LONDON (ICIS)--Saudi Aramco Trading’s April sulphur posted price is understood to have been announced at $122/tonne FOB (free on board), a fall of $13/tonne compared with March.
The fall in Saudi Aramco Trading’s April posted price follows similar falls in the ADNOC’s Official Selling Price (OSP) to India, and Muntajat’s Qatar Sulphur Price (QSP).
The falls in the monthly posted prices were caused by weak demand in China which has seen a similar drop in Middle East spot prices.
Muntajat’s mid-month tender – which typically sets the tone for posted price announcements – is believed to have been awarded in the high-$110s/tonne FOB, with bids in the low $100s/tonne also received, but rejected.
There had previously been speculation in the market that Aramco will discontinue its monthly posted price in line with downstream domestic phosphates capacity expansion and an increased focus on CFR pricing, but this is yet to be confirmed.