Sulfur and Sulfuric Acid Prices Continue to Fall Due to Low Demand

Sulfur prices continued a downward slide that began in August, falling to between $700 and $800 per tonne, according to rfi.fr.

At its summer peak, sulfur traded between $1,200 and $1,300 per tonne. The material’s historical course sits around $100 to $200 per tonne, fertilizer merchant Michaël Sebag told rfi.fr.

Sulfuric acid, utilized heavily in mining and fertilizer production, follows the same downward slope. Despite falling prices, supply chain disruptions originating from the war in Iran remain unresolved, rfi.fr reported.

Available market supply stays restricted and will not improve until the situation around the Strait of Hormuz stabilizes. Gulf producers supplied over 40% of the global sulfur and sulfur-product market prior to March 2026, according to rfi.fr data.

China maintains its ban on exports, which began in May, to preserve domestic production for local requirements. While an exceptional cargo of 32,000 tonnes of sulfuric acid cleared the country in late August according to analytics firm Kpler, global supply shifted very little, rfi.fr noted.

Demand has dropped significantly, triggering a classic commodity market demand destruction mechanism where high prices cause buyers to pull back. Phosphate fertilizer manufacturers, including American firm Mosaic and Morocco’s OCP, warned of difficulties passing rising input costs on to farmers, leading them to produce less or pivot to alternative chemical formulas.

Mining operators absorb high prices more easily. They secure supplies through higher bids because their profit margins outpace the input industry, Argus Media expert Raghav Jain told the Financial Times in reporting cited by rfi.fr.

High copper prices above $14,000 a tonne give mining operators room to absorb sulfuric acid price increases. However, lower prices do not guarantee an immediate consumption rebound, according to Sebag.

Manufacturers prefer waiting for guaranteed regular supplies at correct prices over immediate relief. Middle East conflict added severe pressure to a market already climbing since Russia halted its exports of roughly three million tonnes in November 2025, rfi.fr detailed.