Iran sulphur prices up at least 9% to above $205/tonne

14 March 2011 12:59  [Source: ICIS news]

LONDON (ICIS)--Iran sulphur prices have increased by over 9% to above $205/tonne (€147.60/tonne) on last business by Kharg Island Petrochemical Co (KHIPC), a company source said on Monday.

The sulphur producer sold 20,000 tonnes of granular product to an undisclosed trader on a free on board (FOB) basis on 10 March following private negotiations, the source said.

The price was up at least $17.50/tonne from previous granular business in Iran at $187.50/tonne FOB Assaluyeh, under Iran Gas Commercial Co’s (IGCC) 21 February tender.

The producer expected to load the cargo at the end of March/early April, likely for India.

KHIPC previously offered the same cargo on the Iran Mercantile Exchange (IME), but had scrapped the 8 March tender.

“The price proposals we received via the IME were not acceptable, hence we sold the cargo through direct negotiations,” the source added.

The producer’s price idea was understood to be in line with Abu Dhabi National Oil Co’s (Adnoc) March sulphur lifting price, set at $210/tonne FOB Ruwais. However, the difference in price ideas between the buy and sell side was huge.

“Most traders did not want to pay $190/tonne FOB or above,” according to a market source.

($1 = €0.72)

For more on sulphur visit ICIS pricing fertilizers
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By: Freda Gordon
44 208 652 3214

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