International Sulfur Price Further up

By CnAgri2013-12-10 11:23:27 Print

Traders pushed sulfur spot price up to USD140/MT CFR in China market this week and manufacturers in mid-east raised sulfur quotation. According to suppliers, large amounts of orders have been received from Jordan, North Africa, Brazil, Egypt, India, South Africa, Indonesia, Senegal and China. Demand for sulfur from metal industry is also strong. Plus supply is tight in Mid-East, former Soviet Union and Canada. Therefore, sulfur price is pushed to rise.

Bidding price of sulfur auctioned by Saudi Aramco company was as high as USD120/MT FOB, to be delivered in late December and that auctioned by India Reliance company on Nov. 28th was as high as USD123/MT FOB, bid by a Chinese trader, to be delivered in December. The price in above two contracts converted to China CIF was USD140/MT. Previously, the turnover price of 350,000 MT Iran large particle sulfur was up to USD112/MT FOB and it was sold to China. The price was equivalent to USD130/MT China CFR. Qatar Tasweeqw announced to raise sulfur price to USD103/MT FOB in December, up USD30/MT from December. With influences of production problems and bad weather condition, shipment schedule in Mid-East was postponed. UAE ADNOC company also raised sulfur price to USD35/MT FOB in December, up USD35/MT from December.

Terminal users cannot accept current high price, but traders warn that sulfur price shall not drop in short terms and shall keep high even in the first quarter of 2014, with which phosphorus fertilizer manufacturers cannot agree. Later large scale stoppage for maintenance may be noted.

From “China Fertilizer Market Weekly Report”