Sulfur Market Update – December 2024 1st half

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The sulfur market is experiencing a period of stabilization after recent rapid price increases, as regional trends and cautious buying patterns shape the global dynamics. This article provides an in-depth analysis of the current market, compares recent developments with previous trends, and outlines expectations for the near future.

Key Market Trends Across Regions

India: A Major Player in Demand
India remains a key market for sulfur procurement:

  • Granular sulfur CFR prices are at $186-188/t, with smaller tenders exceeding $200/t CFR due to elevated freight costs.
  • Significant tender activity highlights India’s continued influence on sulfur pricing and demand trends.

China: Stabilizing Prices with Slight Increases

  • CFR prices held steady at $182-185/t for granular sulfur.
  • Domestic prices rose slightly to Yn 1,550-1,560/t ($181-182/t equivalent), reflecting steady local market activity.

Middle East: Steady FOB Prices

  • FOB prices increased slightly to $166-169/t, driven by steady demand and already contracted December shipments.

North Africa: Consistent Pricing

  • Prices for granular sulfur ranged from $145-160/t CFR, with demand remaining stable across regional markets.

Comparing Current Trends to Previous Insights

  • Price Movements:
    Earlier reports highlighted rapid price hikes fueled by strong demand and tight supply, particularly from the Middle East. This week, prices show signs of stabilization, reflecting a mature market preparing for 2025.
  • Demand Trends:
    Previous analysis indicated robust demand from India and China. While these markets remain active, buyers have adopted a more cautious approach as the Lunar New Year and seasonal holidays approach.
  • Supply Dynamics:
    The Middle East continues to dominate supply, with most December shipments already contracted. This aligns with trends observed in earlier analyses, where consistent production and export volumes supported global markets.

Market Outlook for Sulfur

Short-Term (December-January):

  • Prices are expected to remain stable as global demand slows during the holiday season.
  • Unfulfilled requirements in India, China, and Indonesia are likely to drive renewed activity in early 2025.

Medium-Term (Q1 2025):

  • January contract negotiations will play a key role in setting market trends.
  • Prices may soften slightly if spot demand remains subdued, though sustained requirements from major buyers like India and China could provide support.

Strategic Recommendations for Stakeholders

  • For Buyers:
    • Monitor upcoming tenders in India and post-holiday demand rebounds in China to secure favorable pricing early in the year.
  • For Suppliers:
    • Leverage stable FOB prices in the Middle East to maintain competitiveness in high-demand regions like India and Southeast Asia.

How EGT Fertilizer Supports Your Sulfur Supply Needs

At EGT Fertilizer, we provide high-quality sulfur and related products to ensure stability and reliability for your operations. Whether you’re planning for immediate procurement or long-term needs, our expertise and global network help you navigate dynamic market conditions.

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