South Korea AS prices rise in latest tender

28 May 2008 11:26  [Source: ICIS news]

LONDON (ICIS news)--South Korean ammonium sulphate prices have jumped over $50/tonne (€32/tonne) in a month on the back of tighter supply, the latest sales tender revealed on Wednesday.

 

A company source from ammonium sulphate producer Capro Corp said it had awarded 65,000 tonnes at a price in the high $350s/tonne FOB (free on board) under its 21 May sales tender.

 

Of this, 40,000 tonnes were sold to traders for southeast Asia while 25,000 tonnes went to traders for Latin America. The cargoes will be shipped in June.

 

This price showed a notable rise from Capro Corp’s previous sales tender on 24 April.

 

Under this, Capro Corp awarded 26,000 tonnes to Korean traders at a price just above $300/tonne FOB. The tonnes will be shipped to southeast Asia.

 

Tight availability following the effective export ban in China and rising urea prices are behind the increase in ammonium sulphate prices.

 

The higher price achieved in South Korea follows similar rises elsewhere, including the Black Sea, where Kuibyshev Azot recently sold 15,000 tonnes of ammonium sulphate to a trader at a new high of $354/tonne FOB for June loading.

 

($1 = €0.64)

 

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By: Carl Roache
+44 20 8652 3214

< previous article(ICIS Podcast: Chemical News Central 2 November 2009)

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