28 October 2013 00:00 [Source: ICB]
Prices for sulphuric acid spot tonnes decreased $5/tonne CFR (cost and freight) in the US Gulf. Prices are at $35-45/tonne (€26-34/tonne) CFR in the Gulf, with little action in the market. The current level is down from $45-55/tonne in September and from $90-110/tonne in October last year.
While a drop was anticipated with fourth quarter sulphur contracts settling at $75/tonne, sources had also reported several recent turnarounds in the market at Rhodia, DuPont, Chemtrade and Grupo, which some producers believed would tighten the market.
Participants have reported no problems finding product and buyers maintain their tanks are full. Two of the four Rhodia plants that were offline have completed their maintenance.
Rio Tinto reported on 15 October that production at Kennecott Utah Copper was recovering ahead of expectations. Some participants had said that uncertainty with the recovery efforts from the April landslide at Kennecott might tighten the market.
Given the comfortable supply position, import cargoes have to be priced very competitively to attract buyers in the Gulf.
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