Price offers under India PPL sulphur tender above expectations

30 January 2012 12:07  [Source: ICIS news]

LONDON (ICIS)--India-based Paradeep Phosphates Ltd (PPL) has received higher-than-expected price offers under its 27 January sulphur purchase tender, trader sources said on Monday.

PPL has opened price offers and is understood to have received six to seven offers in the range of $180/tonne (€137/tonne) and $200/tonne CFR (cost and freight), an India-based trader said.

According to the source, no awards have been made yet and the sulphur buyer had requested all offers to remain valid until 31 January.

PPL requested for 35,000 tonnes of granular sulphur to arrive at Paradeep port in the east coast of India between 1-4 March under the 27 January tender.

The last Indian purchase by IFFCO (Indian Farmers Fertiliser Cooperative) was concluded at $186/tonne CFR. Coupled with slow demand in major import market China over the past two weeks because of the Lunar New Year holidays, there were expectations of low price offers to be submitted under the new PPL tender.

“I heard PPL was looking at $150/tonne CFR,” a European trader said.

This is the first Indian sulphur purchase tender in 2012 and the winning offer is expected to bring clarity to spot sulphur prices.

The Lunar New Year holidays were between 22-28 January this year.

($1 = €0.76)

For more on sulphur visit ICIS pricing fertilizers

By: Freda Gordon
44 208 652 3214

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