Europe MOP prices rise, more increases likely
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
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)
By: Carl Roache
+44 20 8652 3214
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