The Global Sulphur Market Outlook Q4 2025 on a firm note, with Indian demand pushing prices higher and global supply dynamics remaining tight. Refinery maintenance, shifting trade flows, and weak sulphuric acid prices continue to shape the international outlook.
India: Sulphur Prices Rise on Import Demand
The Indian sulphur market strengthened this week, with granular sulphur gaining to $335–340/t CFR on firm bids and limited supply. Spot trades for October cargoes were confirmed slightly above this range.
Domestic refinery output remains low, supporting import demand. Mainstream offers reached $340–350/t CFR, while non-mainstream cargoes ranged $325–380/t CFR. Key buyers FACT and Coromandel were actively sourcing October tonnes.
However, sulphur burners face margin pressure, as falling sulphuric acid prices erode downstream profitability.
Global Sulphur Market Outlook Trends
China: CFR prices held steady at $160–330/t. Imports from January–August rose 7% YoY to 7.22mn t, with non-mainstream Middle East shipments doubling. Imports from Saudi Arabia and Qatar fell 41% and 11% respectively.
Middle East: FOB values increased to $320–325/t on stronger tender bids.
Iran stable at $260–290/t FOB.
Qatar tender bids reached $320–333/t FOB.
Jordan covering 35,000t for October.
Europe & Mediterranean:
West Europe held steady at $330–470/t delivered, with Q4 contracts under discussion.
Mediterranean FOB rose to $285–288/t, CFR to $320–326/t, as reduced Russian supply and October demand supported the market.
Africa:
North Africa stable at $265–308/t CFR.
Southern Africa lifted to $335–340/t CFR.
Tanzania surged to $405–410/t FCA Dar es Salaam.
Brazil: Spot CFR climbed to $350–352/t, up from $319–320/t last week. Import demand is expected to grow further in October–November.
Outlook
The sulphur market outlook for Q4 2025 remains firm, with India and Brazil driving demand, China increasing non-mainstream imports, and Middle East tenders keeping FOB levels elevated. Tight supply and shifting trade flows are challenging buyers, while weak sulphuric acid prices continue to squeeze margins. Analysts expect prices to remain supported through the end of 2025.
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