07 February 2012 10:33 [Source: ICIS news]
LONDON (ICIS)--Indian producer Paradeep Phosphates Limited’s (PPL) sulphur purchase tender price of 27 January has been renegotiated to $189–190/tonne (€143–144/tonne), a source with trader Swiss Singapore said on Tuesday.
The United Arab Emirates (UAE)-based trader was originally awarded the tender by the fertilizer producer at close to $182/tonne CFR (cost & freight) for 35,000 tonnes of granular sulphur, but renegotiated the price at a $7–8/tonne increase. The reason was not disclosed.
“We had some discussions, and decided the final price yesterday,” the source added.
This means that Indian sulphur prices have moved up slightly by 1% from the last confirmed spot business at $186/tonne CFR in January, injecting some confidence into the sulphur market after weeks of falling prices caused by weak downstream demand.
However, the award remains below the implied delivered level, in the low-$200s/tonne CFR, of the Abu Dhabi National Oil Co’s (Adnoc) February official selling price for sulphur.
($1 = €0.76)For more on sulphur and other fertilizers visit ICIS pricing fertilizers
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