For the Quarter Ending September 2024
North America
In Q3 2024, Liquid Sulphur Dioxide prices in North America experienced an uptrend, with the USA seeing the most substantial price changes. This growth was driven by several factors impacting market dynamics. Supply constraints, caused by disruptions such as labor strikes and natural disasters, significantly tightened Liquid Sulphur Dioxide availability across the region. These disruptions hindered the transportation and production of Liquid Sulphur Dioxide, creating a scarcity that contributed to elevated prices.
The demand from the downstream agrochemical sector intensified as the plantation season progressed, driving further increases. The agrochemical industry relies on Liquid Sulphur Dioxide, especially in fertilizers, to meet seasonal demand, adding pressure to an already constrained supply.
Furthermore, a surge in the production cost of the commodity due to the increase in the prices of the feedstock Sulphur market further pushed the prices of Liquid Sulphur Dioxide upwards. In addition, along with the increased demand, the inventory levels of the commodity proved to be insufficient to meet the demand, hence, to reflect the market scenario, the market players increased their ex-quotations which resulted in the bullish market sentiments of the commodity in the US.
APAC
In Q3 2024, the APAC region witnessed a significant surge in Liquid Sulphur Dioxide prices, with India experiencing the most notable price changes. The market was influenced by several key factors that drove prices upwards. Rising production costs, particularly due to an increase in feedstock prices, played a crucial role in elevating market prices. Additionally, heightened demand from downstream sectors, such as the agrochemical industry, further intensified the market dynamics. The recovery of the monsoon season bolstered fertilizer demand, contributing to a bullish sentiment. Global supply chain constraints, particularly from China, limited imports to India, exacerbating the supply-demand imbalance and pushing prices higher. Plant shutdowns, including maintenance at key refineries, disrupted supply chains, further straining availability and contributing to the price escalation. In India specifically, the pricing environment for Liquid Sulphur Dioxide displayed a consistent upward trend throughout the quarter. Seasonal factors, such as the delayed plantation season and increased production activities in response to rising demand, influenced price changes. The correlation between rising production costs, robust demand, and supply shortages resulted in a positive pricing environment. The quarter-ending price of USD 238/MT Ex-Ahmedabad in India reflected the overall bullish sentiment in the market.
Europe
In Q3 2024, Europe’s Liquid Sulphur Dioxide market experienced an uptrend, propelled primarily by the rising costs of feedstock Sulphur. The strong increase in Sulphur prices directly impacted Liquid Sulphur Dioxide production expenses, pushing market prices upward as manufacturers passed on these heightened costs. This cost-driven price growth was further compounded by a surge in the demand from the agrochemical sector. During the quarter, agricultural activities across Europe surged, intensifying the demand for agrochemicals and, consequently, for Liquid Sulphur Dioxide. This seasonal spike in agricultural activity typically increases fertilizer demand, straining supply channels for Liquid Sulphur Dioxide. As a result, the region faced a pronounced supply-demand imbalance, which supported bullish price momentum throughout Q3. The heightened demand from the agrochemical industry, coupled with restricted supply, created a favourable environment for price increases, reflecting the market's sensitivity to both feedstock fluctuations and seasonal agricultural cycles. Moreover, the sustained high demand emphasized the market's dependency on downstream agricultural activities, magnifying the effects of any shifts in Sulphur costs or seasonal agricultural requirements. Consequently, Q3 2024 marked a period of elevated pricing for Liquid Sulphur Dioxide, underscoring the market's intricate supply-demand dynamics in Europe.
For the Quarter Ending June 2024
North America
In Q2 2024, the North American Liquid Sulphur Dioxide market saw a notable price increase, driven by several key factors that collectively created an inflationary environment. One of the primary contributors was the rise in production costs, which was largely influenced by the increased prices of upstream Sulphur and Crude Oil. As these essential raw materials became more expensive, the cost of producing Liquid Sulphur Dioxide naturally followed suit, pushing market prices upward. This cost escalation was not isolated but part of a broader trend affecting various sectors reliant on these feedstocks.
