Your Sulfur Supplier Found a Better Customer
The last complete month of US customs data has American sulfur leaving the Gulf at $1,041 a tonne, with Morocco taking half of it. Mosaic settled the third quarter with those same refiners at $705 a long ton. The fourth-quarter number has not settled yet, and the netback gap is what the refiner is looking at while you negotiate.
July is the last month UN Comtrade reports for US trade, and it has American sulfur leaving the country at $1,040.86 a tonne.
A year earlier the same line cleared at $255.26. In January 2024 it cleared at $76.43.
One destination took 115,150 of the month's 235,340 tonnes.
"If a Gulf refiner can get $1,041 for a tonne of sulfur, what is it doing selling into a $694 contract?"
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