21 January 2013 14:45 [Source: ICIS news]
LONDON (ICIS)--The benchmark Tampa ammonia contract price has decreased by $18/tonne (€14/tonne) for February on the back of weaker market sentiment, market sources said on Monday.
A decrease had been expected due to weaker market sentiment in recent weeks. Demand from Asia, which had also been supporting prices in the western hemisphere, has dropped back and as such price indications are moving down.
Prices of Ukrainian/Russian ammonia for shipment from the Black Sea port of Yuzhny are also reported to be decreasing.
Unconfirmed reports suggest that February tonnes have been sold in the $580-585/tonne FOB (free on board) range, although suppliers say they are yet to agree February sales and are targeting higher numbers. January tonnes were sold at $600/tonne FOB.
Demand from the downstream phosphates market is also being hampered by weak conditions, sources added.
At the same time, Trinidad ammonia supplies are understood to have slightly improved, with gas curtailments to plants heard to be averaging around 10% this month compared to around 20% during the last few months of 2012.
($1 = €0.75)
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