Tampa:
The second-quarter contract price of molten sulfur delivered to Tampa was set at $103/lt CFR, $27/lt below $130/lt in the first quarter, a 20.8% decrease. Reduced run rates and planned summer turnarounds expected from phosphate producers were noted limiting demand.
US Gulf:
Various sellers were reported to have available product they are unable to sell. Pricing continued to be estimated at $75-$85/mt FOB, unchanged last week.
Brazil:
Sources noted Brazil spot prices softening to a $105-$115/mt CFR range. Players noted a lack of demand in a well-supplied market, while logistic constraints continued due to port terminal maintenance. The market’s next demand wave is expected for August arrival.
Vancouver:
Vancouver prices continued in the $80-$85/mt FOB range, unchanged from last week.
Alberta:
Based on both molten sulfur cargoes contracted into the US market and solid tons sold through the Vancouver export market, Alberta sulfur netbacks were unmoved in a (-)$12-$33/mt range.
West Coast:
West Coast prills were indicated on par with Vancouver in a $80-$85/mt FOB range, steady from one week earlier.
Molten sulfur contracts for loading in the second quarter were reported at $98-$106/lt FOB, falling from $125-$135/lt FOB in the prior period.
China:
China spot sulfur continued to be reported in a $105-$110/mt CFR range. Market watchers described a lack of interest from buyers, building producers phosphate inventories, and increasing sulfur inventories at the ports, all mixed with a decline in global phosphate prices.
ADNOC:
No updates were reported for the June Abu Dhabi National Oil Co. (ADNOC) price. May prices were posted at $84/mt FOB Ruwais.
Qatar:
June Muntajat solid sulfur cargoes remained posted at $86/mt FOB Ras Laffan, unchanged from May. Some believed a $10/mt discount was possible on firm interest.