Turkish buyers book Black Sea urea at $275-285

30 October 2008 19:15  [Source: ICIS news]

LONDON (ICIS news)--Turkish buyers have booked Black Sea prilled urea in the range $275-285/tonne (€215-222/tonne), helping to prevent a further price slide in Yuzhny, traders said on Thursday.

Over the last week, around 50,000 tonnes of urea have been purchased by a variety of buyers in the range $275-285/tonne FOB (free on board) Yuzhny for prompt/November shipment to Turkey.

Despite weaker sentiment internationally, this buying has helped keep Black Sea prices largely stable over the period and relieved some pressure on inventories.

Black Sea prices ended last week assessed just slightly higher at $280-285/tonne FOB Yuzhny.

($1 = €0.78)

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By: Carl Roache
+44 20 8652 3214

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