Core Insights - China's customs data indicates a significant increase in sulfur imports, with a total of 6.438 million tons imported in the first seven months of the year, representing a year-on-year growth of 8.9% [1] - The average import price for sulfur rose to $240.1 per ton, marking a substantial increase of 131.8% compared to the previous year [1] - In July alone, sulfur imports reached 1.094 million tons, showing a month-on-month increase of 10.6%, while the average import price decreased by 4.0% to $283.0 per ton [1] Sulfuric Acid Imports - In July, China imported 0.008 million tons of sulfuric acid, which is a significant month-on-month decrease of 67.6% [1] - Excluding high-priced acid, the average import price for sulfuric acid was $70.8 per ton, reflecting a month-on-month increase of 4.0% [1] - For the first seven months, total sulfuric acid imports amounted to 0.077 million tons, a year-on-year decline of 20.6%, with an average import price of $61.2 per ton, which is a 47.4% increase year-on-year [1] Sulfuric Acid Exports - In July, China exported 0.428 million tons of sulfuric acid, which is a month-on-month increase of 10.0% [1] - The average export price for sulfuric acid rose to $67.8 per ton, showing a month-on-month increase of 10.1% [1] - Cumulatively, for the first seven months, sulfuric acid exports totaled 2.619 million tons, representing a remarkable year-on-year growth of 103.0%, with an average export price of $55.5 per ton, which is a 146.4% increase year-on-year [1]

Core Insights - Navigator Holdings Inc. indicates that Europe is rapidly becoming a major importer of U.S. ethylene as local production capacity declines [1] - In July, 75% of Europe's maritime ethylene demand was sourced from the U.S., marking a historical high [1] - The trend of increasing U.S. ethylene imports is expected to continue, particularly highlighted by Italy's cessation of local ethylene production [1] Group 1 - Oeyvind Lindeman notes that importing U.S. ethylene is a more favorable option for Europe to fill the domestic production gap [1] - Italy's ethylene production has ceased, leading to a significant increase in U.S. ethylene imports, especially since April [1] - Versalis in Italy shut down its Brindisi steam cracker in March and plans to close the Priolo cracker by the end of 2025 [1] Group 2 - U.S. ethane exports have rebounded following the lifting of export license restrictions by the U.S. government on July 2 [1] - China has emerged as the largest buyer of U.S. ethane, with exports to China nearly halting during the license restriction period from May to June, but reaching a new high in July [1] - The demand for flexible ethane transport vessels has surged, coinciding with the operational launch of a new ethane export terminal in Beaumont, Texas, by Enterprise [1]