Iran’s PCC sells up to 23,000t ammonia to Mitsui at $420/tonne

30 September 2010 09:51  [Source: ICIS news]

NAGOYA (ICIS)--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)

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By: Gabriela Wheeler
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