Middle East ammonia producers seek higher prices

09 September 2010 17:31  [Source: ICIS news]

LONDON (ICIS)--Middle East ammonia producers are seeking prices $30/tonne (€24/tonne) higher than last business in new sales amid limited availability and good demand, market sources said on Thursday.

Qatar Fertilizer Co (QAFCO) has been in negotiations this week with a trader, reportedly Mitsui, for a 10,000 tonne spot cargo for October shipment with its target price at $400/tonne FOB (free on board).

However, as yet, there has been no deal concluded.

Meanwhile, Ruwais Fertilizer Industries (Fertil) is also reported to be offering an October cargo at $400/tonne FOB.

Last spot business out of the Middle East was concluded at $370/tonne FOB when Iran’s Petrochemical Commercial Co (PCC) sold a 23,000 tonne late-September cargo to Mitsui.

Middle East spot availability is limited, with the majority committed under contract, while at the same time demand from traders for shipment to the Far East and India is good, sources said.

($1 = €0.79)

For more on ammonia visit ICIS pricing fertilizers

By: Rebecca Clarke
+44 20 8652 3214

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