KPC issues sulphur sales tender amid rising spot prices

11 August 2010 17:20  [Source: ICIS news]

LONDON (ICIS)--Kuwait Petroleum Corp (KPC) has issued a sales tender for 25,000 tonnes of granular sulphur amid rising spot prices, a company official said on Wednesday.

KPC tendered for 25,000 tonnes of granular sulphur for 17-19 September loading in Shuaiba. The tender will close on 12 August.

The KPC official said that bids were expected to be above $110/tonne (€83.60/tonne) FOB (free on board), against the backdrop of rising sulphur spot prices in recent weeks due to increased demand in China and India.

Abu Dhabi National Oil Co (Adnoc) raised its August sulphur price this week to $110/tonne FOB (free on board) from July’s level of $65/tonne FOB, reflecting a delivered price at around $135/tonne CFR (cost and freight) in India, a key market for sulphur.

Additionally, Indian fertilizer producer Rashtriya Chemicals and Fertilizers (RCF) has this week received price offers between $135-147.50/tonne CFR under its 4 August sulphur tender. 

The KPC official added that the 25,000 tonnes offered came from extra sulphur stocks, due to reduced contract tonnages agreed with customers for the third quarter.

($1 = €0.76)

For more on sulphur visit ICIS pricing fertilizers

By: Freda Gordon
44 208 652 3214

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