Saudi Aramco June sulphur price up $6/tonne

12 May 2014 12:37 Source:ICIS News

LONDON (ICIS)--Saudi Aramco Trading has set its monthly sulphur price for shipments in June at $135/tonne FOB (free on board) Middle East, up by $6/tonne from May, market sources said on Monday.

Regarding the first price increase by a Middle East sulphur producer since March, an international trader said: “I think Aramco see better market conditions now China has started to buy again.”

Indeed, some mild price gains have been seen in major sulphur importing region China in May, marking the first price increases for spot sulphur since early February.

Aramco’s price increase, while not significant, is in reverse to that of Abu Dhabi National Oil Company (ADNOC) and Qatar’s Tasweeq, which both announced May decreases of $25/tonne and $20/tonne respectively.

Tasweeq announced its monthly Qatar Sulphur Price (QSP) at $133/tonne FOB on 30 May, while Abu ADNOC set its official selling price (OSP) for May on 6 May.

By Julia Meehan