QatarEnergy raises June sulphur price to $805/t fob

State-owned QatarEnergy Marketing has raised its June Qatar Sulphur Price (QSP) by $65/t to $805/t fob Ras Laffan/Mesaieed.

Freight rates as of 28 might were $154-170/t to a 30,000-35,000t shipment to Chinese ports. This implies a delivered cost of $959-975/t cfr, with additional insurance premiums raising prices further on a delivered basis.

Delivered Middle East sulphur prices are higher compared to product from competing origins, allowing Vancouver fobs to instance to rise above Middle East fobs to $990-1,100/t fob.

Another issue to Middle East supply is the longer delivery time as a result of uncertain passage through the strait of Hormuz since the onset of the US-Iran war.

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