Yuzhny ammonia prices rise around $5-10/tonne on last business

22 October 2009 17:21  [Source: ICIS news]

LONDON (ICIS news)--Yuzhny ammonia prices have risen about $5-10/tonne (€3-7/tonne) on last business amid strong demand from the US, Europe and North Africa, market sources said on Thursday.

Traders have bought Yuzhny tonnage for November lifting at $295/tonne FOB (free on board), while buyers in Turkey and Morocco have covered end-October/early November requirements at prices reflecting levels in the $290s/tonne FOB, sources said.

Additionally, Ukrainian producer Gorlovka sold 35,000 tonnes to trader Transammonia for shipment through to the end of the year at a price believed to be $300-302/tonne FOB, they added.

Last business done out of Yuzhny was reported at close to $290/tonne FOB.

Sources also noted that this week’s agreement of the November Tampa price of $355/tonne CFR (cost and freight) was in line with Yuzhny levels at $295/tonne FOB. However, they added that the Tampa price might be considered conservative if further Yuzhny purchases are confirmed above $300/tonne FOB.

Buyers in Turkey and Morocco are already reported to be facing higher prices for additional purchases for November shipment, sources said.

($1 = €0.66)

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By: Rebecca Clarke
+44 20 8652 3214

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