① Domestic sulfur production is estimated at approximately 212,800 tons for the week of October 2–8, 2026, representing a week-on-week increase of 0.79%.
② National port inventory levels stood at 1.093 million tons, an increase of 13.45% compared to pre-holiday levels.
③ The industry capacity utilization rate for monoammonium phosphate (MAP) was 45.94% this week, down 0.45 percentage points from pre-holiday levels. The capacity utilization rate for diammonium phosphate (DAP) was 41.85%, down 0.55 percentage points from pre-holiday levels.
This week, the domestic sulfur market remained stable with limited activity. As of now, the mainstream granular sulfur price at Zhenjiang Port is 7,100 RMB/ton, unchanged from pre-holiday levels. Regarding international markets, spot prices continued to weaken, with Indonesian inquiry quotes reaching CFR $875–900/ton. Additionally, reports indicated that multiple batches of Middle Eastern sulfur cargo ships transited the Strait of Hormuz, alleviating supply concerns and further dampening market sentiment. In China, resource circulation remains limited despite fertilizer enterprises receiving supply security support.
Domestically, on the first working day after the long holiday, weak performance in the USD-denominated market led traders to maintain a wait-and-see attitude by inertia. Spot trading sentiment showed no substantial change compared to pre-holiday levels, with only individual merchants replenishing stock based on demand; market prices exhibited no significant fluctuation. Subsequently, the further weakness in USD-denominated offers prompted existing inquiries within ports to test lower prices. Holders’ sentiment has not become overly negative so far, and sporadic small-volume transactions have been concluded without obvious price changes. The purchasing intent of long-term contract suppliers warrants close attention moving forward.
Table 1: Comparison of Domestic Sulfur Prices at Ports (Unit: RMB/ton)
| Market | Grade | 2026/9/30 | 2026/10/9 | Change | % Change |
|---|---|---|---|---|---|
| Zhenjiang Port | Granular | 7100 | 7100 | 0 | 0.00% |
| Dafeng Port | Granular | 7080 | 7080 | 0 | 0.00% |
| Data Source: Chempricehub |
① Puguang Wanzhou is currently not providing external quotations.
② As of October 9, port inventory in the Yangtze River region totaled 304,000 tons, a decrease of 4.10% compared to pre-holiday levels.
Currently, the weak performance of USD-denominated offers makes it difficult to boost the prevailing wait-and-see sentiment among most traders. This cautious, market-following attitude is likely to persist. Long-term contract suppliers remain the few active participants in spot trading, and their future stance and operational tendencies warrant monitoring. Barring any unexpected developments, the market is expected to maintain stable prices.
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