Alberta and Pacific export desks entered the 11 November session with China's national sulfur benchmark parked for a second day at the 9 November correction level, a print that now sits more than 50 percent below the mid-June 2026 cyclical high on open domestic wires while coastal inventories remain far leaner than the same month last year.
Shengyishe's 100ppi morning benchmark notice at 08:30 on 11 November carried 5,151.75 yuan per metric tonne, unchanged day on day at 0.00 percent and down 3.6 percent from the 5,344.25 yuan November open on the same header.
The annual statistics block on that 100ppi page for the window from 11 November 2025 through 11 November 2026 listed a maximum of 11,084.33 yuan per tonne and a minimum of 3,337.67 yuan, with the session print marking the bottom of the one-year range on the open table.
Tonghuashun iFind's dedicated sulfur spot HTML for 11 November printed 5,151.75 yuan per tonne, flat versus 10 November, with cumulative moves of minus 122.5 yuan or 2.32 percent over the past week and minus 2,167.25 yuan or 29.61 percent over the past month on the iFind table.
Phoenix finance's 11 November commodity relay, citing iFind, put the Shengyishe benchmark down 53.6 percent from the 16 June 2026 year high of 11,050.63 yuan, a useful cross-check against the 11,084.33 yuan annual maximum on the 100ppi statistics line.
The same domestic relay quoted Yangtze port imported granular sulfur at 5,000 to 5,100 yuan per tonne, Shandong refinery liquid sulfur at 5,250 to 5,400 yuan, and Zhenjiang port granular near 4,850 yuan, illustrating the spread between the national benchmark header and port-level replacement costs.
SunSirs on 11 November paired the yuan pause with an international read that Qatar's November contract sulfur price fell to 735 dollars per tonne FOB, North Africa and Indonesia spot hovered near 850 to 860 dollars per tonne CFR with a downward trend, and monitored coastal elemental sulfur stocks near 1.1251 million tonnes as of 9 November.
SunSirs described that 1.1251 million tonne coastal cover as nearly 50 percent below the same period last year, echoing the lean-inventory story Shengyishe's rawmex wire had already detailed on 10 November with Fangchenggang 420 thousand tonnes, Beihai 18 thousand tonnes, Zhanjiang 355 thousand tonnes, Zhenjiang 220 thousand tonnes, Nanjing 10 thousand tonnes, and Dafeng 79 thousand tonnes.
The combination of a halved yuan benchmark from the June peak and sub-year-ago port cover is the tension Pacific desks watch when they size Vancouver stems: replacement cost has collapsed, yet physical cover is not rebuilding to last year's cushion.
ChemPriceHub's international roundup published 6 November for the 5 November market remains the last verified open partial for November Gulf nominations, with QatarEnergy QSP at 735 dollars per tonne FOB Ras Laffan and Mesaieed and Kuwait Petroleum Corporation KSP at 720 dollars FOB, each down 100 dollars from October.
Abu Dhabi National Oil Company November OSP Ruwais and Saudi Aramco's monthly sulfur posting had still not appeared on the open English pass at desk time on 11 November, so October's ADNOC 890 dollars FOB Ruwais row stays the last fully sourced UAE contract until a dated November dollar level prints.
ChemPriceHub's mid-October Vancouver FOB band near 830 to 840 dollars per tonne and the fresh SunSirs Indonesia CFR band near 850 to 860 dollars still frame stem competition for Alberta formers when Chinese buyers delay nominations.
For machine-readable China rows, china-benchmark-daily.json adds an 11 November verified_public stamp at 5,151.75 yuan with the 100ppi morning benchmark URL; port inventory metadata remains on the 9 November 1.1251 million tonne line until Shengyishe posts a fresher coastal aggregate.
Licensed Argus, CRU, and ICIS weekly assessment grids stay with their publishers; Sulfur Wire restates only figures already on open wires with URLs.
Desk read: treat 5,151.75 yuan as the 11 November spot and benchmark reference, keep 1.1251 million tonnes as coastal cover dated 9 November, and run nomination math with November QSP 735 dollars and KSP 720 dollars while ADNOC November stays blank on open English feeds.