Kuwait’s KPC agrees Q1 sulphur at $40-45/tonne

14 January 2009 15:54  [Source: ICIS news]

LONDON (ICIS news)--Middle East producer Kuwait Petroleum Corp (KPC) has settled the majority of its first quarter sulphur contracts at $40-45/tonne (€30-34/tonne), a company official said on Wednesday.

The prices, agreed on a free on board (FOB) Shuaiba basis, show a marked reduction from fourth quarter business from the Middle East ranging from $100-200/tonne FOB.

The drop in prices has come on the back of weaker global demand for sulphur both from the fertilizer and industrial sectors.

The company official said that some 80% of its first quarter availability had been committed with contracts to India, China and southeast Asia.

KPC expects to maintain export availability at 900,000 tonnes in 2009.

Other Middle East suppliers were also reported to have agreed first quarter business in the $40-45/tonne FOB range.

($1 = €0.76)

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By: Rebecca Clarke
+44 20 8652 3214

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