US Gulf ammonia price up $19/t on Koch purchase

11 September 2008 18:29  [Source: ICIS news]

LONDON (ICIS news)-- US Gulf ammonia prices have risen by $19.00/tonne (€13.49/tonne) following a spot purchase by Koch amid record highYuzhny numbers, market sources said on Thursday.

Koch purchased a 23,000 tonne Middle East ammonia cargo from Mitsui at $955/tonne CFR (cost and freight) for October delivery to the US Gulf on the Gas Colombia.

The vessel completed loading in Bahrain and Qatar on 8-9 September and was expected to arrive in the US in early October.

This price was up from the $936/tonne CFR last concluded in the US Gulf between Trammo and CF Industries for an early October delivery to Donaldsonville, Louisiana, on the Brugge Venture from Yuzhny.

Supplier sources say the Koch purchase was concluded a couple of weeks ago and that the price was relatively low as Mitsui did not have a destination in India for the tonnes.

Offers into the US Gulf are currently reported at $975/tonne CFR, although no new sale has been confirmed.

This business comes at a time when Yuzhny ammonia prices around $900/tonne FOB (free on board) were at record highs on the back of strong demand and reduced global supplies.

($1 = €0.71)

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

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