarily driven by a combination of factors, including supply chain disruptions, heightened demand from downstream industries, and rising production costs. The market witnessed an 11% increase from the previous quarter in 2024, further reinforcing the upward trend. The USA, in particular, witnessed the most substantial price changes, reflecting the overall regional dynamics.
Throughout the quarter, the USA market exhibited a positive correlation between increasing prices and various market influencers. Seasonal demand fluctuations, supply chain challenges, and geopolitical tensions all contributed to the price escalation. The 3% price difference between the first and second half of the quarter underscored the market's resilience and stability amidst changing conditions.
Ultimately, the quarter-ending price of USD 130/MT of Sulphuric Acid CFR Texas in the USA encapsulates the prevailing positive sentiment and the market's ability to navigate challenges while maintaining an upward pricing trajectory.
APAC
The third quarter of 2024 has witnessed an uptrend in Sulphuric Acid pricing within the APAC region, driven predominantly by heightened production costs due to escalating feedstock Sulphur prices. This quarter has been marked by a significant surge in demand from downstream sectors, particularly the agrochemical industry, which has compounded the persistent supply constraints. The geopolitical tensions and adverse weather conditions have further exacerbated supply disruptions, causing a ripple effect across the market. China, as the epicenter of these price dynamics, has experienced the most pronounced price fluctuations. The country's pricing environment has been influenced by seasonal agricultural demands, which have intensified during the plantation period, leading to increased Sulphuric Acid consumption. The market's bullish sentiment is underpinned by a remarkable 29% price increase from the previous quarter, a sharp upturn from the same period last year, reflecting a 10% rise. Concluding the quarter, Sulphuric Acid prices in China have stabilized at USD 47/MT (IR Grade) FOB-Qingdao. This quarter's pricing trajectory reflects a consistently positive market sentiment, driven by robust demand and constrained supply dynamics, reinforcing the overall bullish outlook.
Europe
In Q3 2024, the Sulphuric Acid market in Europe witnessed a pronounced uptrend, with Germany recording the most substantial price increases. This price growth was largely driven by a surge in feedstock Sulphur prices, which elevated production costs for Sulphuric Acid and pressured market pricing upward. Demand from downstream sectors, particularly agrochemicals, was a major factor in this trend, as increased agricultural activity during the quarter intensified the need for Sulphuric Acid, commonly used in fertilizer production. The seasonal demand spike for agrochemicals further fueled price growth across the region, magnifying supply-demand imbalances and supporting a bullish price environment. In Germany, Sulphuric Acid prices exhibited notable volatility, showing a 6% year-over-year increase and a steep 24% rise from the previous quarter. By the quarter's end, Sulphuric Acid (IR Grade) was priced at USD 85/MT FOB Hamburg, underscoring the strong, positive pricing environment that defined Q3. This trend highlights the combined impact of rising feedstock costs and seasonal demand pressures across the European market.
MEA
In the MEA region during Q3 2024, the Sulphuric Acid market experienced a significant uptrend in prices, reflecting a positive pricing environment. Various factors contributed to this price increase, including escalating production costs linked to rising feedstock Sulphur prices. The market also witnessed heightened demand from both domestic and international agrochemical sectors, particularly driven by the ongoing plantation season. These factors collectively exerted upward pressure on prices, leading to a 19% increase from the same quarter last year. Saudi Arabia, in particular, witnessed the most substantial price changes within the region. The market in Saudi Arabia reflected similar trends of increasing prices, in line with the broader regional context. Seasonality played a crucial role, with the ongoing plantation season boosting demand and influencing price dynamics. The correlation in price changes was evident, with a notable 10% increase from the previous quarter in 2024. The quarter ended with the latest price of USD 85/MT of Sulphuric acid Spot Ex-Jeddah in Saudi Arabia, underscoring the overall positive and upward trajectory of the market.
FAQs
1. What are the main factors driving sulphuric acid price volatility?
Price volatility in the sulphuric acid market is influenced by fluctuations in feedstock costs, changes in freight rates, supply disruptions, geopolitical tensions, and seasonal demand patterns from key sectors like fertilisers and mining.
2. Who are the top sulphuric acid producers globally?
Leading producers include BASF, The Mosaic Company, Ma’aden, Aurubis, and OCP Group, all of which operate large production capacities across major regions.
3. What is the sulphuric acid used for?
Sulphuric acid is widely used in the production of fertilisers (especially phosphates), metal processing, petroleum refining, battery manufacturing, and industrial wastewater treatment.
4. Does sulphuric acid production impact environmental sustainability?
Yes, sulphuric acid production can affect environmental sustainability through emissions and waste generation. However, many producers are adopting cleaner technologies and recycling processes to reduce their environmental footprint.
