Yuzhny forward trade reaches record high $400/t

21 November 2007 10:44  [Source: ICIS news]

LONDON (ICIS news)--Forward Yuzhny urea prices have reached the $400/tonne (€272/tonne) barrier for the first time ever, trading sources said on Wednesday.

 

A private and confidential December trade at $400/tonne FOB (free on board) Yuzhny was reportedly traded on the paper market, reflecting the highest ever forward trade.

 

The physical urea market is similarly moving upward with a December trade reported late on Tuesday at $385/tonne FOB Yuzhny.

 

Yuzhny urea prices have consistently firmed in recent weeks, with limited supply and strong demand from the Mediterranean and Latin America supporting the rise.

 

($1 = €0.68)

By: Carl Roache
+44 20 8652 3214

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