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



AddThis Social Bookmark Button

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

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