Sulphuric Acid Exports Saw Significant MoM Growth in November, Expected to Continue Increasing in December [SMM Analysis]

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       According to customs data, China exported 256,200 mt of sulphuric acid in November 2024, up 34.54% MoM but down 28.8% YoY. As of November, China’s total sulphuric acid exports reached 2.1633 million mt, with a cumulative YoY decline of 11.93%.

       Specifically, in November, China’s sulphuric acid exports involved 24 countries and regions. Chile, Saudi Arabia, and India ranked as the top three importers with volumes of 126,400 mt, 62,100 mt, and 50,000 mt, accounting for 49.33%, 24.22%, and 19.51%, respectively. From the perspective of domestic provinces and cities, Anhui, Guangxi, and Shanghai ranked as the top three exporters with volumes of 80,400 mt, 71,900 mt, and 62,900 mt, accounting for 31.39%, 28.04%, and 24.57%, respectively.

       According to SMM’s inquiry with a copper smelting enterprise in east China, China’s total sulphuric acid exports for 2024 are expected to remain flat or slightly higher than last year, suggesting that December’s export volume may continue to grow. Currently, the export business of major coastal acid plants has become an important means of balancing the domestic market, and the export operations of these key plants are also progressing steadily. As 2024 comes to an end, while domestic sulphuric acid capacity expands, downstream chemical industry demand has also slightly increased. However, the oversupply situation in the industry remains unchanged. Looking ahead to 2025, China’s sulphuric acid capacity is expected to continue rising, but demand growth may lag behind supply growth. Increased competition in overseas markets adds to the uncertainty of the domestic sulphuric acid market, making the price trend of sulphuric acid in 2025 even more unpredictable.