SHANGHAI, Jul 6 (SMM) – The sulphuric acid market in June remained subdued, with demand showing little sign of improvement. On the supply side, there were no major changes; although major sulphuric acid plants in Central and Northern China underwent maintenance, the high inventory levels of sulphuric acid at copper smelters limited any positive impact on supply. On the demand side, the fertilizer market has not seen any significant improvement as it enters the off-season for agricultural fertilizer preparation. Not only are the inventories of sulphuric acid high at copper smelters, but fertilizer producers also face elevated inventories. Furthermore, demand from titanium dioxide companies was weak, and the market generally holds a bearish view. Overall, it is challenging to reverse the oversupply situation in the sulphuric acid market, as both acid-producing and acid-consuming companies have generally high inventories. The ex-factory prices of sulphuric acid in many regions were operating at low levels. Since the second quarter of 2023, domestic sulphuric acid demand has been stagnant, with companies focusing on seeking export opportunities. In May 2023, China's sulphuric acid exports reached 189,000 mt, a month-on-month increase of 13.55%, but a year-on-year decrease of 43.42%. The largest share of China's sulphuric acid exports was to Indonesia, accounting for 30.82%, with an export volume of 58,000 mt.
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