The sale of 30,000 mt of granular by Pusri failed to meet the floor price while two prilled cargoes of 10,000 mt found buyers. Pusri had set a floor of $390/mt FOB for the Kaltim granular material. Buyers refused to move past that level, leaving Pusri no choice but to scrap the auction.
The prilled cargoes, however, did find buyers. The first 10,000 mt went to Trada at $389/mt FOB from a floor price of $380/mt FOB. The second lot went to Liven at $399.75/mt FOB. Pusri had moved up the floor price on this lot to match the Trada level. The prices ensure the tons will not be used to cover any offers made in the IPL/India tender. Sources had expected the winners to use the tons to service smaller regional buyers.
The granular tons not sold will most likely be offered again within the next week or so.