PotashCorp suspends Q4 sulphur talks on price drop

15 October 2008 16:36  [Source: ICIS news]

LONDON (ICIS news)--US sulphur buyer PotashCorp has suspended its fourth- quarter contract discussions following recent substantial decreases in world sulphur prices, a company spokesman said on Wednesday.

 

“We have suspended fourth-quarter sulphur price negotiations for our remaining contracts pending a re-evaluation of market dynamics given the substantial new price declines seen this week in the world market,” the spokesman said.

 

PotashCorp had settled an initial contract earlier this month with one major supplier at a decrease of $300/long ton from third-quarter prices. 

 

It was unclear at present whether this contract would still stand or would be renegotiated.

 

PotashCorp’s decision to suspend talks came in the wake of Abu Dhabi National Oil Co (Adnoc) announcing its October sulphur prices at $200/tonne FOB (free on board), a decrease of $380/tonne from September.

 

Additionally, business was concluded in India last week for December shipment at $115/tonne CFR, down $295/tonne from a previous deal.

 

Third-quarter US sulphur prices were agreed at an increase of $165/long ton at around $615/long ton CFR (cost and freight) Tampa.

 

To discuss issues facing the chemicals industry visit ICIS connect

 

By: Rebecca Clarke
+44 20 8652 3214

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