Abu Dhabi's state-owned Adnoc has set its April sulphur official selling price (OSP) for the Indian subcontinent at $280/t fob Ruwais, up by a substantial $74/t from its March OSP.
This marks the highest level for the UAE's OSP monthly price since July 2022, when June and July OSP levels reached $485/t fob and $425/t fob, before plunging to $85/t fob in August.
This follows a steady rise in spot prices from mid-2024, with the pace of rises accelerating over the past two months.
Adnoc's April OSP implies a delivered price of $297-298/t cfr India, with the freight cost for a 40,000-45,000t shipment to the east coast of India last assessed at $17-18/t on 27 March.
