Disruptions to Middle East Supply Flows: China’s Sulfur Imports Fall Below 300,000 Tons in April

While the single-month import volume of 295,500 tons marked the second-lowest monthly figure in nearly two decades, it also extended the direction of simultaneous month-on-month and year-on-year declines. Furthermore, the sharp reduction in imports observed in April 2026 differs fundamentally from the historical low recorded in October 2008. That earlier low point was a direct consequence of the Global Financial Crisis; as market prices continued to direction downward, traders and downstream companies were compelled to implement a passive, wait-and-see stance. The resulting proactive reduction in imports and risk-aversion strategies constituted a rational operational response characterized by "reducing positions" (scaling back inventory) in the face of falling prices. The sharp decline in import volumes observed in April of this year was the result of a dual impact: geopolitical conflicts disrupting resource exports and high prices dampening purchasing appetite. The direction of high prices coupled with reduced volumes during this period—which deviates somewhat from traditional market trade logic—reflects the presence of unique factors within the fundamental supply-and-demand dynamics of the market.

Based on the aggregate import data to the January-to-April period, the ranking of trading partners remains unchanged from the top-tier countries identified in the first quarter's data. As illustrated in the figure above, the top five trading partners are South Korea, Canada, Oman, Saudi Arabia, and Japan—a list that aligns perfectly with the top five countries ranked by cumulative import volume to the January-to-March period. to the first four months of this year, these top five trading partners accounted to a combined import volume of 1.4347 million tons of sulfur, representing approximately 77.73% of my country's total sulfur imports to the period.

Current indications suggest that domestic sulfur import figures to might might hit yet another new low; the prevailing pattern of low monthly import volumes is unlikely to change in the short term. Data reveals that sulfur arrivals at Chinese ports remained tight throughout might; consequently, import volumes are highly likely to fall below the 295,500 tons recorded in April, with a distinct possibility of even challenging the historical low of October 2008. As of might 20, the volume of imported solid sulfur resources arriving at major domestic ports stood at less than 100,000 tons. Regarding fluid sulfur, sector rumors had already circulated that scheduled shipments to the month would struggle to reach the 100,000-ton level seen in April; given this context, even if additional imported resources were to arrive later in the month, the overall sulfur import figures to might appear destined to remain at a low ebb. As to scheduled imports in June, there are currently sector rumors regarding the possible inflow of additional sulfur resources into the domestic market; however, the specific details require further observation and verification.