Black Sea urea prices rise $5/tonne on healthy demand

02 July 2010 12:01  [Source: ICIS news]

LONDON (ICIS news)--Black Sea urea prices have traded up $5/tonne (€4/tonne) this week on healthy demand and limited supply, traders said on Friday.

Black Sea urea prices maintained their steady upward march this week, due primarily to good demand amid tight supply for prompt shipment, traders said.

Sliding freight rates also played a part in the increasing free on board (FOB) prices.

Ukrainian supplier Dnipro Azot sold 15,000 tonnes to a trader at around $245/tonne FOB for mid-July shipment. Another Ukrainian producer sold 10,000-15,000 tonnes of urea to a different trader at $245/tonne FOB.

Less than 70,000 tonnes of urea were thought to be unsold for July shipment out of Yuzhny, which was supporting the price rise, sources said.

At present, there was healthy demand for Black Sea urea evident in markets including Latin America, Turkey and West Africa, traders said.

Last week, Black Sea urea traded as high as $240/tonne FOB Yuzhny.

Yuzhny is a major port in Ukraine for urea and other fertilizers.

($1 = €0.80)

For more on urea visit ICIS pricing fertilizers
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By: Carl Roache
+44 20 8652 3214

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