Tampa ammonia up $160/t for Aug after spot sale

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 Tampa.

Market observers had expected this spot sale to set the tone for August contract discussions.

Tampa prices had been expected to rise on the back of higher numbers in the Black Sea port of Yuzhny due to tight supply and strong demand.

Latest business in Yuzhny was at $650/tonne FOB (free on board), with freight Yuzhny-Tampa indicated around $90/tonne.

Tampa suppliers had already indicated they would be looking for prices above $700/tonne CFR for August.

($1 = €0.64)

To discuss issues facing the chemical industry go to ICIS connect
For more on ammonia visit ICIS chemical intelligence

By: Rebecca Clarke
+44 20 8652 3214

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.

Printer Friendly