Black Sea urea trades in wider range of $240-245/tonne

19 November 2009 20:11  [Source: ICIS news]

LONDON (ICIS news)-- Black Sea urea prices have traded in a wider range of $240-245/tonne (€161-164/tonne) this week, with traders expecting improved demand ahead, market sources said on Thursday.

Despite few sales, Black Sea urea prices stayed firm due to expectations of demand from India and Brazil, traders said.

Ukrainian urea traded this week in a range of $240-245/tonne FOB (free on board) Yuzhny for December.

Last week, spot prices were pegged at $241-243/tonne FOB Yuzhny.

Looking ahead, India is expected to return to the market in December to buy around 500,000-600,000 tonnes of urea, while Brazil is also expected to re-enter the market.

This demand will likely support Yuzhny prices going forward, traders said.

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

($1 = €0.67)

For more on urea visit ICIS pricing fertilizers
To discuss issues facing the chemical industry go to ICIS connect

By: Carl Roache
+44 20 8652 3214

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly