29 April 2010 10:51 [Source: ICIS news]
LONDON (ICIS news)--Major US phosphate producers Mosaic and PotashCorp are concluding second-quarter liquid sulphur contracts at an increase of $55/long ton (€42/long ton) against a backdrop of tight availability and strong demand, the companies said late on Wednesday.
Mosaic concluded its second-quarter contracts at $145/long ton CFR (cost and freight) ?xml:namespace>
An official from PotashCorp also confirmed that it had started finalising contracts for the second quarter at an increase of $55/long ton from the $90/long ton CFR concluded in the first quarter.
Continued low refinery rates have led to tight, although improving, liquid sulphur availability in the past months. As a result, Mosaic had procured some incremental solid sulphur supplies from the Middle East to supplement its typical liquid supplies in
Demand in the US Gulf is expected to remain strong as the domestic fertilizer season is well under way.
The agreed price was below the refiners’ initial price ideas of $100/tonne increases.
The rise was limited by international sulphur prices softening in the past month on the back of lower demand from the Chinese and Indian markets.
First-quarter contracts increased by $20/long ton from the October-December 2009 levels.
($1 = €0.76)
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