Tampa:
Third-quarter Tampa molten sulfur contracts were priced at $195/lt CFR, up $3/lt from $192/lt CFR in the second quarter.
Operable refining capacity ticked higher for the week ending Aug. 20, the U.S. Energy Information Administration (EIA) reported. The EIA described nationwide utilization at a combined 92.4 percent for the period, a 0.2-point increase from 92.2 percent in the prior week. The rate topped the year-ago 82.0 percent while trailing the 92.6 percent five-year average.
Daily crude inputs also lifted higher, averaging 16.072 million barrels/d for the period, a 66,000 barrel/d increase from 16.006 million barrels/d posted previously.
U.S. Gulf:
Phillips 66 was reported to be in talks with a prospective buyer after announcing on Aug. 24 that it would place its Alliance refinery on the selling block, according to Reuters. A number of oil companies have announced divestment plans for refining assets in the coming years amid increasing adoption of electric vehicles in the consumer automobile market. The 255,000 barrel/d Alliance plant is located in Belle Chasse, La.
A debris fire on Aug. 24 at the 369,000 barrel/d ExxonMobil Corp. refinery in Beaumont, Texas, was quickly extinguished with minimal loss of production, Reuters reported. An employee lockout has remained underway at the plant since May 1.
Recent spot sulfur cargoes loading in the U.S. Gulf were noted in the $173-$181/mt FOB range, unmoved from the prior report. Sources continued to report an excess of inventory held at locations throughout the region, speculating that additional offshore prill trades could become necessary in the short term as a result.
Brazil:
A reported sale to a major fertilizer producer in Brazil during the week was priced around the $210-$212/mt CFR mark, players indicated, shy of the market’s prior $216/mt CFR floor. As a result, sources pegged the most recent market in the $210-$216/mt CFR range, falling from $216-$221/mt CFR in the prior report.
Sources quoted third-quarter contracts in the $221-$223/mt CFR range, an increase from $213-$214mt CFR in the second quarter.
Vancouver:
Rising sulfur values at China were expected to lift Vancouver in the next round of business, with sources citing likely near-term levels in the $180s/mt FOB. For now, last-done continued to be noted at $173-$176/mt FOB, steady from one week earlier.
Alberta:
Alberta sulfur continued to net back in the $68-$106/mt FOB range, players indicated.
West Coast:
Price ideas on the West Coast sulfur market were reportedly on par with Vancouver at $173-$176/mt FOB, unchanged from week-ago levels. Third-quarter molten contracts were quoted at $150-$155/lt FOB for tons loading from West Coast locations, up from $140-$155/lt FOB in the second quarter.
China:
Port sulfur inventories at China have reportedly slipped to a 2021 low of 1.5 million mt, half of the approximately 3 million mt reported on hand at the start of the year. As a result, spot import vessel pricing was reported firming to $230-$233/mt CFR in recent trading, an increase from $213-$216/mt CFR noted previously.
The country’s domestic sulfur market was heard trading at a roughly $250/mt CFR-equivalent. With updated import offers reportedly pressing to $240/mt CFR and higher for the week, sources argued that additional increases are likely in the next round of business.
ADNOC:
ADNOC prill pricing was reported at $175/mt FOB Ruwais for the current month, unchanged from the prior period.
Qatar:
Solid sulfur offered from Qatar was noted at $164/mt FOB Ras Laffan for loading in August, falling $15/mt from July’s $179/mt FOB offer.