Iran producer seeks regional sulphur record high

07 November 2007 11:44  [Source: ICIS news]

LONDON (ICIS news)--Iran Petrochemical Commercial Co (IPCC) is seeking a new record sulphur price for the Middle East region in its latest sales tender due to tight global supply and strong demand, a company official said on Wednesday.

 

IPCC has issued a sales tender, closing on 12 November, for 25,000 tonnes of granular sulphur for second week December shipment from Bandar Imam Khomeini (BIK).

 

Following last week’s announcement from Abu Dhabi National Oil Co (Adnoc) of its November sulphur price at $240/tonne (€165.60/tonne) FOB (free on board) Ruwais, IPCC is hopeful that its tender will attract record high bids from traders.

 

IPCC’s last sale was at the start of October at $223/tonne FOB BIK.

 

Traders said that they expected bids in the IPCC tender to be around $270-280/tonne FOB.

 

Sulphur demand in China is booming, with consumers increasingly concerned with security of supply, in addition there is very little spare sulphur availability globally, meaning that spot prices are able to surge higher.

 

($1 = €0.69)

 

By: Rebecca Clarke
+44 20 8652 3214

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