State-owned QatarEnergy Marketing has raised its December Qatar Sulphur Price (QSP) to $495/t fob, up by a substantial $95/t from $400/t fob Ras Laffan/Mesaieed for November.
The December QSP implies a delivered price to China of $517-521/t cfr at current freight rates, which were assessed on 27 November at $22-24/t to south China and at $24-26/t to Chinese river ports for a 30,000-35,000t shipment.
The December QSP has now surpassed the highest level seen during the commodity price peak in July 2022, when it reached $490/t fob. This was followed by a steep drop to $77/t fob in August 2022.
