24 June 2011 15:41 [Source: ICIS news]
LONDON (ICIS)--Latest Indian sulphur business has dropped by nearly 5% from the last purchase tender award, prevailed by weak demand in other major import markets, trader sources said on Friday.
This week an $11/tonne (€8/tonne) drop has been seen in India, where a sale has been reported at $232/tonne CFR (cost and freight), down from last tender business by Paradeep Phosphates Ltd (PPL) under its 7 June purchase tender award.
The new business is understood to be agreed between sulphur buyer Indian Farmers Fertilizer Cooperative (IFFCO) and trader Mitsubishi, trader sources said.
A 30,000-tonne sulphur cargo will be supplied from ?xml:namespace>
Another Indian fertilizer manufacturer Fertilizers and Chemicals Travancore Ltd (FACT) closed a purchase tender on 21 June, for 25,000 tonnes of product for July delivery.
Trader Swiss Singapore submitted the lowest offer at $231.50/tonne CFR Cochin, but no further information is immediately available.
The fall in Indian prices is likely due to continuously weak demand in major import markets
“Traders who have not been able to place their cargoes in
Chinese diammonium phosphate (DAP) producers have sulphur inventories that will last until the end of July, and hence are comfortable and not in a hurry to purchase.
Major buyers in
Export business out of
The 26 May tender was awarded at below $225/tonne FOB (free on board).
($1 = €0.70)
For more on sulphur visit ICIS pricing fertilizers
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