Tampa:
The second-quarter contract price of molten sulfur delivered to Tampa closed at $103/lt CFR, $27/lt below the first-quarter $130/lt, a nearly 21% decrease. Reports of reduced run rates and planned summer turnarounds from phosphate producers were noted suppressing demand.
US Gulf:
Multiple sources reported prices moving lower, to $75-$85/mt FOB from the week-ago $80-$90/mt FOB. Players cited both an absence of demand and a buildup of inventory for the softening sentiment.
Brazil:
Sources noted that Brazil spot pricing remains in a $110-$120/mt CFR range. The market remains covered, players said, although logistics constraints continued at the market’s primary discharge terminals.
Vancouver:
Vancouver prices remained in the $80-$85/mt FOB range, unchanged from last week. A lack of demand from China continued to be blamed for a slight negative sentiment in the market.
Alberta:
Based on both molten sulfur cargoes contracted into the US market and solid tons sold through the Vancouver export market, Alberta sulfur netback estimates were unchanged in a (-)$12-$33/mt range.
West Coast:
West Coast prills were indicated on par with Vancouver at $80-$85/mt FOB, steady from last week.
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:
China spot sulfur continued in a $105-$110/mt CFR range. Sources reported a lack of interest from buyers, building phosphate inventories, an increase of sulfur inventories at the ports, and the steep decline in global phosphate prices as weighing on the market.
ADNOC:
Prilled sulfur produced by the Abu Dhabi National Oil Co. (ADNOC) was posted at $84/mt FOB Ruwais for May loading, $31/mt below $115/mt FOB reported in April.
Qatar:
May Muntajat solid sulfur cargoes were posted at $86/mt FOB Ras Laffan, sources said, a $24/mt drop compared to April’s $110/mt FOB posting. The May price represents a nearly 22% month-over-month decline.