18 February 2011 13:36 [Source: ICIS news]
Chinese prices moved up to $210-215/tonne (€155-159/tonne) CFR (cost and freight) on limited activity this week, sources said. The range was up around $7-12/tonne from the levels recorded before the holidays.
Late last week, around 10,000-15,000 tonnes of Canadian sulphur were sold at
The upward trend in
Supply has also been tight in major producer markets, including the Middle East and
Additionally, the downstream phosphate fertilizer market was expected to remain firm through the first half of 2011, supported by tight supply, healthy demand and firm commodity prices.
These factors had led to expectations of more aggressive buying following the end of the holidays. However, fertilizer producers were buying cautiously because inventory levels at domestic ports were holding firm at a safety level of 1.92m tonnes.
Price expectations for the remainder of the first quarter were split. Some remained optimistic and expected more buyers to return to the market next week.
Others feared that domestic prices would soon peak, because the current range had already surpassed the highest level achieved in 2010.
Another worry to add to the Chinese market was that around 70-80% of the stocks at major domestic port
The Lunar New Year fell on 2-8 February this year, and all celebrations officially ended on 17 February.
($1 = €0.74)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|