MMTC Urea Tender Awards Mark Lower Prices

Sources reported about 600,000 mt has been awarded in the MMTC urea tender that closed July 20 at prices about $5/mt lower than the previous tender.

Nine companies are slated to receive awards totaling about 600,000 mt. Of that amount, 120,000 mt are designated for East Coast ports at $208.75/mt CFR. West Coast shipments – about 480,000 mt – are priced at $203.06/mt CFR to $203.60/mt CFR.

Another tender is not expected until after the ship-by date of Sept. 1.

The prices in the tender were not as low as industry sources expected. One trader said, however, the price confirms a steady trend downward for urea.

See the July 28 issue of Green Markets for more details and analysis of the tender.