Saudi Arabia's SABIC sells 38,000 tonnes ammonia at $530/tonne

07 February 2013 09:27  [Source: ICIS news]

NAGOYA (ICIS)--SABIC has sold a 38,000-tonne ammonia cargo to trader Transammonia at $530/tonne (€392/tonne), a source at the Saudi Arabian petrochemical giant said on Thursday.

The price on a free-on-board Saudi Arabia basis was $90/tonne lower compared with a previous deal concluded in the Middle East in the week of 31 January.

The Saudi cargo is expected to be loaded on the ship BW Helios on 11 February and is bound to the US,  market sources said.

Spot prices may have declined because of increased ammonia availability amid an ongoing turnaround at a huge diammonium phosphate (DAP) plant in Saudi Arabia.

The 3m tonne/year DAP unit owned by Ma’aden Phosphate Co is on a three-week turnaround that will end on 18 February.

Ammonia is one of the feedstocks for DAP production.

SABIC is in charge of marketing MPC’s ammonia production.

($1 = €0.74)

By: Gabriela Wheeler
+65 6789 8828

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