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 ?xml:namespace>
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
KPC expects to maintain export availability at 900,000 tonnes in 2009.
($1 = €0.76)
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