Tampa:
Tampa molten contracts were agreed at $130/lt CFR for the first quarter, a $40/lt increase from $90/lt CFR in fourth-quarter 2022.
Refinery utilization inched lower for the week, according to the US Energy Information Administration (EIA). Operable capacity was counted at 85.8% for the period ending Feb. 24, down 0.1 percentage points from 85.9% posted one week earlier, and lagged the year-ago 87.7% while beating the 80.7% five-year average.
Crude inputs slipped to an average 14.979 million barrels/d for the period, a decrease of 31,000 barrels/d from the week-ago 15.010 million barrels/d.
US Gulf:
US Gulf spot pricing continued to be reported in a $120-$125/mt FOB range, steady from one week earlier.
Brazil:
Players noted Brazil imports stretching to a wide $135-$160/mt CFR range, above $135-$150/mt CFR at last check. The low was set by a recent CMOC tender award reported in the mid-$130s. Total was believed to supply the winning offer, with the tons thought to originate from the US Gulf. Players reported smaller cargoes changing hands up to $150-$160/mt CFR in the wake of the tender.
Import contracts for the first quarter were understood to fall in a $172-$186/mt CFR range.
Vancouver:
Vancouver prills were unchanged at $115-$120/mt FOB, unmoved from the prior report.
Alberta:
Sulfur produced in Alberta was indicated to net back $15-$60/mt FOB to sellers. The range included both molten tons contracted into the US market and prilled material selling internationally through the Vancouver export market.
West Coast:
Solid sulfur pricing on the West Coast was indicated in line with Vancouver at $115-$120/mt FOB, unchanged from the prior report.
First-quarter molten contracts landed in a $125-$135/lt FOB range, rising from $75-$79/lt FOB in the prior quarter.
China:
Sources reported China spot imports rising to $150-$158/mt CFR, up from $150-$154/mt CFR.
ADNOC:
Firming values in the Middle East were expected to lift Abu Dhabi National Oil Co. (ADNOC) offers in March, with some players expecting posted prices near the $140/mt FOB level. February offers were reported at $127/mt FOB Ruwais.
Qatar:
Players noted Muntajat offers firming to $133/mt FOB Ras Laffan for March, up $9/mt from $124/mt FOB logged in February.