In June 2026, the domestic sulfuric acid market showed an overall trend of high volatility, alternating rises and falls, strong resilience, and intensified regional differentiation. The overall price center shifted significantly upward compared to May, and the monthly overall closing rose, completely breaking away from the weak and volatile market in the previous period. The overall resistance of the market to decline significantly increased.

From a cost perspective, the core characteristics of the cost side in June were wide fluctuations in sulfur, steady strengthening of auxiliary materials, and a shift in market pricing from cost anchoring to supply and demand dominance, with cost support. The sulfur price at the port surged to 11600 yuan/ton in the first half of the month, but fell back to 9200 yuan/ton in the second half, with a monthly fluctuation of over 2400 yuan/ton; But the sulfur inventory at the port is at a low level for many years, and the space for deep decline in raw materials is limited. The price of sulfur concentrate has slightly increased, continuing to support the cost of mineral acid. The industry has obvious profit differentiation, with sulfuric acid generally experiencing cost inversion losses, while mineral acid and smelting acid still maintain reasonable profits.
Supply side: Maintenance and production reduction, tight supply of goods
In June, the industry entered the concentrated maintenance season, coupled with the loss reduction of sulfuric acid enterprises, the national sulfuric acid production rate decreased year-on-year, and the overall spot inventory was low. Multiple sets of main equipment in Central and East China have been shut down for maintenance, resulting in a temporary supply gap. The production of new capacity has been delayed, and there will be no incremental release in the short term. At the same time, sulfur resources are directed towards the phosphate fertilizer market, causing a shortage of raw materials and limited production for chemical grade acid enterprises. The market supply is rigidly shrinking, and enterprises have a strong willingness to raise prices.
On the demand side: Traditional demand is weakening, and new energy demand is providing support
The structural differentiation of downstream demand is significant. Traditional downstream industries have entered the off-season, with low production and losses in industries such as phosphate fertilizers, titanium dioxide, and caprolactam. They are strongly resistant to high priced sulfuric acid and tend to purchase on demand without stocking up. The only support comes from the new energy track, with high production and sufficient orders in the iron phosphate and lithium iron phosphate industries, stable procurement of essential needs, effectively offsetting the decline in traditional demand, and becoming the core support for high acid prices.
In June, the market situation in various regions showed significant differentiation, with an overall pattern of central China leading the rise, southwest supplementing the rise, southern China differentiation, and stability maintenance in eastern and northern China. Central China has centralized maintenance, scarce supply of goods, and strong demand for new energy, resulting in a strong upward trend in prices; The low-priced supply in Southwest China has been cleared, and the demand for phosphate fertilizers and new energy has rebounded, leading to a steady increase in acid prices; The price difference within the South China region has widened, with Guangxi and Fujian being stronger and some parts of Guangdong being weaker; Due to the decrease in sulfur prices, cost support in East China has loosened, while North China has slightly strengthened, with limited overall fluctuations in both regions.
From the perspective of Business Society, the overall forecast for the sulfuric acid market in July is that it will remain strong at a high level, slightly biased towards strength, and regional differentiation will continue, with no significant fluctuations. On the supply side, equipment maintenance continues, new production capacity is temporarily suspended, and market supply remains tight. Low sulfur inventory forms a cost floor, and the market bottom is firmly supported. On the demand side, in the mid to late autumn, fertilizer preparation is launched, and traditional demand is marginally recovering. Coupled with the sustained high demand for new energy sources such as lithium iron phosphate, overall demand support is sufficient. From a phased perspective, the market remained stable and slightly strong in the first half of the year, with some areas experiencing an upward trend of 50-100 yuan/ton in the middle. The pattern of regional price differentiation will continue.