Additionally, the overall improvement in the manufacturing sector added to the upward pressure on Liquid Sulphur Dioxide prices. The quarter saw a surge in new orders and employment, indicating a robust industrial activity that heightened the demand for chemicals and related products. This increased activity required more Liquid Sulphur Dioxide. The heightened industrial demand, coupled with the existing supply chain constraints, contributed to the upward pricing trend. Furthermore, supply chain disruptions, such as delivery delays and higher shipping costs, exacerbated the situation. These disruptions were partly due to logistical challenges and the rising costs of transportation, which added another layer of pressure on prices.
The seasonal dynamics also played a significant role in shaping the market. The summer driving season traditionally boosts demand for regenerated Liquid Sulphur Dioxide from refineries, as it is used in various refining processes to produce cleaner fuels. Moreover, inflationary pressures and supply chain constraints, including the looming threat of rail strikes, added to the bullish market sentiment. The potential for such strikes created uncertainty and caution among market participants, who were hesitant to lower prices despite any short-term fluctuations in demand. This environment of heightened costs, increased demand, and logistical challenges culminated in a sustained price increase for Liquid Sulphur Dioxide throughout Q2 2024.
APAC
In Q2 2024, the Liquid Sulphur Dioxide market in the APAC region experienced a pronounced upward trajectory. Several key factors contributed to this price elevation. A significant driver was the surge in feedstock Sulphur prices, which saw substantial increases due to supply constraints and heightened global demand. Furthermore, the rising operational costs due to increased transportation and fuel expenses have also played a crucial role in pushing prices upward. Disruptions in the supply chain, notably due to plant shutdowns and operational delays, compounded these issues, limiting the available inventory and further straining supply. In India, the largest price fluctuations were observed, primarily due to the culmination of the plantation season cycle, which significantly boosted demand from downstream sectors, particularly fertilizers. This seasonality effect was exacerbated by the ongoing general elections, which disrupted supply chains and aggravated market sentiments. In comparison to Q1 2024, prices in India saw a marked increase of 3%, underlining a consistent upward trend throughout the quarter. The overall trend for Liquid Sulphur Dioxide in India during this period has been decidedly positive, driven by high demand and supply constraints. The quarter ended with prices reaching USD 16,000/MT Ex-Ahmedabad, underscoring the sustained bullish sentiment in the market. This upward pricing environment indicates a strong market response to both seasonal and economic factors influencing the industry.
Europe
In Q2 2024, the European Liquid Sulphur Dioxide market witnessed a substantial upward trend in pricing, driven by several key factors that collectively tightened the supply-demand balance. A significant driver was the robust maintenance schedule across European smelters, which limited the availability of Liquid Sulphur Dioxide, creating a notable supply crunch. This scarcity was further exacerbated by tightened supplies of molten sulphur, a crucial feedstock, as production from sulphur burners faced constraints. These combined supply-side limitations significantly reduced the availability of Liquid Sulphur Dioxide in the market, exerting upward pressure on prices. The situation was further strained by the strong demand from the agrochemical sector, driven by seasonal planting activities that required increased volumes of Liquid Sulphur Dioxide, thereby deepening the supply-demand imbalance.
The economic environment also played a crucial role in the escalating prices of Liquid Sulphur Dioxide. Inflationary pressures and increased production costs, primarily due to rising crude oil prices, added to the cost structure of producing Liquid Sulphur Dioxide. This economic backdrop, marked by rising input costs, significantly influenced the market dynamics, contributing to the overall price increase. The heightened demand from the agrochemical sector during the crop season further amplified the impact, as insufficient inventory levels struggled to meet the robust demand. The convergence of limited supply, strong seasonal demand, and higher production costs created a perfect storm, driving Liquid Sulphur Dioxide prices upward throughout Q2 2024.
