03 April 2008 10:29 [Source: ICIS news]
LONDON (ICIS news)--Indian phosphate fertilizer producers’ provisional agreement with Morocco's Office Cherifien des Phosphates (OCP) for phosphoric acid contracts is for three months rather than the usual yearly contracts, Indian trader sources said on Thursday.
The deal for April-July shipments was concluded at $1,985/tonne (€1,270/tonne) CFR (cost, insurance and freight) with 30 days’ credit, up more than $1,400/tonne on 2007-2008 levels of $566.25/tonne CFR.
It was understood that the shorter contract length reflected the continually higher sulphur feedstock costs faced by OCP and the producer’s consequent reluctance to lock itself into a long-term deal.
($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|