Sulfur Wire North American sulfur intelligence

Outlook · 2025-03-15

2025 rally begins as Vancouver FOB triples prior-year pace

Formed sulfur piled at a Pacific bulk terminal under a dark sky
Formed sulfur at a Pacific bulk terminal, the visual of Alberta tonnes waiting on the Vancouver stem. Sulfur Wire · Original

Early 2025 opened a new firm phase. Argus later reported that January-July 2025 Argus Vancouver sulfur averaged $238/t FOB, more than triple the $78/t FOB average over the same period a year earlier. Solid sulfur exports via Vancouver reached 2.04 Mt in January-July 2025, up nearly 5% year on year, with stronger Brazil and Cuba receipts and steady Australia volumes. Higher FOB finally justified remelt of Alberta blocks for rail to British Columbia forming and vessel loadout. Port authority year-end figures would later show 3.5 Mt sulphur for full-year 2025 (+5%). UNCERTAIN: exact Q1-only Vancouver average inside the Jan-Jul $238/t window. Early 2025 opened the firm phase that defines the late cycle. Argus’s January-July Vancouver average of $238/t FOB, more than triple the prior-year window’s $78/t, is the headline public price fact for Canadian solids. Solid exports of 2.04 Mt in the same months, up nearly 5%, show volumes responding while destination mix shifted toward stronger Brazil and Cuba receipts. Remelt economics cleared for many Alberta tonnes that had stayed in block during 2023-24 softness. Port authority year-end figures later confirmed 3.5 Mt sulphur for 2025, continuing the volume ladder. Q1 alone sits inside the stronger H1 average; weekly licensed prints are not redistributed here. For corridor analysts, the first quarter marks when Pacific Canadian sulfur stopped looking like a soft-market residual and started looking like a high-utilization export program.

Key points

  • Argus: Vancouver Jan-Jul 2025 avg $238/t FOB vs $78/t prior-year window.
  • Vancouver solid exports Jan-Jul 2025: 2.04 Mt (+~5% YoY).
  • Full-year 2025 port sulphur later 3.5 Mt (+5%).
  • Elevated FOB flipped remelt economics versus pour-to-block.
  • UNCERTAIN: Q1 2025 monthly FOB path within the H1 average.

Sources

Public reference summary. Weekly PRA assessments require a commercial license. Not investment advice.

Alberta sulfur inventory, year-end prints Mt 2021 12 2022 12 2023 12 2024 12 2025 12 AER ST3 closing inventory (verified_public)
Alberta sulfur inventory, year-end prints AER ST3 closing inventory (verified_public)

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2024-12-15Outlook stream2025-06-15