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A large share of global sulfur is sourced from refineries and gas processing facilities in the Persian Gulf, and this supply was affected by the events in the Strait of Hormuz.
Simultaneously, the danger to fertilizer and food markets compelled China to implement export limitations in May, resulting in increased prices and more decreased availability, as stated by Freda Gordon, director of Acuity Commodities.
Sarah Marlow, head of fertilizer pricing at Argus, informed the publication that Chile and Indonesia are likely to be the markets most affected by China's export restrictions.
In particular, as reported by Argus, sulfur costs in Indonesia have increased by over 80% since the conflict began. Local nickel manufacturers, primarily obtaining their sulfur from the Middle East, have started to cut back on the production of the metal, essential for electric vehicle batteries and stainless steel, as stated by executives in the metallurgical sector to the WSJ.
source: wsj.com
Simultaneously, the danger to fertilizer and food markets compelled China to implement export limitations in May, resulting in increased prices and more decreased availability, as stated by Freda Gordon, director of Acuity Commodities.
Sarah Marlow, head of fertilizer pricing at Argus, informed the publication that Chile and Indonesia are likely to be the markets most affected by China's export restrictions.
In particular, as reported by Argus, sulfur costs in Indonesia have increased by over 80% since the conflict began. Local nickel manufacturers, primarily obtaining their sulfur from the Middle East, have started to cut back on the production of the metal, essential for electric vehicle batteries and stainless steel, as stated by executives in the metallurgical sector to the WSJ.
source: wsj.com