State-owned QatarEnergy Marketing has raised its November Qatar sulfur price (QSP) to US$400/t fob, up by a substantial US$76/t from US$324/t fob Ras Laffan/Mesaieed for September.
The November QSP implies a delivered price to China of US$420 - 425/t cfr at current freight rates, which were assessed on 23 October at US$20 - 22/t to south China and at US$23 - 25/t to Chinese river ports for a 30 000 - 35 000 t shipment.
This increase follows a steady rise of sulfur prices throughout this year, with the Qatar sulfur price rising by US$234/t, or 141%, from January to November. November's QSP is the highest level since April to July 2022, when it reached US$428 - 490/t fob, and then dropped by US$351/t from July to US$77/t fob in August.
Read the original report by Maria Mosquera on Argus Media.