Black Sea urea prices soften by $5/tonne

04 December 2008 18:35  [Source: ICIS news]

LONDON (ICIS news)--Black Sea urea prices have softened $5/tonne (€4/tonne) on the back of a limited demand, traders said on Thursday.

Trades took place predominantly in the range of $230-235/tonne FOB (free on board) Yuzhny this week, down $5/tonne at the top end from last week.

Traders bought tonnage to cover sales to Asian markets, notably Pakistan and Vietnam, as well as Turkey, where demand remains strong.

Latin American markets remain quiet.

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
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