Tampa:
CSX reportedly announced a rate increase during the week, framed by the company as a response to excessive fuel costs. “(The) industry is dealing with significant increases in logistics costs over the past year on top of this announcement,” said one source.
The second-quarter contract price of molten sulfur delivered to Tampa was set at $481/lt CFR, a $199/lt increase from $282/lt CFR in the prior period.
U.S. refining capacity utilization moved 1.9 percentage points lower in the Energy Information Administration’s (EIA) most recent report. Operable capacity was noted at 88.4 percent for the week ending April 29, falling from 90.3 percent in the prior report. The current-week rate topped both the year-ago 86.5 percent and the 85.1 percent five-year average.
Daily crude inputs also moved down, softening to an average 15.466 million barrels/d, down 218,000 barrels/d from the previous week’s 15.684 million barrels/d rate.
U.S. Gulf:
Price ideas for U.S. Gulf sulfur cargoes were steady at $470-$480/mt FOB, unmoved from the prior report.
Brazil:
Recent Brazil pricing continued to be heard in the $510-$530/mt CFR range, steady from the prior report. Second-quarter contract tons were priced at $480-$485/mt CFR, sources said.
Vancouver:
Solid sulfur loading from Vancouver was reported moving higher for the week as the market moved closer into alignment with higher international-market values. Players noted pricing in the $445-$450/mt FOB range, rising from the week-ago $410-$415/mt FOB.
Alberta:
Alberta netbacks were understood to move higher based on Vancouver, firming to the $375-$411/mt FOB range. Pricing was previously reported at $340-$411/mt FOB.
West Coast:
West Coast prill indications followed Vancouver higher to $445-$450/mt FOB, up from $410-$415/mt FOB in the most recent report. Molten sulfur contracts for the second quarter were quoted in the $375-$390/lt FOB range, rising from $230-$245/lt FOB in the prior period.
China:
Players noted higher values at China, with recent trading firming to $495-$500/mt CFR, above the week-ago $475-$480/mt CFR range.
Qatar:
Muntajat prill rates for May loading were posted at $460/mt FOB Ras Laffan, sources said, up $30/mt from $430/mt FOB in April.