PotashCorp revises target for Q4 sulphur

01 October 2008 17:39  [Source: ICIS news]

LONDON (ICIS news)-- Sulphur buyer PotashCorp has revised its target decrease for fourth quarter liquid sulphur contracts in the face of a continued rapid decline in international sulphur prices, a company spokesman said on Wednesday.

“Given the rapid decline in international prices, we are aggressively pursuing a decrease of more than half of the increase incurred since the start of the year,” the spokesman said.

Liquid sulphur prices have risen by a total of $505/long ton (€359/long ton) since the start of the year.

First quarter prices rose $140/long ton, followed by a rise of $200/long ton in the second quarter and plus $165/long ton in the third quarter.

This means that PotashCorp is now looking for a price decrease in excess of $252.50/long ton from third quarter levels of around $615/long ton CFR (cost and freight) Tampa.

PotashCorp had initially been reported to be looking for a drop of $240/long ton based the decreases seen in Abu Dhabi National Oil Co’s (Adnoc) monthly price in August and September.

Contract negotiations are continuing with conclusions expected later this month.

($1 = €0.71)

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By: Rebecca Clarke
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