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)
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