KPC, Adnoc settle Q2 China sulphur around $670/t

15 April 2008 15:31  [Source: ICIS news]

LONDON (ICIS news)--Two more Middle East sulphur suppliers have settled second-quarter contracts with Chinese buyers at significant increases, sources at the companies confirmed on Tuesday.

State-owned Kuwait Petroleum Corp (KPC) completed its second-quarter sulphur contracts with China. The price was reported to be around $670/tonne (€422/tonne) FOB (free on board).

United Arab Emirates producer Abu Dhabi National Oil Co (Adnoc) also agreed the remainder of its second-quarter contracts at similar prices.

First-quarter contracts were settled at $510/tonne CFR, but international tightness has seen prices firm further during the second quarter.

China imported 9.7m tonnes of sulphur in 2007.

($1 = €0.63)

By: Mike Nash
+44 20 8652 3214

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