Tampa:
Second-quarter Tampa molten sulfur contracts settled at $81/lt CFR, a 17.4% increase from $69/lt CFR in the first quarter. Market players expressed surprise at how early the contract settled, while some expected a higher price given that the market’s current supply and demand balance is not anticipated to last the entire quarter.
US Gulf:
US Gulf sulfur pricing strengthened 15.4% following the Tampa settlement, players said, to $80-$81.50/mt FOB from last week’s $69-$71/mt FOB.
Brazil:
Brazil import prices continued at $105-$110/mt CFR. Market players expect higher prices in the next round of transactions.
Vancouver:
Vancouver prills remained at $77-$80/mt FOB for the week.
Alberta:
The rising Tampa contract pushed Alberta netbacks to (-)$34-$11/mt FOB, with both molten sulfur cargoes contracted into the US market and solid material shipped offshore through the Vancouver export market represented in the range.
West Coast:
West Coast prills continued in the $77-$80/mt FOB range, and first-quarter molten contracts were valued at $50-$55/lt FOB. Updated second-quarter pricing is expected soon.
China:
China import prices remained at $100-$105/mt CFR, steady from the prior report. With port inventories at China reportedly reaching the 3 million mt mark, some market players anticipate softening prices in the short-term.
ADNOC:
Abu Dhabi National Oil Co. (ADNOC) sulfur firmed to $78/mt FOB Ruwais for March loading, up 13% from $69/mt FOB in February.
Qatar:
March Muntajat prices were posted at $78/mt FOB Ras Laffan, sources said, a 13% increase from February’s $69/mt FOB posting.