Sulphur Market: Prices Keep Sliding

Sulphur keeps sliding.

Middle East FOB marker: $877/t August average → $765/t this week.

China granular CFR: $1,050/t → $870/t.

The problem is demand, not supply.

Phosphate plants in China, Brazil and North Africa are running slower. Mosaic has cut output in the US. Indonesian nickel buyers are taking less.

China says it best. August imports fell 65% year on year. Port stocks are under half of last year’s level. And buyers are still waiting.

What’s happening in the Persian Gulf?

Cargoes are moving through Hormuz, but freight and insurance remain high. Sellers are cutting offers to place spot tonnes in Asia.

My outlook for the next 30–60 days

Soft to stable. I expect lower offers for November loading.

What are you seeing on your side of the market?

Sources: Argus Sulphur (15 Oct 2026), China Customs, Mosaic company reports. The narration in the video is AI-generated.