A little-watched industrial chemical is suddenly at the center of global commodity market turmoil.



Economist Steve Hanke noted China's sulfuric acid export prices have surged to nearly 12 times their May 2024 levels amid disruptions tied to the U.S.-Israeli war on Iran, citing Argus data shared in a post on X.



&#34;We’re entering a commodity supercycle. You want to be long commodities,&#34; Hanke wrote on Thursday.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div>
<blockquote>Thanks to the US-Israeli war on Iran, China's sulfuric acid export prices are now almost 12 times their May 2024 level. As I've said, &#34;We're entering a commodity supercycle. You want to be long commodities.&#34; pic.twitter.com/JwaiIlI2uB— Steve Hanke (@steve_hanke) May 14, 2026</blockquote>
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<h2>Middle East Disruptions Hit Global Supply Chains</h2>



The rally comes as sulfur and sulfuric acid markets tighten sharply following disruptions in the Middle East and new Chinese export restrictions. 



Last week, S&amp;P Global reported that sulfuric acid CFR U.S. Gulf prices climbed to $400 per metric ton on May 6, up from $155 per ton before the conflict escalated in late February.



The Middle East typically accounts for nearly half of global seaborne sulfur exports, according to S&amp;P Global.



China, meanwhile, has tightened sulfuric acid exports to protect domestic fertilizer supply, further squeezing global availability. 



Analysts told S&amp;P Global that the restrictions could disrupt copper and nickel production in countries heavily reliant on Chinese acid exports, including Chile and Indonesia.



<h2>Why Markets Are Paying Attention</h2>



Sulfuric acid is widely used in fertilizer production, copper processing and battery metals extraction, making it an important barometer for industrial activity.



Reuters recently reported that the shortage is spreading across global commodity markets, raising costs for miners and fertilizer producers alike.



The latest surge has revived Wall Street discussion around a broader commodity supercycle driven by supply shocks, geopolitical tensions and structural shortages across raw materials markets.



Image via Shutterstock

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Economist Steve Hanke highlights a surge in China's sulfuric acid export prices, now nearly 12 times their May 2024 levels, amid disruptions from the U.S.-Israeli war on Iran. This has sparked discussions of a new commodity supercycle, as sulfuric acid's importance in fertilizer and metal production tightens global supply chains. Analysts warn that China's export restrictions could impact copper and nickel production in reliant countries, raising costs for miners and fertilizer producers.

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Sprott Junior Copper Miners ETF

ISHRS MSCI Glb Slct Met & Mining

Global X Copper Miners

United States Copper Index

Sprott Nickel Miners ETF

Invesco DB TR Base Metals ETF

SPDR S&P Mtls & Mng

Sprott Copper Miners ETF

Top Economist Says A Little-Watched Chemical Could Be Signaling The Start Of A New 'Commodity Supercycle'