24 July 2008 19:22 [Source: ICIS news]
LONDON (ICIS news) – The ammonia price for August contract deliveries to Tampa has been agreed at an increase of $160/tonne (€102/tonne) over July following a spot sale at the same level earlier this week and higher prices in Yuzhny, market sources said on Thursday.
Supplier Yara said it had agreed the contract price at $745/tonne CFR (cost and freight) with buyer Mosaic.
Earlier this week Yara purchased 16,500 tonnes from Potash Corporation of Saskatchewan (PotashCorp) at the same price for first half August delivery to ?xml:namespace>
Market observers had expected this spot sale to set the tone for August contract discussions.
Latest business in Yuzhny was at $650/tonne FOB (free on board), with freight Yuzhny-Tampa indicated around $90/tonne.
($1 = €0.64)
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