Sulfur prices soar 184% YoY on geopolitical supply cut

China's sulfur prices continued to present a strong momentum in the first half of the month, as geopolitical tensions brought supply cut, and downstream demand regained vitality. Against this background, China's three state-owned oil giants actively responded to the supply guarantee policies for ensuring the supply of agricultural inputs.

Sulfur became a high-profile commodity amid escalating geopolitical tensions. Recent data shows that supply shocks, compounded by structural demand growth, have driven prices to historic extremes. Sinopec, PetroChina and CNOOC, China's three state-owned oil giants, carried out the national requirements for ensuring the supply of agricultural inputs. Before the outbreak