Dramatic and unexpected declines in Chinese domestic sulphur prices dominated talk at the start of 2016 as market participants considered the degree to which other global benchmarks may be affected in the weeks ahead. The domestic sulphur market in China was said to be in a state of near panic as suppliers looked at the insipid demand from phosphate producers and slashed prices to stimulate some movement. Destocking by Sinopec Puguang ahead of the Lunar New Year meant repeated domestic price cuts over the space of a week.
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