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 May were $154-170/t for 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 for example to rise above Middle East fobs to $990-1,100/t fob.
Another problem for 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.
