Gubretas books 6,000 tonnes of Black Sea urea under tender

11 August 2010 14:04  [Source: ICIS news]

LONDON (ICIS)--Turkish urea buyer Gubretas has bought 6,000 tonnes of urea at a reported price close to $280/tonne (€213/tonne), a company source said on Wednesday.

Gubretas closed a tender on 9 August for 6,000 tonnes of prilled urea for August shipment.

After negotiations, it reported booking 6,000 tonnes at a price close to $280/tonne CFR (cost and freight) Turkey including 180 days’ credit.

The company source declined to name the international trader it bought the urea from.

The urea was of Black Sea origin and would reflect a price in the high-$260s/tonne FOB (free on board) Yuzhny, the company source added.

The award illustrates the rising price of urea, as earlier in August, sales in Turkey were completed in the low/mid-$270s/tonne CFR including 180 days’ credit.

Black Sea urea prices have jumped due to a combination of factors including rising grain prices, the higher Ukraine gas cost and this week’s Indian tender announcement, various market sources confirmed.

Yuzhny, Ukraine, is major port for urea and other fertilizers.

($1 = €0.76)

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