en.Wedoany.com Reported - Amid the ongoing impact of geopolitical events, international sulfur supply has slowed noticeably, with sulfur trading prices in the U.S. Gulf Coast region near Houston rising to $1,300 per metric ton, intensifying concerns over fertilizer availability for growers this quarter.
Corey Rosenbusch of the American Fertilizer Institute stated that sulfur is currently the most closely watched nutrient, serving both as an important fertilizer and as a key raw material in phosphate fertilizer production. More than half of globally traded sulfur transits through the Strait of Hormuz, yet no vessels carrying fertilizer or sulfur have been seen departing from the strait so far. Rosenbusch believes that a significant portion of sulfur supply is being purchased by Chinese buyers for mining operations. With copper and nickel selling at up to $18,000 per metric ton, compared to just around $600 per ton for phosphate fertilizer, mining operations have significantly greater purchasing power, which is sufficient to drive sulfur prices to levels that phosphate production can hardly afford. He revealed that Morocco, the Middle East, and the United States have begun shutting down phosphate fertilizer production.
Rosenbusch noted that the sulfur issue has not yet manifested in the United States, and he will closely monitor changes in these markets over the coming months.
On the energy market front, U.S. President Trump stated that a deal with Iran could be reached as early as tomorrow, but GasBuddy oil analyst Patrick De Haan believes the market remains cautious. He noted that negotiations over a potential agreement have been ongoing for five months without a final deal, and the lack of certainty over the outcome is why the oil market leans bearish.
De Haan is also keeping an eye on the situation in Ukraine. He said that Ukrainian forces continue to counterattack against Russia, and recent strikes on Russian refineries will exert pressure on the oil market comparable to that of a conflict involving Iran.