For the Quarter Ending March 2024
North America
In the first quarter of 2024, the North American Liquid Sulphur Dioxide market encountered a bearish scenario characterized by diminishing demand and surplus inventory levels. This downturn was primarily driven by reduced orders from downstream Agrochemical firms, alongside the abundance of stored stocks. To counteract the market's downward trend, industry players opted to lower their ex-quotations and extended offers to entice buyers, aiming to stimulate purchasing activities.
However, despite these efforts, buyers remained cautious and restrained their procurement due to apprehensions about potential losses in the sluggish market, shifting towards on-demand purchasing practices. In the feedstock market, the decline in Sulphur prices contributed to decreased Sulphuric Acid prices in the North American market.
Analyzing the spread between Sulphur and Liquid Sulphur Dioxide, it narrowed, indicating a bearish sentiment prevailing in the Liquid Sulphur Dioxide market. In essence, the Liquid Sulphur Dioxide market in North America witnessed a downturn primarily due to inventory buildup, moderate demand from downstream sectors, and decreased production costs fueled by declining feedstock prices.
APAC
The pricing environment for Liquid Sulphur Dioxide in the APAC region during Q1 2024 has been mostly negative, with prices experiencing a downward trend. Several factors have influenced market prices, including a decrease in the price of the feedstock, particularly Sulphur, which has led to lower production costs. The lower demand from the downstream Agrochemical sector and the Food and Beverage sector has also contributed to the decline in prices. In India, the price changes for Liquid Sulphur Dioxide have been the most significant. Prices have decreased by 5.66% monthly, with a decrease of 0.62% weekly. The overall trend in India reflects a bearish market sentiment, with high supply and low demand. Suppliers have been cautious in accumulating inventories, waiting for a trend reversal before making significant bids. Looking at the overall trends and seasonality, the pricing environment for Liquid Sulphur Dioxide in Q1 2024 has been negative. The market has experienced a continuous decline in prices, with suppliers destocking inventories. The demand from the downstream Agrochemical sector and the Food and Beverage sector has been muted, leading to lower consumption of Liquid Sulphur Dioxide. The pricing environment for Liquid Sulphur Dioxide in Q1 2024 has been predominantly negative, influenced by factors such as lower feedstock prices, lower demand from key sectors, and destocking activities among suppliers.
Europe
During the quarter ending on March 2024, the European Liquid Sulphur Dioxide market witnessed a bearish trend, characterized by an oversupply of the commodity. Several factors contributed to this market condition, including reduced demand from the Agrochemical sector due to seasonal slowdown, lower prices in the Sulphur feedstock market leading to decreased operational costs, and consistent demand from industrial sectors. The ongoing protests in European countries disrupted the supply and demand equilibrium, although inventory levels remained sufficient. However, the hampered trading activities did not significantly impact the prices of the commodity since supplies were stocked up in the storage units. Market participants exercised caution by lowering their Ex-quotations, sacrificing some of their marginal profits to prioritize the utilization of stocked-up inventories. However, buyers also approached procurement cautiously, limiting their purchasing activities to mitigate potential losses and aiming to restore supply and demand equilibrium. Therefore, in conclusion, the Liquid Sulphur Dioxide market faced bearishness due to the sluggish demand from the downstream Agrochemical sector, stocked-up inventories and the ongoing Farmer’s protests in European countries.
For the Quarter Ending December 2023
North America
As of the conclusion of the 4th Quarter in 2023, the Liquid Sulphur Dioxide (SO2) market in the United States has witnessed a consistent decline in prices. The primary contributing factor to this downward trend is the decrease in the cost of its key feedstock, particularly Sulphur. The sustained reduction in prices over the past several months signifies an ongoing trend, leading to destocking activities among suppliers.
