SunSirs August analysis said quoted Middle East sulphur prices softened while landed costs in the Far East stayed elevated.
Alberta recovered sulfur still leaves mainly through the Vancouver stem. World supply shocks show up there as stem tightness, remelt draws, and Gulf-versus-Pacific basis.
Kuwait KPC set August FOB sulphur at $865/t, down $85/t month on month; Qatar Energy held August FOB at $890/t. Base freight to China on 30,000-35,000 t vessels was estimated at $140-155/t, implying theoretical CFR near $1,005-1,045/t, but SunSirs said maritime insurance surcharges on Hormuz-risk cargoes reached as high as $200/t, pushing all-in landed cost above $1,070/t.
The report also noted Indian sulphur exports effectively ceased after May and Turkish refiner Tupras August tender prices rose sharply. Corporate commentary cited a possible supply crunch persisting into 2027.
Public market commentary only.