31 October 2007 04:42 [Source: ICIS news]
SINGAPORE (ICIS news)--Higher prices in the ?xml:namespace>
“In contrast to the improving SM prices in the
Spot prices in the
Prices at US cents 59/gal translated to $1,300/tonne approximately, a
Taking into account spot freight rates of around $70/tonne, the cargo would land in
“Also, Chinese buyers typically require 90 days of credit which would add another $20/tonne to the price,” a trader said.
In total, the cost to ship US parcels to
Several Chinese traders said
Previous estimates pegged arrivals to China at 50,000-70,000 tonnes for September and 30,000-40,000 tonnes for October while the broad estimate for three months of September to November was anywhere between 200,000 tonnes to 300,000 tonnes. Most of these parcels were said commited for contracts with less than 10% for spot.
A trader in eastern
Another said that some producers in
Other traders believed otherwise, saying that a lot of transhipments take place in
If calculations of arrival volumes are based on large vessels, which typically is the case, then the volume arrived at the Chinese shores would appear less than total estimates, traders said.
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