Tampa: Most sources called the domestic sulfur market balanced-to-short last week, blaming a shift to sweeter, lower-sulfur feedstock for the thinning supply. “We have seen recent changes in crude slates cause many refineries to be off on projected volumes by up to 40 percent,” one market player said.
The first shipment of solid sulfur for processing at Mosaic’s New Wales, Fla., melter is due in port during the week of Aug. 2, sources said. Pricing and origin information for the cargo were unavailable.
The third-quarter contract price of molten sulfur delivered to Tampa was $137/lt, a $5/lt increase from Q2.
Domestic refinery capacity stumbled last week, according to data from the U.S. Energy Information Administration (EIA). The EIA put utilization at 95.1 percent for the week ending July 24, a 0.4 percent decline from 95.5 percent in the previous report. Despite the dip, the rate was higher than both the year-ago 93.5 percent and the five-year average of 90.1 percent.
The rate extended the summer’s historically high capacity, representing the highest fourth-week July utilization rate since 97.0 percent was recorded on July 23, 2004.
Daily crude inputs softened to an average 16.762 million barrels/d, 108,000 barrels/d lower than the previous week’s 16.870 million barrels/d.
Vancouver: Spot cargoes sold from Vancouver were called in a range of $140-$150/mt FOB, sources said, with unconfirmed transactions mentioned as high as $155/mt FOB. Vancouver contracts continued to be negotiated based on short-term market conditions, sources said, resulting in prices mirroring the spot range.
Traders called the Chinese market firm at $165/mt CFR, though some predicted a softer 30-day outlook based on weakening worldwide commodities markets.
Alberta producer netbacks were unchanged at (-)$10-$85/mt.
U.S. Gulf: Confirmed prices on the U.S. Gulf were unchanged in a range of $135-$145/mt FOB for the week.
West Coast: Sources continued to call West Coast formed sulfur $130-$140/mt FOB.
Third-quarter California molten contracts were $75-$125/lt FOB.
ADNOC: ADNOC prills were listed at $150/mt FOB Ruwais for the month of July. Updated pricing for August was expected soon.
Aramco: The August price of Saudi Aramco sulfur was $152/mt FOB Jubail.
Tasweeq: Middle Eastern sulfur continued to inch higher last week. Tasweeq raised its listed price of formed sulfur for the month of August to $151/mt FOB Ras Laffen, a $2/mt increase from $149/mt FOB in July.