Update1st US Q4 liquid sulphur down $300/lt

03 October 2008 16:10  [Source: ICIS news]

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LONDON (ICIS news)--US Gulf sulphur buyer PotashCorp has settled an initial fourth-quarter liquid sulphur contract at a decrease of $300/long ton amid falling international sulphur prices, a company spokesman said on Friday.

 

“PotashCorp has begun settling contracts down $300/long ton for quarter four. We’ve settled with one major supplier so far,” the spokesman said.

 

This decrease takes prices to around $315/long ton CFR (cost and freight) Tampa.

 

PotashCorp said earlier in the week that it had revised its target decrease  for fourth-quarter contracts in the face of the continued rapid decline in international sulphur prices.

 

It said that it was aggressively pursuing a decrease of more than half of the increase incurred since the start of the year. Sulphur prices had risen by $505/long ton since the start of the year, meaning that PotashCorp was looking for a decrease in excess of $252.50/long ton.

 

Third-quarter sulphur prices were agreed at an increase of $165/long ton at around $615/long ton CFR Tampa.

By: Rebecca Clarke
+44 20 8652 3214

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