Tampa:
No changes were reported for the US domestic sulfur markets during the week. Continued price firming in a number of key offshore markets led to predictions of reduced domestic availability, as suppliers in the Alberta and US Gulf markets were increasingly incentivized to send as much product internationally as possible.
With Central Florida phosphate production now back online and sellers increasingly focused on international sales, the domestic US market continued to track in a balanced-to-firm state. Tampa fourth-quarter molten sulfur contracts were concluded at $90/lt CFR, down from $352/lt CFR in the third quarter.
Refinery utilization moved higher for the week, according to the Energy Information Administration (EIA). U.S. refiners operated at a combined 90.6% capacity for the week ending Oct. 22, down from the prior week’s 88.9% rate but ahead of both the year-ago 86.3% and the 85.9% five-year average.
Daily crude inputs were also higher, lifting to an average 15.842 million barrels/d for the period, up from 15.436 million barrels/d the week before.
US Gulf:
Rising prices at Brazil were noted driving US Gulf ideas into the $150s/mt FOB, up from $100-$120/mt FOB reported previously.
Brazil:
A purchase tender from CMOC reportedly closed during the week, with awards pegged in the $185-$190/mt CFR range, above prior expectations in the $170s/mt CFR. The Brazil market was previously reported at $139-$158/mt CFR.
Fourth-quarter contracts for delivery into Brazil were quoted at $119-$138/mt CFR.
Vancouver:
With China values reported on an upswing during the week, the price of sulfur exported from Vancouver firmed to $145-$150/mt FOB, sources said, up from last week’s $130-$135/st FOB.
Alberta:
Netbacks on sulfur loading from Alberta were indicated in the (-)25-$80/mt FOB range, up from (-)25-$65/mt FOB in the prior report. Solid material trading through the Vancouver export market set the high end of the range, while contract tons sold into the US market established the lows.
West Coast:
West Coast solid sulfur prices followed Vancouver up to $145-$150/mt FOB, above the $130-$135/mt FOB range in the prior report.
Sources reported fourth-quarter contracts on molten sulfur loading from West Coast locations at $75-$79/lt FOB, below $370-$385/lt FOB in the prior period.
China:
Sources described recent China sulfur trading in the $180-$185/mt CFR range. The market was previously reported at $170-$175/mt CFR, a $10/mt change.
ADNOC:
No changes were noted in the posted price of Abu Dhabi National Oil Co. (ADNOC) prills during the week, leaving offers at a reported $103/mt FOB Ruwais. Firmer values were expected in the company’s November posting, which are expected soon.
Qatar:
Muntajat was heard to set November posted pricing at $149/mt FOB Ras Laffan. The Qatar price was previously heard at $104/mt, a $45/mt change.