Iranian sulphur sold through Iran Mercantile Exchange

LONDON (ICIS news)–Iranian sulphur has been sold through the Tehran-based Iran Mercantile Exchange (IME) this week for the first time, market sources said on Thursday.

Iran Petrochemical Commercial Co (IPCC) said it had sold 30,000 tonnes of granular sulphur through the IME at a price of around $44/tonne (€30/tonne) FOB (free on board) for late October shipment from Bandar Imam Khomeini (BIK).

An IPCC official said it was the first time the company had offered any product through the IME, noting that other petrochemicals had also been offered at the same time.

Meanwhile, Kharg Island Petrochemical Co (KHIPC) said it had sold 10,000 tonnes through the IME at $41/tonne FOB for first half October shipment from Kharg Island.

KHIPC said that it had offered sulphur through the IME before, but no business had actually been concluded before now.

Both companies said that the buyers were known traders, which had purchased sulphur from them before.

Expectations were that more tonnes would be offered through the IME in the future, alongside the usual sale methods of sales tenders and private negotiations, the sources from IPCC and KHIPC said.

Market sources said that selling through the IME would likely be attractive to IPCC and KHIPC due to stricter sales terms such as pre-qualification as a buyer and payment in advance of shipment.

($1=€0.68)

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