U.S. Gulf:
Rapidly tightening international sulfuric acid availability was reported to add substantial upside pressure to the spot import market.
Recent business into South America quoted up to $120/mt CFR left the Gulf market’s previous sub-$100/mt valuation infeasible, sources said. New spot cargoes loading in the next two months would need to carry pricing at a minimum $110-$120/mt CFR to land in the Gulf, they said.
Gulf Coast:
Annual domestic contracts continued to be reported at $85-$110/st DEL for delivery to Gulf Coast destinations. Skyrocketing import values were likely to pressure agreements higher in the next round of business, sources said.
“The problem is that importers cannot bring in these values and expect to make any money,” one player said. “The (contracted) domestic prices this year were so low that it is effectively blocking spot import purchases.”
Midwest:
The Midwest market was quoted even with the Gulf at $85-$110/mt DEL for 2021 agreements.
West Coast:
Tons delivered to the West Coast fell in the $100-$130/st DEL range, sources said.
Brazil:
Recent business on the Brazil spot import market was reported in the $115-$120/mt CFR range, firming from $85-$90/mt CFR reported previously. Sources described similar spot levels out of the Chile and Argentina markets.