13 August 2010 13:56 [Source: ICIS news]
However, the most dramatic rise was seen in the
International trader Fedcominvest was actively bidding and buying at progressively higher prices, prompting other traders to compete at similar levels, market sources added.
Fedcominvest was understood to have booked several cargoes of Ukrainian urea at prices up to $290/tonne FOB (free on board) Yuzhny – the highest reported price since February.
Fedcominvest confirmed it was looking to build a position of 100,000 tonnes or more in Yuzhny against expected demand.
However, Fedcominvest denied reports that it had agreed a deal with Indian Potash ahead of its 17 August purchase tender.
Ukrainian distributor Agrofertrans sold 10,000-20,000 tonnes of urea to a trader, which was not Fedcominvest, at $288/tonne FOB for September shipment.
Earlier in the week, Agrofertrans sold 15,000-20,000 tonnes in the low-$270s/tonne FOB, for shipment at the end of August/early September.
Market sources said demand in
($1 = €0.78)
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.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections