미국과 이스라엘 대 이란의 전쟁 여파로 중국이 5월부터 황산 수출을 중단할 것으로 알려지면서 글로벌 비료 시장, 농업, 금속 산업 전반에 걸쳐 파급 효과가 예상된다. 블룸버그 통신 보도에 따르면, 중국 내 황산 생산업체들이 당국의 수출 중단 통보를 받았으며, 이는 주요 조달 에이전트에게도 전달되었다. 황산은 인산염 비료의 원료이며, 구리 생산, 정유, 배터리 가공 등 광범위하게 사용된다. 중동 지역의 황산 공급이 중단되면서, 글로벌 황산 가격이 급등할 것으로 보인다.
A tractor is planting in Taizhou, Jiangsu Province, China. Photographed on June 12, 2024/AFP Yonhap News
In the aftermath of the war pitting the United States and Israel against Iran, China is reportedly set to halt sulfuric acid exports starting in May. Significant ripple effects are expected across the global fertilizer market, agriculture, and the metals industry at large.
According to Bloomberg News on the 13th, some sulfuric acid producers in China recently received notice from the authorities to suspend, next month, exports of sulfuric acid produced domestically. A major procurement agent also received this information through suppliers.
Sulfuric acid is a feedstock for phosphate fertilizers and is widely used in copper production·oil refining·battery processing. Sulfuric acid produced during oil·gas refining processes in the Middle East accounts for one third of global supply. China produces sulfuric acid using sulfur dioxide generated during copper and zinc smelting.
Following the closure of the Strait of Hormuz, the supply of sulfuric acid from the Middle East was cut off, and global sulfuric acid prices surged. Bloomberg reported, “This step, taken by China to conserve sulfuric acid supply during the peak crop planting season, will place further pressure on the global sulfuric acid market,” adding that it would hit the mining sectors of major copper producers such as Chile, the Democratic Republic of the Congo, and Zambia.
According to Bloomberg, Chile, the largest copper producer in the world, imports more than 1 million tons of Chinese sulfuric acid annually, and about 20% of its total copper output depends on processes that use sulfuric acid. Bloomberg also reported that the Chinese Ministry of Commerce did not respond to inquiries about export controls, and that Acuity, a research firm specializing in energy and commodities markets, observed that China could take measures to limit sulfuric acid exports throughout this year.
It was also reported that the South Korean government had not been notified of the matter. However, because China has not placed sulfuric acid on its official export control list, there is also a view that this measure may be temporary.
A diplomatic source said, “If China were to fully implement export controls, it would first place the item on the official export control list,” adding, “Because it has not been put on the export control list, there is no obligation to notify foreign countries. In a situation of global supply and demand instability, it appears China prioritized domestic demand and informally limited exports for a while.”
This source said, “Regarding key items such as naphtha, crude oil, and liquefied natural gas , we are closely watching whether China imposes export controls or any supply and demand issues,” adding, “If necessary, we are prepared to cooperate with the Chinese side.”
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