27 September 2011 17:20 [Source: ICIS news]
LONDON (ICIS)--United Arab Emirates (UAE) sulphur producer Abu Dhabi National Oil Co (Adnoc) expects to make a slight increase to its October official selling price for sulphur, a company source said on Tuesday.
A new monthly sulphur selling price, which is applicable to the Indian market, is expected to be announced at the beginning of October.
“The new price will reflect the Indian market, where demand is going good. So I think a slight increase can be expected,” the source added.
The September selling price for sulphur is set at $220/tonne (€163/tonne) FOB (free on board) Ruwais, a $5/tonne increase from August.
However, the reflected cost & freight (CFR) price for September has yet to be established in India since the price was implemented at the beginning of the month.
The latest spot business concluded by major Indian buyers, including Coromandel International and Indian Farmers Fertiliser Cooperative, was in the high-$230s/tonne CFR.
Fertilisers and Chemicals Travancore Limited will close a purchase tender on 28 September, for 25,000 tonnes of sulphur for 31 September-4 October arrival at Cochin. The results of the tender are expected to give a clearer picture of the Indian sulphur market.
($1 = €0.74)
For more on sulphur visit ICIS pricing fertilizers
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