Iran sulphur price moves up $8 to record $223/t

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 China and India.

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 Kharg Island.

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)

By: Rebecca Clarke
+44 20 8652 3214

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