Iran sulphur falls $45/tonne after spot sale

04 August 2008 12:47  [Source: ICIS news]

LONDON (ICIS news)--Iranian sulphur prices have dropped $45/tonne following a spot sale which came amid weaker demand in key markets India and China, market sources said on Monday.

 

An official at Iran Petrochemical Commercial Co (IPCC) said that it had made an award under its 24 July sales tender to a trader at $760/tonne FOB (free on board).

 

The 25,000 tonne cargo would be shipped from Bandar Imam Khomeini (BIK) during the first half of August but as yet the destination was unknown, added the source.

 

IPCC’s previous two spot sales had been made at $805/tonne FOB. 

 

The tender came at a time when demand from key markets China and India has weakened, partly due to the high prices on offer, but also due to a drop in downstream phosphate fertilizer production.

 

IPCC expects to have its next granular sulphur cargo available for late August shipment from BIK.

 

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By: Rebecca Clarke
+44 20 8652 3214

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