02 November 2010 19:17 [Source: ICIS news]
PRAGUE (ICIS)--Abu Dhabi National Oil Co (Adnoc) has posted a $5/tonne (€3.6/tonne) increase to its November sulphur price, an company official said on Tuesday at the Sulphur 2010 conference.
Adnoc’s monthly sulphur lifting price for November was set at $175/tonne FOB (free on board) Ruwais, reflecting a delivered price at close to $200/tonne CFR (cost and freight) India. Freight rates between India and the Middle East were estimated at $22-24/tonne.
The increase was relatively modest compared with market expectations of a $10/tonne hike. The producer said it wanted to maintain stability of current sulphur prices.
The October price of $170/tonne FOB was a $10/tonne increase from September.
Sources said that Indian prices continued to firm around the mid $190s/tonne on the back of strong sulphur demand for the sugar season. Reports emerged that concluded deals this week were in the range of $193-196/tonne CFR India.
The Sulphur 2010 conference in Prague, Czech Republic, runs from 1-4 November.
($1 = €0.72)
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