Tampa:
Tampa sulfur contracts for the fourth quarter were valued at $102/lt CFR, an 85% increase on the third quarter’s $55/lt CFR contract.
US Imports:
Sulfur imports for July-September slipped 2.8%, to 686,441 st from the year-ago 706,382 st. September imports moved up 10.2%, however, to 198,791 st from the prior year’s 180,355 st. Cargoes shipping from Canada totaled 330,382 st in July-September, and Saudi Arabia shipped 92,096 st. Mexico sent 53,814 st, ahead of 52,119 st from Iraq.
US Exports:
September sulfur exports were noted at 127,343 st, a 30.2% decrease from the year-ago 182,510 st. July-September volumes were up 12.9%, however, at 586,865 st compared to 519,710 st one year earlier. Brazil took 204,723 st of US sulfur in July-September, ahead of 148,827 st sent to Mexico. Morocco received 135,181 st, while New Caledonia purchased 59,602 st.
US Gulf:
The US Gulf market softened to $85-$90/mt FOB, falling from last week’s $90-$95/mt FOB range. Noting length in the US Gulf, sources described softening sentiment in the market.
Brazil:
Brazil prices declined to $110-$117/mt CFR, off from last week’s $116.50-$120/mt CFR. Following a recent round of buying, sources said there is no demand for fresh shipments into Brazil. Multiple cargoes are being shopped globally, however, keeping the market under pressure.
Vancouver:
Prices in Vancouver remained at $80-$90/mt FOB for the week. Market players continued to focus on China’s new export restrictions and how they might impact sulfur demand.
Alberta:
Alberta netback estimates were unchanged at (-)$13-$30/mt FOB. The range encompassed both molten sulfur cargoes contracted into the US market and solid tons sold internationally through the Vancouver export market.
West Coast:
On par with Vancouver, prices out of the US West Coast remained in the $80-$90/mt FOB range. West Coast molten contracts were reported at $85-$90/lt FOB for loading in the fourth quarter.
China:
China import prices continued at $105-$110/mt CFR. Citing reports of high inventories and new restrictions on phosphate exports, some players expect prices to soften going forward.
ADNOC:
Current posted prices in the Arab Gulf are not economically viable to any destination, sources said. As a result, any transactions originating from the Middle East would have to be priced below posted levels. November offers from Abu Dhabi National Oil Co. (ADNOC) were posted at $100/mt FOB Ruwais, a 9.9% decrease from $111/mt FOB in October.
Qatar:
Muntajat prices were posted at $98/mt FOB Ras Laffan for November loading, down from $104/mt FOB in October.