Sellers trying to push US ammonia above $700

16 July 2008 20:46  [Source: ICIS news]

HOUSTON (ICIS news)--Ammonia sellers in the US Gulf are trying to use higher Ukraine prices to justify August contracts higher than $700/tonne (€441/tonne), a trader said on Wednesday.

“I had heard it was going to be something in the $700s simply because Yuzhny is in the $600s,” the trader said.

The trader confirmed sentiment expressed by buyers and sellers repeatedly during the recent Southwestern Fertilizer Conference in San Antonio, Texas.

Ammonia is trading at $585/tonne CFR (cost and freight) Tampa, according to data from global chemical market intelligence service ICIS pricing. In New Orleans, ammonia is trading at $530/short ton FOB (free on board).

($1 = €0.63)

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By: David Rosen
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