29 January 2013 10:43 [Source: ICIS news]
LONDON (ICIS)--First-quarter US Tampa sulphur contracts are settling down by 6% to $150/long ton (€111/long ton), US-based Mosaic said late on Monday.
The contract is agreed on a cost and freight (CFR) basis.
The phosphate fertilizer producer is the first buyer to settle sulphur contracts in Tampa for the first quarter.
Other outstanding first-quarter contracts are expected to follow the $10/long ton price drop.
The decrease had been expected, prompted by declining global sulphur prices caused by weaker downstream demand for phosphates.
US Tampa prices have declined by $10/long ton for three consecutive quarters since the third quarter of 2012.
($1 = €0.74)
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