The Insoluble Sulphur market exhibited stability, largely due to the lackluster cost support from feedstock sulphur in the US market. Till the middle of July month, with ample inventories in place, the market was able to maintain firm demand from the downstream automobile sector. Consumption in the Insoluble Sulphur terminal market remained strong, and downstream purchasing enthusiasm was high, even though enterprise shipments faced some constraints. This led to increased inventory levels. In the short term, however, downstream demand was lower, reflected in the sales figures. This stability in feedstock sulphur has played a crucial role in keeping Insoluble Sulphur prices steady.

In the U.S., Toyota Motor North America (TMNA) reported a slight decline in June vehicle sales. The company sold 193,120 vehicles, which is a 1.2 percent decrease compared to June 2023, based on both volume and daily selling rate (DSR) metrics. Despite this overall dip, sales of electrified vehicles experienced significant growth, surging by 64.5 percent to reach 84,781 units, thereby accounting for 43.9 percent of total monthly sales. For the second quarter of 2024, TMNA's sales totaled 621,549 vehicles, representing a 9.2 percent increase, with electrified vehicles making up 39.8 percent of this total. In the first half of the year, the company sold 1,186,647 vehicles, marking a 14.3 percent increase on a volume basis and a 12.8 percent increase on a DSR basis. Electrified vehicles accounted for 38.3 percent of total sales during this period.

The Insoluble Sulphur market operated smoothly, thanks in part to concentrated refinery maintenance that maintained a lower supply of Insoluble Sulphur. While downstream procurement remained active and supported robust market trading, some enterprises reduced their Insoluble Sulphur quotations in response to earlier price hikes and resistance from downstream buyers. Overall, the Insoluble Sulphur feedstock sulphur market remained at a relatively high inventory level.

Additionally, natural gas prices in the U.S. market were elevated as of May 2024, leading to higher Insoluble Sulphur production costs. Moreover, the inflation, spending, and income all declined in the previous quarter's end and may support the industrial operations in the country. If this report marks the start of a trend, the economy might be entering a new phase characterized by reduced financial transactions. As per ChemAnalyst, the Insoluble Sulphur prices are unlikely that Insoluble Sulphur prices will rise significantly in the upcoming week owing to the supported input cost and demand volume in the US market.