Iran’s PCC sells up to 23,000t ammonia to Mitsui at $420/tonne
30 September 2010 09:51 [Source: ICIS news]
NAGOYA (ICIS)--?xml:namespace>Iran’s Petrochemical Commercial Co (PCC) sold 15,000-23,000 tonnes of ammonia for late October lifting to Japanese trader Mitsui at $420/tonne (€307/tonne) FOB (free on board), market sources said on Thursday.
The price was $10/tonne higher than the last concluded sale out of the Middle East amid limited supply and healthy demand, they said.
From Qatar Fertilizer Co (QAFCO), Mitsui bought a spot cargo for mid-October loading at $410/tonne FOB on 16 September, sources said.
Middle East ammonia prices had risen by $50/tonne since mid-September due to limited availability, with majority of the supply committed under contracts, they said.
The shutdown of PCC's Pardis I ammonia and urea unit since August due an explosion had exacerbated the tight supply situation amid robust demand from Korea, Taiwan and southeast Asia, sources said.
($1 = €0.73)
Please visit the complete ICIS plants and projects database |By: Gabriela Wheeler+1 713 525 2600
To discuss issues facing the chemical industry go to ICIS connect
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.