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Asian spot ammonia prices are on an upward trend

September 28/2011

(ICIS) -- Asian spot ammonia prices are on an upward trend, supported by strained availability and healthy demand in the region, industry sources said on Wednesday. Buyers are bracing for further increases as the tight supply situation is unlikely to ease, and with prices in other regions also on the rise. In the week ending 22 September, ammonia prices were assessed at USD 520-550/tonne (EUR 380-402/tonne) FOB (free on board) Middle East and at USD 600-610/tonne CFR (cost and freight) Taiwan, according to ICIS.

The Asian ammonia market is usually tightly linked with ammonia indications in Yuzhny, in the Ukraine, and in Tampa, in the US, given that ammonia can sometimes move between regions if there is a supply shortage in one particular area.

Yuzhny ammonia last traded at USD 588/tonne FOB for October, up $13/tonne from the previous week, and about USD 175/tonne higher than a year ago.

October contract prices in Tampa are also anticipated to see a huge price increase to around the USD 650/tonne CFR Tampa mark, from USD 590/tonne CFR Tampa currently. Contract discussions are expected to be finalised at the TFI conference taking place in Chicago this week.

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