Tampa:
The second-quarter contract price of molten sulfur delivered to Tampa closed at $103/lt CFR, $27/lt below the last-quarter value of $130/lt, a 20.8% decrease in price. Some players described the current $103/lt CFR contract price as high compared to the spot market.
US Imports:
July-April sulfur imports softened 13.2% year-over-year, to 2.33 million st from 2.69 million st. April imports were 243,030 st, however, up 24.0% from the year-ago 195,922 million st.
US Exports:
Sulfur exports for April softened 13.9% year-over-year, to 161,747 st from 187,885 st. July-April shipments were 35.7% higher, however, at 1.82 million st compared to the year-ago 1.34 million st.
US Gulf:
Multiple sources reported both an absence of demand and a buildup of inventory during the last few weeks. The US Gulf price was assessed in the $60-$70/mt FOB range, $15/mt below last week’s $75-$85/mt FOB, a nearly 20% week-over-week decline.
Brazil:
Sources reported no changes in Brazil spot pricing, calling the market $105-$115/mt CFR. Market watchers noted a lack of demand and a well-supplied market, while logistics remain constrained due to ongoing port terminal maintenance. The next round of demand 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 prilled tons sold through the Vancouver export market, Alberta sulfur netbacks were estimated around (-)$12-$33/mt FOB, unchanged from one week earlier.
West Coast:
West Coast prills were indicated on par with Vancouver in the $80-$85/mt FOB range, steady from last report.
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:
There were no changes reported at China, leaving the spot sulfur price at $105-$110/mt CFR. Market watchers described a lack of interest from buyers, building phosphate inventories, and increasing sulfur inventories at ports, all mixed with a steep decline in global phosphate prices.
ADNOC:
Prilled sulfur produced by the Abu Dhabi National Oil Co. (ADNOC) was posted at $86/mt FOB Ruwais for loading in June. As with product from Qatar, buyers reported a possible $10/mt discount available on firm interest.
Qatar:
June Muntajat solid sulfur cargoes were posted at $86/mt FOB Ras Laffan, unchanged from May. A $10/mt discount from the posted price might be attainable on firm interest, some players said.