Qatar’s Tasweeq moves February sulphur price up to $182/tonne

Julia Meehan

29-Jan-2015

sulphurLONDON (ICIS)–Qatar International Petroleum Marketing Company Ltd (Tasweeq) has increased its Qatar Sulphur Price (QSP) for February by $13/tonne, the company confirmed on Thursday.

The QSP was announced at $182/tonne FOB (free on board) Ras Laffen, marking an increase of $13/tonne from the January price of $169/tonne.

Reacting to the Tasweeq price, a trader said: “Will China pay this price is the question now? I think most buyers are covered – I know for sure that India is covered.

“If China pays a higher price so will India. At the moment China is around $190-195/tonne CFR (cost and freight) and India is around $190-192/tonne CFR.”

A second major producer in the Middle East, ADNOC, has yet to announce its February sulphur price, although an announcement is imminent.

ADNOC set its official selling price (OSP) for the Indian market at $170/tonne FOB Ruwais.

Meanwhile, Saudi Aramco will not publish its March price for another couple of weeks.

Saudi Aramco Trading set its monthly sulphur price for shipments in February at $180/tonne FOB (free on board) Jubail, up $22/tonne from January.

When discussing the supply and demand balance of the market, a source at Saudi Aramco said: “We are still sold-out. Lots of customers are knocking at the door and the demand is not only in China, it is also in other parts of the world. Even if some buyers are covered there is no additional supply coming up and people will need to come back to restock.”

READ MORE

Global News + ICIS Chemical Business (ICB)

See the full picture, with unlimited access to ICIS chemicals news across all markets and regions, plus ICB, the industry-leading magazine for the chemicals industry.

Contact us

Now, more than ever, dynamic insights are key to navigating complex, volatile commodity markets. Access to expert insights on the latest industry developments and tracking market changes are vital in making sustainable business decisions.

Want to learn about how we can work together to bring you actionable insight and support your business decisions?

Need Help?

Need Help?