13 August 2010 12:48 [Source: ICIS news]
LONDON (ICIS)--Kuwait Petroleum Corp has awarded a sulphur sales tender at a price nearly $20/tonne (€15.60/tonne) above the last completed business out of the ?xml:namespace>
Kuwait Petroleum awarded its 12 August tender at $125-130/tonne FOB (free on board) to one of its current customers, a company official said.
The producer tendered for 25,000 tonnes of granular sulphur for 17-19 September loading in Shuaiba. The official said the cargo was likely to be shipped to southeast Asia.
The tender award has pushed prices up nearly $20/tonne from last week’s tender by Iran-based Petrochemical Commercial Co, which was at $107/tonne FOB.
Strong demand in the diammonium phosphate (DAP) market, mainly due to the large amount of material committed for export to
In addition, anticipation of strong sulphur demand during the autumn fertilizer application season in
A trader said: “Demand in
Tight sulphur supply in the Middle East region, anticipated logistical problems over the winter season in
“Everyone’s very bullish at the moment. I think this price rise will last for a month or two. When prices are too high, Chinese buyers will hide again and prices will crash,” added the trader.
($1 = €0.78)
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