The military conflict in the Gulf and the effective blockage of the Strait of Hormuz initially triggered a squeeze on sulphuric acid, with prices on the rise after shipments in the region – which accounts for a quarter of global production – were largely stalled since military strikes began on February 28.
But the second shock wave came after reports surfaced of an export ban on sulphuric acid from China that would take effect in May. The country accounted for 45 per cent of the nearly 10 million tonnes of the chemical shipped from Asia last year and about 23 per cent of global exports.
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