Tampa: The domestic sulfur market was quiet heading into the holidays, sources said, but speculation regarding the first-quarter price of molten sulfur at Tampa was rife.
While all agreed the start of negotiations was still some time away, many said they expected a modest rise based on recent increases in the Chinese and Middle Eastern markets. Others, however, said those prices were unlikely to be sustained and a first-quarter increase was far from cut-and-dried.
Molten sulfur delivered to Tampa was $129/lt CFR for the fourth quarter.
U.S. refinery utilization fell last week, posting its first weekly decline since Oct. 24. Domestic refiners ran at 93.5 percent of capacity for the week ending Dec. 12, according to the U.S. Energy Information Administration, down 1.9 percent from the previous week’s 95.4 percent, but up from 2013’s 91.5 percent and the five-year average of 89.9 percent.
Average daily refinery inputs fell commensurately. Inputs averaged 16.301 million barrels/d for the week, a decline of 326,000 barrels/d from the previous week’s 16.627 million barrels/d.
U.S. Gulf: The Gulf sulfur market was quoted in a range of $135-$140/mt FOB, unchanged from the previous week.
Vancouver: Vancouver spot was steady at levels above $140/mt FOB. Sources expected little or no further spot activity before the New Year. Fourth-quarter contracts were quoted in a range of $140-$150/mt FOB.
Alberta refiner Syncrude 21 was said to be online and loading sulfur again last week following the latest in a series of extended production interruptions at the facility. The refinery, boasting an approximate 2,000 mt/d capacity, was beset by unplanned outages throughout 2014.
The price of Alberta sulfur was quoted in a range of (-)$10-$75/mt.
West Coast: Sulfur sold from the West Coast was called $135-$140/mt FOB.
Fourth-quarter molten contracts were $90-$130/lt FOB.
Benelux: The third-quarter price of sulfur in the Benelux region was $158-$172/mt FOB.
ADNOC: The December sulfur price was $150/mt FOB at Abu Dhabi. January 2015 sulfur was offered at $158/mt FOB.
Aramco: Sulfur sold by Saudi Aramco was set at $158/mt FOB for January 2015, a $33/mt increase from December’s $125/mt FOB.