Five companies, all offering Iranian urea, were issued awards by MMTC Aug. 8. The buying house took 420,000 mt for West Coast delivery at $274.80/mt CFR and 292,000 mt for East Coast delivery at $278.95/mt CFR.
One 50,000 mt cargo, from Midgulf is Iranian urea that was shipped to China in July for re-export to Southeast Asian markets.
Industry sources were unclear how India would handle payment for the material awarded considering the U.S. sanctions against Iran. Iranian urea was specifically mentioned as being affected by the sanctions.
See the Aug. 10 issue of Green Markets for more information and analysis of the tender.