Yuzhny ammonia prices rise following Gorlovka sales

02 October 2009 12:23  [Source: ICIS news]

LONDON (ICIS news)--Yuzhny ammonia prices have risen by around $30/tonne (€21/tonne) from the last completed business following sales by Ukrainian producer Gorlovka, market sources said on Friday.

Trader Transammonia purchased a total of 25,000-30,000 tonnes from Gorlovka in two lots for October loading, sources said.

There were varied reports on the prices paid for the cargoes, sources noted.

Some sources reported that the first 15,000-tonne lot was earlier purchased at $270/tonne FOB (free on board), while the second was purchased at $290-300/tonne FOB at the end of last week.

Other sources said the average price was around $287/tonne FOB.

The last completed business in Yuzhny was when Odessa Port Plant sold ammonia to Yara at $260/tonne FOB.

Netbacks from shipments to the US were currently reported around $285/tonne FOB Yuzhny, based on the new Tampa October price, which was agreed at $345/tonne CFR (cost and freight) earlier this week. 

Yuzhny ammonia prices had been expected to rise on limited supplies and good demand from Europe and the US, sources said.

($1 = €0.69)

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By: Rebecca Clarke
+44 20 8652 3214

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