Sulfur prices have doubled during the year, disrupting the chemical industry chain.

The domestic sulfur spot price recently broke the 10,000 yuan mark, and the market heat continues to rise. As of June 12, the mainstream transaction price of solid sulfur at Zhenjiang Port and Dafeng Port rose to a record high of 11,600 yuan/ton, with a cumulative increase of over 210% since the beginning of the year. This is nearly 10 times higher than the low point in the second half of 2024, and it marks the strongest market trend since 2008. The sharp fluctuations in raw material prices have quickly spread downstream in the industry chain: upstream refining and chemical companies such as Rongsheng Petrochemical and Sinopec have clearly benefited from the rise in sulfur prices, while midstream and downstream industries such as titanium dioxide and phosphorus chemical industry face pressure from steep cost increases and declining production. Industry insiders point out that this high price of sulfur is not a short-term disturbance, but rather a result of geopolitical conflicts and global supply-demand mismatches. As a core upstream raw material for sulfuric acid, phosphorus chemicals, titanium dioxide, and compound fertilizers, the "price breaking 10,000" of sulfur is triggering an industrial chain restructuring from the cost center to the profit pattern.