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 ?xml:namespace>
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
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