Global sulphur trade slowed this week in response to the uncertainties in China, as market participants digest news of the yuan devaluation by China's central bank, and the newly confirmed re-imposition of VAT on all fertilizers in China. VAT will be levied at a rate of 13pc on Chinese fertilizer sales, exports and imports from 1 September. But details of the implementation have not been sent to local customs offices yet, therefore it is too early to draw any conclusion in regards to the implications on sulphur.
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