02 January 2013 12:15 [Source: ICIS news]
LONDON (ICIS)--The United Arab Emirates’ Abu Dhabi National Oil Company (Adnoc) has lowered its January 2013 official sulphur selling price by $15/tonne from the previous month, a company source said on Wednesday.
The January sulphur price was set at $150/tonne (€114/tonne) FOB (free on board) Ruwais, applicable to the Indian market only through traders, the source added.
The new price reflects a delivered price in the low-$170s/tonne CFR (cost and freight) India, which is close to the last concluded business under the FACT 20 December 2012 purchase tender award.
The price is above the new monthly posted prices from Qatar International Petroleum Marketing (Tasweeq), at $142/tonne FOB, and Saudi Arabia’s Aramco Trading, which set its prices in the low/mid-$140s/tonne FOB.
Sulphur prices have been trending downwards due to weaker downstream phosphate fertilizer demand.
($1 = €0.76)
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