By-product trends--Sulphuric acid: Spot trading reduced, high prices may soon retreat

摘要

In April, spot business was thin as prices remained high for prompt deliveries. Chile is still at the top of the market since copper leach/SXEW miners have much more motivation to buy acid amidst high LME copper prices than acid consumers from the fertilizer sector. Constraints on sulphuric acid supply from northeast Asia are unchanged, but unexpectedly large quantities have been arriving in Chile over the past few months. Congestion at Mejillones port is expected to worsen as vessels with contractual and spot material compete for space to unload their cargoes.