Shengyishe's September 2 port inventory release put national sulfur stocks at 961,400 tonnes on September 1, a count SunSirs carried the same day.
The breakdown listed Fangchenggang at 400,000 tonnes, Beihai at 20,000, Zhanjiang at 226,000, Zhenjiang at 211,000, Nanjing at 10,000, and Dafeng at 89,000.
Shengyishe's PriceSeek commentary flagged the total as elevated and assigned a bearish score, citing supply-side pressure on spot prices.
The inventory print arrived alongside Feidoodoo's September 1 phosphate fertilizer daily, which put Zhenjiang granular at 7,550 yuan per tonne and Dafeng at 7,530 yuan, both unchanged from the prior session.
That pairing of high port stocks and flat granular quotes matches Longzhong's September 4 read that early September firming is a bounce, not a demand-led rally.
Autumn phosphate fertilizer stocking was described as below expectations in Longzhong's account, limiting how far port prices can run even when the national benchmark holds near 8,600 yuan.
Caixin's September 1 reporting quoted Yunnan Yuntianhua officials saying sulfur at 7,000 to 8,000 yuan per tonne remains expensive versus historical norms despite a near 40 percent fall from the June peak above 12,000 yuan.
The same article noted phosphate producers are advancing phosphogypsum acid projects with economics that improve when sulfur exceeds roughly 1,800 yuan per tonne, a structural demand shift that does not remove near-term price resistance.
For Alberta and British Columbia recovery tonnes, high Chinese port stocks set the competitive ceiling against which Pacific stems bid into Indonesia, India, and the Yangtze.
SMM's open analysis earlier in 2026 described Canada filling gaps in those markets while rail capacity stayed saturated, with FOB Vancouver rising from roughly 492 dollars per tonne at the start of the year toward the 680 to 720 dollar range by spring.
Middle East seaborne through Hormuz remains impaired in open trade reporting, so Chinese port inventory and domestic refinery output matter more than Gulf contract postings for Pacific nomination timing.
National port inventory statistics were updated on Oilchem's platform on September 4, but the detailed tonne count sits behind the same subscription wall Longzhong referenced only qualitatively.
Desk read: September 1 port stocks at 961,400 tonnes confirm supply-side weight on Chinese spot prices even as granular quotes stabilize near 7,550 yuan. Pacific sellers should watch whether inventory draws accelerate with autumn stocking or whether high stocks cap the early-September bounce.