LONDON (ICIS)--Abu Dhabi National Oil Company (ADNOC) has set its official selling price (OSP) for August sulphur shipments to the Indian market at $175/tonne FOB (free on board), an increase of $5/tonne from July, a company source confirmed on Monday. ?xml:namespace>
An increase had been widely expected in the market following Qatari producer Tasweeq raising its August price by $3/tonne to $169/tonne FOB on 31 July.
However, market sources said that end user markets were not accepting prices reflecting $170/tonne FOB and were unlikely to now accept $175/tonne FOB for August, meaning traders would be squeezed.
Sentiment in end user markets ?xml:namespace>