18 March 2008 17:29 [Source: ICIS news]
LONDON (ICIS news)--European muriate of potash (MOP) buyers face higher prices and fear further increases could be on the way, market sources said on Tuesday.
German producer Kali and Salz (K+S) recently announced a new price of €365/tonne ($570/tonne) CIF (cost, insurance and freight) for granular MOP spot business in ?xml:namespace>
K+S said ongoing global tightness supported the €20/tonne rise on its previous price.
Major Russian potash exporter International Potash Company (IPC) also recently announced a €60/tonne increase for its east European MOP customers in the second quarter, bringing prices to €360/tonne DAF (delivered at frontier) for standard and €380/tonne DAF for granular MOP.
One west European trader said tight supply, limited competition and healthy demand made it a sellers’ market. As a result, when producers announced new price levels consumers had little choice but to pay.
The source added that further price increases could be on the way.
($1 = €0.64)
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|
Asian Chemical Connections