Tampa:
Fourth-quarter Tampa molten sulfur contracts were reported at $90/lt CFR, off $262/lt from $352/lt CFR in the previous period. Rising international values relative to the start of 4Q were expected to lift Tampa in the next round of contracting.
US refinery operating rates lifted higher for the week, the US Energy Information Administration (EIA) reported. Utilization was pegged at 95.5% of nationwide capacity for the period ending Dec. 2, up from the prior week’s 95.2% and ahead of both the year-ago 89.8% and the 90.3% five-year average.
Crude inputs softened, however, falling to an average 16.585 million barrels/d for the week, down 53,000 barrels/d from the week-ago 16.638 million barrels/d.
US Gulf:
Players continued to see price ideas on sulfur loading from the US Gulf in the $155-$165/mt FOB range, unmoved from the prior report.
Brazil:
Following a week-ago jump to $210-$215/mt CFR, prilled sulfur values at Brazil were noted softening slightly to $208-$215/mt CFR. The lower price was said to stem from a purchase by CMOC.
Fourth-quarter Brazil import contracts continued to be pegged at $119-$138/mt CFR.
Vancouver:
New business reported at China lifted Vancouver values, players said. Prices moved to $160-$170/mt FOB for the week, up from $150-$160/mt at last report.
Alberta:
Netbacks to Alberta suppliers firmed to the (-)$25-$100/mt FOB range in the wake of the strengthening Vancouver market, up from (-)$25-$90/mt FOB in the prior report.
With values at the low side of the range representing returns on molten tons contracted into the US market, Alberta producers were reportedly sending as much tonnage offshore as possible in pursuit of higher netbacks.
West Coast:
Prilled sulfur loading from the West Coast was indicated even with Vancouver at $160-$170/mt FOB, rising from $150-$160/mt FOB the week before.
Contracts for molten sulfur loading from refineries on the West Coast were reported in the $75-$79/lt FOB range for loading in the fourth quarter, off from $370-$385/lt FOB in 3Q.
China:
China sulfur import values moved higher during the week. Players noted new business firming to $200-$205/mt CFR, lifting from the prior $190-$195/mt CFR range. Market watchers expected a quiet market through the remainder of the year.
ADNOC:
Abu Dhabi National Oil Co. solid sulfur offers for December were reported firming to $180/mt FOB Ruwais, a $40/st increase from $140/mt FOB in November.
Qatar:
Formed sulfur offered by Muntajat climbed to $185/mt FOB Ras Laffan for December lifting, sources said, up $36/mt from the prior month’s $149/mt FOB.
Kuwait:
Market sources noted sulfur vessels loading from Kuwait at $183/mt FOB for December.