USGS reports Tampa contract sulfur reached $481 per long ton in early April 2022, the high-water mark of the post-pandemic cycle before the mid-year collapse. The peak aligned with Vancouver FOB near multi-year highs and Middle East QSP and OSP markers in the mid-$400s per tonne. The PDF is at https://pubs.usgs.gov/periodicals/mcs2023/mcs2023-sulfur.pdf.
Tampa had opened 2022 around $282 per long ton. The climb to $481 is the second-quarter settlement path USGS recorded. The 26 May Argus sample still listed CFR Tampa at $481 per long ton, FOB Vancouver $476-480, QSP $460. Early April is the USGS date for the peak. May is the sample date that still sat on that plateau.
Alberta recovered sulfur still leaves mainly through Vancouver. $481 Tampa is the US molten contract. $478 Vancouver FOB is the Pacific solid. Molten rail from Alberta into Florida and Gulf phosphate plants delivered into the $481 world. Formed tonnes to China delivered into the $471 CIF world. Two doors, one spike. Remelt of Alberta block was strongly profitable.
TFI's USDA comments cited sulfur prices up 198 percent from March 2021 to March 2022 as a critical ammoniated-phosphate input cost. $481 in early April is that cost-shock at its Tampa extreme. Russia's 24 February invasion had already layered war-risk onto an already firm market. Chinese phosphate inspections from October 2021 had tightened processed-phosphate trade. Three supports, one $481 print.
Mid-July $352, USGS, is the first step down. Fourth-quarter $90 is the close. $481 is the reference peak against which 2025's $310 October and 2026's $705 Q3 are compared. Level comparisons must respect that 2022 reversed inside two quarters. Licensed weekly grids are not restated. The $481 per long ton figure is USGS.
US 2022 unit value about $150 per tonne, production about 8.6 million tonnes, shipments near $1.3 billion, is the annual average pulled up by this peak. Mosaic's later utilization cuts are the demand response. Higher Gulf refining is the supply response. The mismatch is the crash.
Keg River and Fertecon Vancouver notes in March of $330-340 to $385-400 per tonne FOB are the climb toward the May $478. Early April Tampa $481 is the molten hub arriving first. Seaborne solid peaked in May-June. Two calendars.
Figures follow USGS MCS 2023. Early April $481 Tampa is the high-water mark of the 2022 cycle.