15 February 2008 13:21 [Source: ICIS news]
LONDON (ICIS news)--Major Russian potash exporter International Potash Company (IPC) has announced a $45/tonne (€31/tonne) price rise for deliveries to southeast Asia effective from April and until further notice, a company source said on Friday.
This rise takes prices to a record high of $575/tonne CFR (cost and freight) for the region.
IPC had previously sold standard MOP (muriate of potash) to southeast Asia at $500-530/tonne CFR for first quarter deliveries.
The announcement comes at a time when demand for potash remains strong and supply tight, with the market is experiencing a supply deficit of 1.5-2m tonnes.
The move follows recent sales by Belarusian Potash Company (BPC) at $550/tonne CFR to ?xml:namespace>
North American supplier Canpotex had previously announced a price of $525/tonne CFR for second quarter deliveries to southeast Asia, up $100/tonne from its first quarter price.
Southeast Asian prices were assessed at $215-220/tonne CFR in mid-February 2007, according to global chemical intelligence service ICIS pricing.
($1 = €0.68)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|