NewsFlashIran sulphur rises $18/t to record high

28 May 2008 16:09  [Source: ICIS news]

LONDON (ICIS news)--Iranian sulphur prices have risen $18/tonne (€12/tonne) to hit a new record high of $805/tonne following a tender award amid a continued tight market, an official at supplier Iran Petrochemical Commercial Co (IPCC) said on Wednesday.

 

IPCC sold 28,000 tonnes of granular sulphur to an unnamed trader on a FOB (free on board) basis under its sales tender which closed on 26 May, the official confirmed.

 

The cargo will be lifted from Bandar Imam Khomeini (BIK) in the second week of June.

 

At present the destination is undeclared, however expectations are that it will be shipped to China.

 

The previous Iranian price high was $787/tonne FOB following a sales tender by Kharg Island Petrochemical Co last week.

 

 This price is $58/tonne higher than IPCC’s last sale earlier this month at $747/tonne FOB.

This new price high comes amid continued tight supply and strong demand in the global sulphur market.

 

IPCC reported interest from buyers in the tender had been strong, with some 19 bids received.

 

Iran exported 1.1m tonnes of sulphur in 2007.

 

($1 = €0.64)

 

To discuss issues facing the chemicals industry visit ICIS connect

By: Rebecca Clarke
+44 20 8652 3214

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