Iran sulphur prices down $10-15/tonne on Kharg tender bids

08 July 2009 12:18  [Source: ICIS news]

LONDON (ICIS news)--Iranian sulphur price ideas have dropped $10-15/tonne (€7-11/tonne) from the last reported business following bids submitted under a sales tender by Kharg Island Petrochemical Co (KHIPC), market sources said on Wednesday.

KHIPC closed a sales tender on 6 July for 20,000 tonnes of granular sulphur for 15-20 July shipment from Kharg Island.

A KHIPC official said that all companies invited to take part in the tender submitted bids, and prices were in the range of $30-35/tonne FOB (free on board).

The bids were lower than the last done business by Iran Petrochemical Commercial Co (IPCC), which was at $45/tonne FOB.

KHIPC had been hoping for a price around $35/tonne FOB, in line with Abu Dhabi National Oil Co’s (Adnoc) July sulphur price and recent quarterly business out of the Middle East, the company source added.

An award has yet to be made under the tender, as offices in Tehran are currently closed due to air pollution, the KHIPC official said, adding that a decision was likely to be made on 11 July.

According to media reports, many offices, businesses and schools in Iran have been closed because of high pollution caused by desert storms, with air pollution levels in Tehran reported to be the worst for 30 years.

($1 = €0.72)

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