NEW YORK, May 10. /TASS/. The Middle East conflict developments had a negative impact on global sulfuric acid supplies and contributed to its higher prices, The Wall Street Journal reported.
According to the US-based daily, "Sulfuric acid is used to produce phosphate fertilizers, leach copper and other metals from rock, pulp wood, pickle steel, tan leather and vulcanize rubber."
"A large chunk of the world’s sulfur comes from Persian Gulf oil refineries and gas plants and has been choked off at the Strait [of Hormuz]," the daily continued.
Another factor contributing to the aggravation of the problem, according to the daily, was China's decision to impose restrictions on the export of sulfuric acid.
WSJ cited Director at Acuity Commodities Freda Gordon, who is an expert in sulfur markets, as saying that the threat to fertilizer markets and food supply has prompted China, which is the world’s biggest sulfur producer, "to restrict exports this month, boosting prices and further straining availability."
