18 October 2013 20:12 [Source: ICIS news]
HOUSTON (ICIS)--The benchmark Tampa ammonia contract has settled at $480/tonne CFR (cost & freight) for November loadings market sources said on Friday.
The settlement between Oslo-headquarter fertilizer giant Yara and its customers was agreed at a $10/tonne decrease from the October price level of $490/tonne CFR.
Initial market sentiment this week was that the contract could be potentially looking at a rollover for November but with demand relatively steady and more supply being available with the restarting of production in the Black Seas and Trinidad sources said the market was heading for some possible correction downward.
A producer source said Friday that when viewing the current supply and demand situation and the slight concerns over the ongoing delay in refilling purchases for North American fall applications that dip in pricing is in line with overall market conditions.
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