India’s FACT, Rashtriya Chemicals issue sulphur tenders

03 September 2010 15:34  [Source: ICIS news]

LONDON (ICIS)--Fertilizers and Chemicals Travancore Ltd (FACT) and Rashtriya Chemicals and Fertilizers have issued sulphur tenders after Abu Dhabi National Oil Co (Adnoc) set its new monthly sulphur lifting price, market sources said on Friday.

FACT issued a tender for two 20,000-tonne sulphur cargoes for delivery to Cochin, which closes on 8 September.

FACT requested the first shipment to arrive on 28 September-2 October and the second to arrive on 25-30 October. Offers were requested to remain valid until 14 September, according to sources.

FACT last bought 20,000-25,000 tonnes of sulphur from trader Swiss Singapore for September delivery at $173/tonne (€135/tonne) CFR (cost and freight) Cochin, currently the highest level concluded in India.

Rashtriya issued a tender for 3,000 tonnes of sulphur for prompt shipment to Mumbai. Further details of the tender were not disclosed.

This came after the news that the 9,000-tonne cargo Transfert was due to deliver in August under Rashtriya’s 4 August tender was delayed.

Adnoc on Friday posted its September sulphur lifting price at $160/tonne FOB (free on board) Ruwais, reflecting a delivered price in the low $180s/tonne CFR India.

Bids for the Indian fertilizer producers’ tenders are expected to be at, or above, the implied price level.

Additionally, the October sugar season in India is likely to see a surge in sulphur demand.

($1 = €0.78)

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By: Freda Gordon
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