China sulfur market may remain strong in April on low port inventory

Data from OilChem shows that sulfur inventories at China's major ports have fallen to a relatively low level compared to the past two years, exhibiting a significant negative correlation with market prices. Analysis indicates that sustained low imports, cautious procurement by traders, and shipping disruptions in the Middle East are the main reasons for the inventory drawdown. Port stocks are expected to deplete further in April, supporting strong market prices.

As of early April, sulfur inventories at China's major ports stood at 1.5099 million tonnes, marking a year-to-date low and a relatively low level within the past two years. The negative inventory-price correlation was particularly pronounced in March: stocks dropped rapidly from approximately 1.74 million tonnes to 1.5333 million