The downturn in demand for Sulphuric Acid, driven by subdued production in the fertilizer sector, has impacted the overall Liquid SO2 market. Despite a surplus supply of Liquid Sulphur Dioxide in the market, major industries are maintaining substantial inventories. The current market scenario involves destocking strategies, where suppliers are actively adjusting their inventory levels to align with the prevailing demand from downstream industries.
The downward price trend reflects the efforts of suppliers to balance inventory levels in response to shifting market dynamics. This destocking approach aims to reduce existing inventory levels to better match the current demand from industries and consumers. While the Food and Beverage sector may exhibit positive demand trends, the Sulphuric Acid market is likely experiencing a decline due to reduced fertilizer production in major industries.
APAC
By the conclusion of the 4th Quarter in 2023, there was a notable decrease in the price of Liquid Sulphur Dioxide, primarily influenced by a reduction in the cost of its key raw material, Sulphur, within the Indian market. The sustained decline in prices observed over recent months indicates a clear continuation of the downward trend in the market, prompting suppliers to engage in destocking activities to manage their inventories. The demand for Sulphuric Acid in the downstream market has diminished due to subdued production in the fertilizer sector. Despite a surplus of Liquid Sulphur Dioxide supply in the market, major industries are maintaining substantial inventories. The current market situation involves a destocking strategy as suppliers strive to align with the demand from downstream industries. This destocking approach entails reducing existing inventory levels to harmonize with the current demand from both industries and consumers. The Food and Beverage sector is exhibiting positive demand trends, while the Sulphuric Acid market is witnessing a decline attributed to decreased fertilizer production in major industries. This signifies a contrasting divergence in demand patterns between these two sectors, with one witnessing growth and the other encountering reduced demand. As of the current quarter, the price of Liquid Sulphur Dioxide concluded at 192 USD/MT, reflecting a decline of 15.78%.
Europe
As the 4th quarter of 2023 ended, the Liquid Sulphur Dioxide (SO2) market in Europe witnessed a notable decline in prices, influenced by various factors affecting the sulphur market dynamics. One prominent factor contributing to this trend is the decrease in sulphur prices, a key feedstock for Liquid SO2 production. The broader crude market conditions, geopolitical factors, and global Sulphur supply dynamics have impacted the cost of sulphur, consequently influencing the pricing of Liquid SO2. Moreover, subdued demand from downstream sectors, such as the chemical and food industries, has played a role in the declining price trend. The economic slowdown in the region, coupled with uncertainties in key industrial sectors, has resulted in decreased demand for Liquid SO2. Logistical considerations and transportation costs due to Red Sea crisis also contribute to the pricing dynamics. Fluctuations in freight charges and supply chain disruptions can affect the overall cost structure and subsequently impact the pricing of Liquid SO2. Overall, the declining trend in Liquid SO2 prices in Europe at the end of the 4th quarter can be attributed to a combination of feedstock cost adjustments, subdued industrial demand, and logistical considerations.
For the Quarter Ending September 2023
North America
The price trend of Liquid Sulphur Dioxide in the North American market declined in the 3rd quarter ending on September 2023. The volatility in crude oil prices in the North American market has adversely affected the market value of Liquid Sulphur Dioxide, which is a downstream derivative of crude oil. The production costs for manufacturing Liquid Sulphur Dioxide have also significantly decreased, impacting the product's market value in the region. Due to the weak market situation, the consumption of the existing inventories in the storage units decreased. As a result of the adequate stocks in the storage units, the production rate of the commodity decreased, which made the suppliers decline their offers and bids to enhance their profit margins and to provide discounts on bulk purchases to the buyers. The demand for the product from the downstream food and beverages market was low, which was compensated by the existing inventories in the storage units with no need to restock the commodity.
