China announced a suspension of sulfuric acid exports starting from May, with only a few categories such as electronic grade exempted. Industry sources have revealed that the export restriction policy may continue until the end of 2026.
Since the outbreak of the Iran conflict, the price of sulfuric acid has continued to rise. Shipping in the Strait of Hormuz has almost ceased, blocking the sulfur transportation channel in the Middle East. Sulfur is a byproduct of oil and gas refining, with the Middle East accounting for one-third of global sulfur production. As the core raw material for producing sulfuric acid, sulfur is widely used in the wet smelting of copper mines and the production of phosphate fertilizers.
From the perspective of short-term market trends, the geopolitical situation in the Middle East is still uncertain, and the overall prices of sulfuric acid and sulfur show a pattern of easy rise and difficult fall. The price of sulfur is expected to hit 800-1000 dollars per ton in the future, equivalent to approximately 5500-6900 RMB per ton. The current round of chemical raw material price increases has just begun.
