Japanese trading house Mitsubishi has sold two spot ammonia cargoes at US$330/t cfr to Taiwan and China respectively, marking a significant drop from current pricing levels in Asia-Pacific.
Argus Media states "Taiwanese buyer TFC has secured 15 000 t from Mitsubishi at US$330/t cfr, significantly below the US$340-360/t cfr price assessed by Argus last week. Ammonia importer BASF China has also bought 5000-10000 t from Mitsubishi for delivery to Zhanjiang at US$330/t cfr".
The deals signal a notable softening of the Asian markets this week, driven by global oversupply.
Read the article online at: https://www.worldfertilizer.com/special-reports/28122018/east-asian-ammonia-prices-soften-on-spot-ammonia-cargoes/