Asia-Pacific
During the 3rd quarter ending on September 2023, the price trend of Liquid Sulphur Dioxide plummeted due to the prices of its feedstock, that is, Sulphur, was also decreasing gradually and reached USD 228/MT (Ex-Ahmedabad). The demand from the downstream food and beverages market was also falling, leading to a drop in the price trend of the product. Due to the increase in the upstream crude oil enterprise, the transportation fuel has increased, adding up to the cost of the product, but less demand for the commodity still prevails, adding up to the existing inventories in the storage units. Supply of liquid sulphur dioxide was high as the cost of the feedstock remained on the lower end, providing a downward price trajectory. Furthermore, adequate inventories were present in the storage units in the market, resulting in an adequate supply of the commodity into the market. Additionally, due to the ample product availability in the market, the suppliers had to revise the prices of the products to clear their existing stocks.
Europe
In the European market, the price trend of Liquid Sulphur Dioxide declined in the third quarter ending on September 2023. However, the prices of the upstream Sulphur market were increasing, but due to the low demand from the downstream food and beverages market, a decline in the price trend was observed because of which producers decided to decrease the production rate of the commodity to avoid the oversupplies of the product. The decline in the price trend made the suppliers provide discounts to the buyers on the bulk purchases of the commodity to clear out the inventories for the fresh stocks, which turned out to be a great opportunity for the buyer to purchase the product at low prices. Since the demand from the domestic market was low, trading activities decreased as well, which led to the sufficient availability of vessels and containers, resulting in increased shipping capacity. Additionally, the price trend of crude oil was increased, but due to the low demand from the domestic market, the prices of the product as well as its feedstock declined.
For the Quarter Ending June 2023
North America
During the second quarter of 2023, the North American market experienced volatility in crude oil prices, which had an adverse effect on the market value of Liquid Sulphur Dioxide, a downstream derivative of crude oil. The decline in the market value of Liquid Sulphur Dioxide was primarily due to the reduced production costs associated with manufacturing this product, which resulted in a corresponding drop in its worth in the region, as noted by traders. Moreover, the inventory levels of Liquid Sulphur Dioxide fell drastically in the regional market, as indicated by trade data, which negatively impacted the market sentiment of various downstream industries such as textiles, paper, and pulp. As a result, the stock of feed materials, including Ammonium Bisulphate and Sulphuric Acid, increased, thereby affecting the market trade of Liquid Sulphur Dioxide based on regional data. The demand for Sulphur for the manufacturing of fertilizers decreased with increasing stocks of the products. The quotations of Sulphur were lower, as reported by the merchants, due to a decrease in the consumption of Sulphur based fertilizers.
APAC
The prices of Liquid Sulphur dioxide plunged in the Asian region at USD 30230/ton Ex-Ahmedabad in the Indian market during April as per data. The earnings for companies in the pharmaceutical industry have grown 17% per year over the last three years. Revenues for these companies have grown 11% per year. This means that more sales are being generated by these companies overall, and subsequently, their profits are increasing too. But due to sufficiently high inventories of the product with the traders and the merchants and a moderate supply chain situation, the market was balanced in the regional market. Along with a fall in the prices of feedstock Oleum and fluctuations in the global petrochemicals market, Crude Oil prices went plummeting. The PMI and CPI of the Indian market plunged by 57.8 and 4.25%, respectively, impacting the market sentiments. The freight charges depleted from the Asian market by 2% to the Mediterranean. Any changes in the downstream demand pattern of users who purchase and use Liquid SO2 can influence its price. The Fertilizers and Agricultural Chemicals are flat in the last 7 days, but Fertilizers and Chemicals Travancore has stood out, gaining 8.0%. As for the longer term, the industry is up 11% over the past 12 months. Looking forward, earnings are forecast to grow by 11% annually.
Europe
The market prices of Liqui Sulphur dioxide plummeted in the European region during the second quarter of 2023. The market price of Liquid Sulphur dioxide depleted in the European market with a fall in the production rate of the Sulphur based derivative. The supply chain conditions in the European market maintained a moderate status, while the shipments market remained stable. Additionally, the inventory level with regional traders was at a moderate level. The demand for paints and coatings from the downstream market plunged in the region due to higher consumption rates from the downstream market. Earnings in India were forecasted to decline, and the Indian Sulphur market witnessed reduced sales. The logistics industry has experienced a decline, resulting in a 12% decrease in the supply chain. This has directly impacted the inventory levels of Liquid Sulphur Dioxide for traders and merchants in the region. Additionally, investors have grown pessimistic about the European logistics industry, as they anticipate lower long-term growth rates compared to historical data.
