India MMTC issues sulphur tender amid high prices

11 February 2008 14:29  [Source: ICIS news]

LONDON (ICIS news)--Indian state trading house MMTC Limited has issued a tender for three lots of granular sulphur amid continued high prices, market sources said on Monday.

  

Offer prices are likely to be in the mid-$600s/tonne CFR (cost and freight) given that Middle East sulphur prices are now at $600/tonne FOB (free on board) and above, according to global chemical intelligence service ICIS pricing.

 

Last business done in India was reported in the $590s/tonne CFR.

 

MMTC requires one lot of 19,000 tonnes to be delivered to Vizag during February, one lot of 20-25,000 tonnes to be delivered to Cochin in the first half of March and 20,000 tonnes also to Cochin 17-13 April.

 

Market sources said the lot for Vizag was on behalf of buyer Steel Authority of India Ltd (SAIL) for its plant in Bokaro, while the cargoes to Cochin would be for fertilizer manufacturer Fertilizers and Chemicals Travancore Limited (FACT).

 

The tender closes on 14 February and offers are to remain valid until 22 February.

 

Sulphur prices are strong at the moment on the back of strong demand from major market China and expectations of reduced availability from major producers in Canada, the Middle East and the former Soviet Union this year. 

By: Rebecca Clarke
+44 20 8652 3214

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