NewsFlash1st Q3 US liquid sulphur up $165/long t

22 July 2008 09:32  [Source: ICIS news]

LONDON (ICIS news)--Initial third-quarter liquid sulphur contracts in the US have been settled at an increase of $165/long ton over second-quarter prices on the back of strong demand and higher international prices, market sources said on Tuesday.

 

Phosphate producer and sulphur buyer Mosaic said that it had begun settling its third-quarter contracts at the $165/long ton increase.

 

This increase takes prices to around $615/long ton CFR (cost and freight) Tampa.

 

Second-quarter prices were agreed at an increase of $200/long ton at around $450/long ton CFR.

 

The rise was widely expected given that demand is currently strong with phosphate producers looking to maximise production at a time when US and global supply is tight.

 

Additionally, US sulphur prices are substantially below global levels and some sources said they needed to catch up further.

 

One major supplier had been targeting an increase of slightly above $200/long ton, while one buyer was heard to be seeking an increase of $100/long ton prior to these initial settlements. 

By: Rebecca Clarke
+44 20 8652 3214

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