Black Sea urea stable despite Chinese presence

20 November 2008 19:36  [Source: ICIS news]

LONDON (ICIS news)--Black Sea urea prices remained stable at $240-250/tonne (€190-198/tonne) despite the return of Chinese urea to the international market, traders said on Thursday.

Last week’s announcement by the Chinese government, which allowed for more Chinese urea to be exported, was expected to force international urea prices down.

However, Chinese urea offers jumped $25-30/tonne this week to $275-280/tonne FOB (free on board), making them uncompetitive with other origins.

As a result, the key benchmark Black Sea urea price was assessed unchanged at $240-250/tonne FOB Yuzhny.

At the start of the week trades took place at $240/tonne FOB Yuzhny and trended upwards as the week progressed.

The Black Sea port of Yuzhny is a major shipping terminal for urea and other fertilizers. 

($1 = €0.79)

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By: Carl Roache
+44 20 8652 3214

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