12 May 2010 18:03 [Source: ICIS news]
LONDON (ICIS news)--Kuwait Petroleum Corporation (KPC) has awarded its 12 May sulphur sales tender at a price “similar to the current market level” amid a weak spot market, a company official said on Wednesday.
The company official said the cargo, for 4-6 June shipment from Shuaiba, will be shipped to the east. Freight rates to ?xml:namespace>
The spot cargo had come from KPC’s uncommitted sulphur availability for the second quarter. The producer concluded two-thirds of its contracts in the range of $150-160/tonne FOB.
KPC received six bids for this sales tender, of which the official commented: “Although the market remains quiet, we expected better and more offers.”
A weaker spot market has been evident in
Traders commented that Chinese spot buyers were rejecting offers above $150-155/tonne CFR (cost and freight).
($1 = €0.79)
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