Tampa:
Second-quarter contracts for molten sulfur delivered to Tampa were valued at $481/lt CFR, up $199/lt from $282/lt CFR in the prior period.
U.S. refining capacity firmed to 91.0 percent for the week ending April 15, up 1.0 percent from the prior week’s 90.0 percent rate and the sector’s highest run rate reported for the third week of April since 2017, the U.S. Energy Information Administration (EIA) reported. The current rate tracked above both the year-ago 85.0 percent and the 84.9 percent five-year average.
Daily crude inputs also pushed higher, the EIA said, lifting to an average 15.717 million barrels/d for the week, up 194,000 barrel/d from the prior week’s 15.523 million barrels/d rate.
U.S. Imports:
February sulfur imports totaled 215,628 st, off 13.1 percent from the year-ago 248,007 st. July-February volumes were counted at 2.20 million st, an 8.8 percent decrease from the prior year’s 2.41 million st.
U.S. Gulf:
Players noted increasing sulfur inventories at locations along the U.S. Gulf, leading some to suggest the build-up could lead to rising exports out of the region. Others believed the mounting inventories were largely confined to Louisiana, however, describing the tons as a marker of increased local supply and unlikely to find their way to the export market.
Gulf pricing continued to be noted in the $460-$480/mt FOB range, steady from one week earlier.
Brazil:
Sources noted last-done Brazil in a wide $510-$530/mt CFR range, unmoved from the prior report. Second-quarter Brazil contracts were reported in at $480-$485/mt CFR.
Vancouver:
Vancouver prill pricing was noted firming to the $405-$415/mt FOB range, up from $400-$410/mt FOB one week earlier.
Alberta:
Alberta sulfur netbacks lifted in line with Vancouver to an indicated $335-$411/mt FOB range, up from $330-$411/mt FOB at last report. Tons selling offshore from the Vancouver export market were expected to trend toward the bottom of the range.
West Coast:
West Coast spot tons followed Vancouver higher to $405-$415/mt FOB, up from $400-$410/mt FOB reported previously. Molten sulfur loading from locations on the West Coast were quoted in the $375-$390/lt FOB range for the second quarter, up from $230-$245/lt FOB in 1Q.
China:
Market watchers noted rising values in the China spot sulfur market, quoting recent prices in the $470-$475/mt CFR range, above the week-ago $465-$470/mt CFR.
ADNOC:
Abu Dhabi National Oil Co. prills were heard at $420/mt FOB Ruwais for April loading, up $85/mt FOB from $335/mt FOB in March.
Qatar:
April solid sulfur loadings from Qatar stood at $430/mt FOB Ras Laffan, players said, a $97/mt increase on the March price of $333/mt FOB.