For the Quarter Ending March 2023
North America
Liquid Sulphur Dioxide prices in the North American region fell during the first quarter of 2023 due to weak market fundamentals. According to industry players, falling consumption in downstream industries such as food preservation, water treatment, and chemical manufacturing resulted in weak domestic demand, reducing demand pressure on the Liquid Sulphur Dioxide market. Despite a downturn in industrial activity, local suppliers maintained enough stocks thanks to a constant influx of cheaper imports from overseas markets. Sticky inflation, on the other hand, prompted the US Federal Reserve to boost interest rates, affecting consumer confidence and forcing dealers to make offtakes at lower margins.
Asia- Pacific
Prices for Liquid Sulphur Dioxide remained volatile throughout the Asia-Pacific region during the first quarter of 2023. Prices initially fell due to weak market fundamentals, low-cost pressure from feedstock Sulphur, and abundant product supply in the region. In the mid-quarter, prices eventually increased following the end of the Lunar New Year holiday, as market participants replenished material available in the domestic market, anticipating a potential recovery in demand, particularly in industries such as chemicals and water treatment. However, there was a persistent indication of price bearishness in the last month of the quarter, backed by persistently lower downstream demand, increasing inventories among local merchants, and dropping feedstock costs.
Europe
During the first quarter of 2023, Liquid Sulphur Dioxide prices in the European region continued to follow a declining trajectory, as did market sentiments. On the heels of falling feedstock Sulphur prices, there was dwindling cost pressure across the product market. Domestic suppliers had sufficient supplies on hand as the slump in the manufacturing sector eased due to fading supply chain issues in the European market. However, demand for downstream chemicals such as sulfuric acid, sulfites, and dyes remained slow, with few new orders. Despite falling freight charges, overseas purchasers remained cautious about monitoring the short-term market prospects. As a result, several distributors were obliged to lower their pricing since market activity had not met expectations thus far.
For the Quarter Ending December 2022
North America
During the fourth quarter of 2022, the market price of Liquid Sulphur dioxide plunged in the North American market affecting the market sentiments. Liquid Sulphur Dioxide values in the domestic market remained range bound in tandems with a mixed demand pattern across the country. Plunging demand for Liquid Sulphur Dioxide as a refrigerant at the onset of the winter season in the country considerably pushed down the prices of the product in September. Quotations of Liquid Sulphur Dioxide in the domestic market remained weak, with higher supply from several European and Asian countries due to container abundance and weakening freight charges. In addition to logistic disruption, the spillover effect of decrement in its international prices largely weighed to pull down its values in the USA.
Asia
The market prices of Liquid Sulphur dioxide plummeted in the Asian market during the last quarter of 2022, with feedstock Sulphuric Acid and Ammonium Sulphate prices falling, witnessing notable deterioration. The quotation of Liquid Sulphur dioxide by the traders was weak, which was used for reference in the Indian market. To relieve inventory pressure, the enterprise lowered its price due to poor shipments from domestic refineries. The manufacturing firms operated at weaker production rates, and the supply of goods was in normal circulation. The downstream fertilizer price has also reduced in the Asian market with more inventory which supports the downstream derivative industries in the local market.
