08 April 2014 19:12 [Source: ICIS news]
LONG BEACH, California (ICIS)--European second-quarter sulphur contracts have increased by $30/tonne based on tight supply and international price developments, sources confirmed on Tuesday.
The Q2 contract price settled at $159-170/tonne delivered Benelux.
“We can confirm that we have succeeded and that the market has fully accepted an increase of $30/tonne," a major sulphur producer said, speaking on the sidelines of The Sulphur Institute’s (TSI) Sulphur World Symposium in Long Beach.:
“We started at $35/tonne, but we have accepted plus $30/tonne. We are very short and we don’t have a lot to export so we prefer to keep it inland,” the producer added.
Prior to the TSI meeting, major European buyers confirmed that they had seen their Q2 contracts increase by $30/tonne on Q1 levels.
One major buyer for the caprolactam (capro) market said: “The trend is plus $30/tonne - one or two weeks ago it was $35/tonne and we are still in the spot market looking for some quantities.”
A second large buyer said that it too had agreed its contract up $30/tonne.
“I confirm an increase of $30/tonne,” the buyer said.
The TSI Sulphur Symposium runs throuigh Wednesday..
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