Tampa: Market insiders described continued strong demand across the domestic system, with some reporting incremental tightness as a result. “We cannot find any available tons in the spot market anywhere,” one trader said.
Mosaic’s solid sulfur melter, currently under construction at New Wales, Fla., remains on track for third-quarter commissioning. Sources expect the facility to receive its first cargo of solid material in August.
The third-quarter contract price of molten sulfur delivered to Tampa is $137/lt, a $5/lt increase from $132/lt in the second quarter.
Refinery utilization rose to 95.5 percent of capacity for the week ending July 17, according to the U.S. Energy Information Administration (EIA). The rate represented a 0.2 percent increase from the previous week’s 95.3 percent, and was also higher than both the year-ago 93.8 percent and the 93.0 percent five-year average.
The numbers continued a trend of historically high output that began in June, and represented the highest third-week July utilization estimate since 97.0 percent was recorded on July 23, 2004.
Daily crude inputs were also higher at 16.870 million barrels/d, an increase of 45,000 barrels from the previous week’s 16.825 million barrels/d.
U.S. Gulf: The Gulf sulfur market was called $135-$145/mt FOB, unchanged from the week before.
Vancouver: Sources continued to call the Vancouver spot market in a range of $140-$150/mt FOB, with most transactions coming in the low $140s/mt FOB. The numbers were mostly attributed to China spot prices in the mid-$160s/mt CFR, and some said $170/mt CFR was being tested for the next round of business.
Netbacks to Alberta producers fell in a wide range of (-)$10-$85/mt, though many expected that number to rise in step with Tampa as more third-quarter contracts are finalized.
West Coast: West Coast prills were flat at $130-$140/mt FOB last week, sources said.
Third-quarter contracts for California molten sulfur were quoted in a range of $75-$125/lt FOB, down from $90-$130/lt FOB in the second quarter.
ADNOC: Sulfur produced by the Abu Dhabi National Oil Co. carried a price of $150/mt FOB Ruwais in July, $5/mt higher than in June.
Aramco: Saudi Aramco product was listed at $152/mt FOB Jubail for August fulfillment. The July price was $144/mt FOB.
Tasweeq: The July price of Qatar sulfur was $149/mt FOB Ras Laffen, $8/mt above the $141/mt FOB June price.