14 March 2008 15:41 [Source: ICIS news]
LONDON (ICIS news)--Second-quarter sulphur contract prices in China are set to jump on the back of higher spot values in a globally tight market, market sources said on Friday.?xml:namespace>
Although contract discussions are yet to begin in earnest, Middle East producers have indicated that they are looking for significant price increases of $150-200/tonne (€96-128/tonne) on first-quarter levels.
Such an increase would take prices to around $600-650/tonne FOB (free on board) ?xml:namespace>
Freight from the Middle East to
A hike of this magnitude would bring prices into line with current spot values, sources said. Abu Dhabi National Oil Company (Adnoc) set its March sulphur price at $640/tonne FOB, while a recent spot sale out of
Spot prices have jumped so far this year on the back of strong demand from the fertilizer sector and reduced output from the Middle East and other major supply regions
($1 = €0.64)
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