December Sulphuric Acid Exports Hit a New High for the Year: What Are the Reasons? [SMM Analysis]

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According to data from the General Administration of Customs, China exported a total of 519,700 mt of sulphuric acid in December 2024, up 95.83% YoY and 102.85% MoM. For the entire year of 2024, cumulative sulphuric acid exports totaled 2.6831 million mt, down 1.42% YoY.

Specifically, the top three countries importing sulphuric acid from China in December were Chile (227,700 mt), Saudi Arabia (92,100 mt), and Indonesia (67,800 mt). Chile's imports from China significantly outpaced the others. According to SMM's survey of some domestic copper smelting acid enterprises, overseas sulphuric acid prices were relatively favorable in December, prompting domestic sulphuric acid producers to increase export volumes. Additionally, new and expanded capacity at domestic copper smelters came online in December, leading enterprises to preemptively boost export volumes. These factors combined to push China's sulphuric acid exports in December to a new annual high.

From the perspective of exporting provinces, Jiangsu Province exported the most sulphuric acid in December, totaling 309,700 mt and accounting for 59.58% of the total. It was followed by Guangxi Zhuang Autonomous Region (135,400 mt, 26.04%) and Shandong Province (33,700 mt, 6.48%).

Data Source: General Administration of Customs

SMM Expects Sulphuric Acid Exports to Remain High in January

Entering January 2025, sulphuric acid export prices remain optimistic, while domestic sulphuric acid prices in some regions have gradually cooled, with domestic market demand slightly weaker than before, benefiting the export market. Additionally, domestic copper smelters are unlikely to halt their increased sulphuric acid export strategies driven by capacity expansion in the short term. Therefore, SMM expects China's sulphuric acid exports to remain high in January.