Saudi Aramco December sulphur price down $3/tonne
Julia Meehan
11-Nov-2014
LONDON
(ICIS)–Saudi Aramco Trading has set its
monthly sulphur price for shipments in December at
$125/tonne FOB (free on board) Jubail, down by $3/tonne
from November, market sources
confirmed Tuesday.
“This price is in line with what we expected and it should
settle the market now,” said a sulphur trader.
The December announcement by Saudi Aramco follows that of
Qatar International Petroleum Marketing Company Ltd (Tasweeq)
which announced its Qatar Sulphur Price (QSP) for
November at $119/tonne FOB Ras Laffen, a
decrease of $23/tonne from October.
Abu Dhabi National Oil Company (ADNOC) set its official
selling price (OSP) for November sulphur shipments to
the Indian market at $135/tonne FOB Ruwais.
In relation to the $15/tonne sulphur price
reduction from October to November,
an ADNOC source said: “We understand that the
market is under pressure so we lowered our price from
$150/tonne and there has been a lack of demand from
China.
“The Indian tender for PPL (Paradeep Phosphates Limited) at
$148/tonne is a netback of $133-134/tonne – this also gave us
[price] direction.”
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