As of August 31, 2026, the monthly average sulfur inventory at China's sampled ports was 890,000 mt, up 120,000 mt from the previous month, representing a month-on-month increase of 15.58% and a year-on-year decrease of 63.52%. The main reason is that although arrivals at major domestic ports in August declined month on month, downstream plants significantly slowed their port pickup operations, so the overall port inventory data showed a month-on-month growth trend.
In the coming month, sulfur inventory at China's sampled ports is likely to continue rising. Although the September arrival schedule at major domestic ports is not yet fully clear and volumes may remain limited, major downstream phosphate fertilizer producers are subject to export restrictions on phosphate fertilizers and sulfuric acid, and are also facing targeted supply assurance from major refineries. As a result, their pace of port pickups is expected to continue slowing, which will delay port destocking and could lead to another month-on-month increase in port inventory.
In August, the trend of China's sampled sulfur port inventory showed a reasonable and relatively strong negative correlation with sulfur market prices. Although port arrivals were limited, sluggish downstream port pickups ultimately drove port inventory higher. The notable slowdown in downstream pickup activity was mainly due to the policy of "one guarantee and two restrictions"—namely, targeted supply assurance for domestic resources and export restrictions on sulfuric acid/phosphate fertilizers—which clearly suppressed essential demand in the domestic sulfur market. In addition, some end users sold their long-term contract resources on the spot market. The resulting erosion of market sentiment naturally pressured prices downward, forming an inverse trend against the rise in port inventory.
Sample description:
On the day of data release, Chempricehub Information compiles real-time sulfur inventories from nine Chinese ports, with a sample coverage rate of 90%.
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