Europe
In the Q4 of 2022, Liquid Sulphur dioxide prices fluctuated throughout the quarter in the European market. The upstream raw material Sulphur has fallen in the European market due to the decreased international crude oil prices. Demand in downstream industries plummeted, and the abundant supply of sulphuric acid due to the shutdown of specific industries in the European regional market caused the downstream prices to tumble down further. This has decreased the cost of Liquid Sulphuric Acid in the local market as well. The domestic market for Liquid Sulphur dioxide witnessed a downward trajectory in the last month of the quarter compared to the previous month. The freight prices had fallen in the European market with more inventory and supported the operating costs in the region as well. Weak demand from downstream Sulphuric Acid ultimately price reduced Liquid Sulphur dioxide.
For the Quarter Ending September 2022
North America
In the third quarter of 2022, the requirement for Liquid Sulphur Di Oxide is supported by a fluctuation in demand from downstream sectors. Projections for fertilizer demand losses are wide-ranging and, in several instances, overstated during the beginning of the quarter. The demand from downstream also remained underwhelming as consumption from the fertilizer market decreased towards the end of the quarter. Because of higher volumes of demand at the end of the quarter, higher congestion at some US ports caused global supply chain challenges in the region.
Asia
The prices of Liquid Sulphur Di Oxide decreased in the Asian market during the third quarter of 2022, with prices ranging at INR 42720/ton Ex-Ahmedabad. The upstream Sulphur price is reduced in the Asian market due to more inventory and supports the downstream derivative industries in the local market. Weak demand from downstream Sulphuric Acid ultimately reduced the prices of Liquid Sulphur dioxide. Demand in downstream industries and abundance in the supply of Sulphuric Acid in the Indian region was increasing. Discussions of Liquid Sulphur Dioxide in the domestic market remained weak, with abundant supply from several European and Asian countries due to an increase in importing ships and weakening freight charges.
Europe
The demand for Liquid Sulphur Di Oxide fell in the European market during the third quarter. Fertilizer demand from the regional market has affected the buying sentiments. Due to the war between Russia and Ukraine and the sanctions, the disruption in supply from Russia to European regions has impacted trade. Prices fell as feedstock (Crude Oil) in the regional market with falling consumption levels. The market's end-user purchasing pattern is waning, which lowers the cost of Liquid Sulphur dioxide even more. The price is pushed lower by increased supply and available inventories of the product.
For the quarter Ending June 2022
North America
In the second quarter of 2022, the upstream Sulphur market rose continuously since February 2022, which led to the price of downstream Sulphur dioxide throughout the second quarter. The upstream Sulphur has increased owing to the restriction on the imports of fertilizers from Russia amidst the rising food pricing index, forcing the domestic players to lean toward the suppliers from the Middle East. Liquid Sulphur dioxide is the intermediate product in the production of Sulphuric Acid. The strengthened value of Crude Oil is persistently soaring, and the demand outlook downstream is healthy, especially from the chemical intermediates and fertilizers industries.
Asia-Pacific
In the second quarter of 2022, the Liquid Sulphur-dioxide was observed to increase in the Asian region. As a result, the demand for downstream Sulphuric Acid rose in Liquid Sulphur dioxide prices in the region. The high buying trend from the end-users sectors put pressure on the product. Because of the demand from the fertilizer industries, the cost pressure from the upstream Sulphur market increased in the Indian market. The rise in demand for Liquid Sulphur Dioxide as a refrigerant at the onset of the summer season in the country considerably pushed up the product's prices in the quarter. The percentage of Liquid Sulphur dioxide was recorded at an inclination of 1.3% on an Ex-Ahmedabad basis during the quarter end.
Europe
In the European region, the price of Liquid Sulphuric Acid showed an upward trajectory throughout the second quarter of 2022. The upstream feedstock Sulphur price rose, which led to the downstream derivatives like Sulphur dioxide, and Sulphuric Acid. The cost pressure from the upstream Sulphur strengthened, which drove the prices of Sulphur dioxide. The increased buying sentiments from the food preservative industry also raised the product's price. Due to Russia's invasion of Ukraine, the supply chain disruption impacted the region. The high operational cost was also the reason increase in price. The insufficient supply of products in the market to meet the demand further raised the price of Liquid sulphuric Acid.
