Tampa:
Third-quarter Tampa molten sulfur contracts remained unsettled for the week. Players are expecting settlements to come within the first few weeks of July. The second-quarter contract was set at $103/lt CFR, $27/lt below $130/lt CFR in the first quarter. Some sources put the current spot market below the second-quarter contract price.
US Gulf:
Market players reported prices in a $55-$65/mt FOB range. Some questioned whether rallies in the US phosphate and grain markets, the return of some phosphate production from turnaround, and a return to buying from Brazil might be enough to trim the length in the US Gulf market.
Brazil:
Sources expect the next shipment to Brazil to arrive in the second half of August. Prices were estimated at $80-$90/mt CFR, down from last week’s $87-$95/mt CFR.
Vancouver:
Vancouver prices declined again, to $65-$70/mt FOB from the week-ago $70-$75/mt FOB.
Alberta:
Based on molten sulfur cargoes contracted into the US market and solid tons sold through the Vancouver export market, Alberta sulfur netbacks were unchanged in a (-)$12-$33/mt FOB range.
West Coast:
West Coast prills fell in line with Vancouver, to $65-$70/mt FOB.
Molten sulfur contracts were reported at $98-$106/lt FOB for second-quarter loading, falling from $125-$135/lt FOB in the prior period.
China:
Prices at China remained at the week-ago $90-$95/mt CFR level.
ADNOC:
Prilled sulfur produced by the Abu Dhabi National Oil Co. (ADNOC) remained posted at $86/mt FOB Ruwais for June. Sources reported third-quarter contracts settling at $65/mt FOB.
Qatar:
June solid sulfur cargoes were posted at $86/mt FOB Ras Laffan, unmoved from May. Some sources reported a potential $10/mt discount available on firm interest.