Bulls gather at Yuzhny;AG still hampered by India contract settlements

摘要

Black Sea ammonia prices have extended the recent bull-run,adding a further 2-3 pt this week.The increase stretches price gains over the last 60 days to around 25 pt at Yuzhny.In contrast,the AG has failed to consolidate on earlier,isolated spot business at 220 pt fob,with exporters again seeing netbacks from Indian contract business held down near 200 pt fob.Recent claims of 230-232 pt fob Iran appear incorrect for 2H October tonnes;these are expected to be priced under a contract formula near the loading dates.