Romania's Azomures restarts Targu melamine plant

12 September 2012 11:12  [Source: ICIS news]

LONDON (ICIS)--Romania-based Azomures restarted melamine production at its plant in Targu, Mures, this week, a source at the fertilizer producer said on Wednesday.

“The plant started on Monday this week,” the source said. “It will take one or two weeks before we are running at 100%.”

The 18,000 tonne/year melamine plant has been out of action since December 2011, when it was shut because of poor buying interest on the back of weakened macroeconomic conditions.

Further confirmation from the producer is pending.

Demand is steady at a low level, but spot prices have risen by €40/tonne ($51/tonne) on the low end because of continued tight supply. Domestic spot prices are at €1,120-1,180/tonne FD (free delivered) NWE (northwest Europe).

Producers are now aiming for €100-200/tonne price hikes in the fourth quarter, because of limited availability, a lack of imports, steady offtake and a need to recover lost margins which have been under pressure from high feedstock urea and ammonia costs.

Third-quarter melamine contracts settled at €1,080-1,150/tonne FD NWE.

($1 = €0.78)

By: Helena Strathearn
+44 208 652 3214

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