Big rise at Tampa expected as Yuzhnyy keeps going up

摘要

The price to be agreed via the September settlement at Tampa, due next week, is widely expected to increase substantially following rises in the FSU in recent weeks and steady US demand. Tampa could jump by as much as $40/mt from $560/mt CFR in August. The upward trend in FSU prices continued this week with prompt business in the Black Sea at $520/mt FOB, $10/mt higher than last week. It was the third week running that Yuzhnyy has increased. This month's rise of almost $30/mt, from $490-493/mt FOB, is the biggest upward move since April. Maintenance by Black Sea exporters is making the market tighter than it was already.