00:00As the global price of sulfur continues rising, Chinese companies that use the essential
00:05raw material to make chemicals are seen stockpiles dwindle and are taking
00:09prevention.
00:10And they are taking preventative measures for the short term.
00:12A manager of a chemical company in China's Yiqiang,
00:15explained that prices have been increasing over the past year and a half, but then shot up.
00:20In October, by more than 60% in two months.
00:25We have about 12,000 tons of sulfur in stock, all of which were transshipped.
00:30From Xinjiang port, because China's dependence on sulfur imports is relatively large.
00:35The impact of rising international sulfur prices on China is very direct.
00:40Sulfur is an indispensable raw material used to make fertilizer, batteries,
00:45and medicine, amongst other things, due to growth in the new energy vehicle and AI.
00:50sectors, plus global geopolitical disruptions, sulfur prices have been rising.
00:55As a result, some Chinese chemical companies are trying to reduce their dependence on
01:00it by purchasing only what they need.
01:02We have already
01:05reduced our procurement frequency for sulfur.
01:08We have also proactively
01:10secured supply contracts with upstream smelter gas-based sulfuric acid plants as a partial replacement.
01:15China is one of the world's top four sulfur producers, but it also
01:20consumes a lot, importing about 50% of its annual needs as of mid-January.
01:25The price of sulfur at the port in eastern China's
01:28Tianjiang was one of the most expensive prices.
01:30The price of sulfur at the port in eastern China's Tianjiang was one of the most expensive prices.
01:30180% higher than roughly a year ago.
01:31The price of sulfur at the port in eastern China was 180% higher than roughly a year ago.
