Tampa:
Contracts for molten sulfur delivered to Tampa were quoted at $96/lt CFR for delivery in the first quarter, up $27/lt from the previous $69/lt settlement.
Refinery runs moved higher for the week, the U.S. Energy Information Administration (EIA) reported. Refiners utilized 83.0 percent of capacity for the period ending Feb. 5, a 0.7-point rise from 82.3 percent posted previously. Despite the increase, the current rate trailed both the year-ago 88.0 percent and the 88.4 percent five-year average.
Daily crude inputs were also higher, registering an average 14.793 million barrels/d for the period, a 152,000 barrel/d increase from 14.641 million barrels/d logged one week earlier.
U.S. Imports:
The DOC reported sulfur imports totaling 283,154 st in December 2020, a 39.0 percent increase compared to 203,729 st in December 2019. Buyers received 1.87 million st in the July-December period, up 5.3 percent from the year-ago 1.77 million st.
U.S. Exports:
December sulfur exports were recorded at 114,952 st, off 33.6 percent from 173,199 st in the prior year. July-December totals were down as well, falling 30.7 percent to 556,971 st from 803,823 st in 2019.
U.S. Gulf:
Gulf export price ideas were noted in a wide $135-$150/mt FOB range based on recent international business, lifting from the week-go $118-$125/mt FOB.
Brazil:
Recent Brazil pricing was noted at $170-$180/mt CFR, rising from $148/mt CFR published previously. Business for the week was reported to include a $180/mt CFR cargo loading from Vancouver. A small number of contracts were noted in the $116-$119/mt CFR range for first-quarter delivery.
Vancouver:
Vancouver export values were reported in the $140-$149mt FOB range, up from $135-$140/mt FOB at last check. A reported sale into Brazil valued at $180/mt CFR was projected to net back in the high-$140s/mt FOB Vancouver. Sources described indications for the next round of business firming into the $150s/mt FOB.
Alberta:
Alberta sulfur netbacks were noted lifting to the (-)$31-(-)$79/mt FOB range, up from (-)$31-(-)$70/mt FOB published one week earlier.
West Coast:
Sulfur loading from the West Coast trailed Vancouver higher, firming to $140-$149/mt FOB from the prior week’s $135-$140/mt FOB range. First-quarter molten contracts were quoted in a wide $70-$77/lt FOB range, rising from $45-$60/lt FOB in the previous period.
China:
Sources noted firm bidding at $173-$178/mt CFR ahead of the country’s Lunar New Year holiday, lifting the market from $162-$170/mt FOB reported previously.
ADNOC:
The Abu Dhabi National Oil Co. (ADNOC) raised February prill offers to $128/mt FOB Ruwais, sources said, up $26/mt from $102/mt FOB posted in January.
Qatar:
Solid sulfur loading from Qatar was posted at $125/mt FOB Ras Laffan in February, sources said, rising $24/mt from $101/mt FOB in the prior month.