04 October 2007 14:20 [Source: ICIS news]
LONDON (ICIS news)--Iranian sulphur prices have hit a new record high after a spot sale at $223/tonne (€158/tonne), an $8/tonne rise on the previous record, an official at Iran Petrochemical Commercial Co (IPCC) said on Thursday.
The higher price came amid continued tight supply and strong demand from ?xml:namespace>
IPCC sold 20,000 tonnes of granular sulphur to an undisclosed trader at $223/tonne FOB (free on board), for the open market for shipment from Bandar Imam Khomeini during the second half of October.
This business followed a sale a couple of weeks ago by Kharg Island Petrochemical Co at $215/tonne FOB for early October lifting from
Iranian sulphur prices have risen from the mid-$50s/tonne FOB since the start of 2007, according to global chemical market intelligence service ICIS pricing.
($1 = €0.71)
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