Tampa:
Despite some increases expected in a number of international markets through the short-term, sources described “little consensus on continued direction for sulfur pricing” among market watchers.
The second-quarter Tampa molten contract was negotiated at $481/lt CFR, rising from $282/lt CFR in the prior period.
Nationwide refinery utilization moved higher in the Energy Information Administration’s (EIA) most recent report. Capacity was noted at 90.0% for the week ending May 6, a 1.6% hike from the prior 88.4%, topping both the year-ago 86.1% and the five-year average of 84.7%.
Crude inputs moved up as well, registering an average 15.696 million barrels/d through the period, a 230,000 barrel/d increase from 15.466 million barrels/d at last report.
U.S. Imports:
Sulfur imports for March increased 6.0%, to 296,628 st from the prior-year 279,902 st. Imports totaled 2.49 million st in the July-March period, however, falling 7.2% year-over-year from 2.69 million st.
U.S. Exports:
Exports moved up 36.3% in July-March, to 1.11 million st from the year-ago 813,575 st. Cargoes were noted at 75,011 st for March, up 13.8% from the year-ago 65,916 st.
U.S. Gulf:
Recent U.S. Gulf export values continued to be reported in the $470-$480/mt FOB range, steady from the prior week.
Brazil:
Last-done Brazil imports were quoted in a wide $510-$530/mt CFR range. Players generally predicted firming prices in the next round of business. Import contracts were reported at $480-$485/mt CFR for second-quarter delivery.
Vancouver:
With delivered values at China on the rise, players noted higher levels in the Vancouver prill market, citing prices in the $465-$470/mt FOB range, above the week-ago $445-$450/mt FOB.
Alberta:
Alberta netbacks were indicated in the $395-$411/mt FOB range, up from $375-$411/mt FOB reported previously. The range included molten tons contracted into the US market at the high, while solid material exported via Vancouver was understood to comprise the low.
West Coast:
West Coast spot levels moved up to an indicated $465-$470/mt FOB range, from $445-$450/mt FOB at last report. Second-quarter molten contracts were reported at $375-$390/lt FOB, above $230-$245/lt FOB reported in the first quarter.
China:
Sources reported spot cargoes lifting to $510-$515/mt CFR at China. The market was previously noted at $495-$500/mt CFR.
ADNOC:
Abu Dhabi National Oil Co. sulfur offers for May were heard at $470/mt FOB Ruwais, a $50/mt rise from April’s reported $420/mt FOB posting.
Qatar:
Muntajat solid sulfur tons was posted at $460/mt FOB Ras Laffan, sources said. The Qatar market was called $430/mt FOB in prior period, a $30/mt difference.