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MMTC Issues Urea Awards Totaling 575,000 mt

Breaking Industry News, Urea

Six companies got awards from the MMTC urea tender that closed last week. All told, the Indian buying house will take 575,000 mt of urea between now and Feb. 28. Two producers – ADNOC and MUNTAJAT – will supply 125,000 mt at a reported $278.95/mt FOB, down from the $290-$292/mt FOB they offered in the tender.

The big winner is MidGulf with an award for 300,000 mt against 250,000 mt it offered in the tender. The company set the low price for East Coast delivery at $295.80/mt CFR. AgriCommodities set the low price for the West Coast at 289.80/mt CFR, and got an award for the 30,000 mt it offered at that price.

Going into the tender, sources said MMTC wanted to get 600,000-700,000 mt. After the low numbers for East and West Coast deliveries were revealed, industry sources said the buyer might have to settle for less tonnage because traders may have a difficult time securing the tons at the prices set in the tender. The bulk of the offers were above $290/mt CFR for the West Coast and closer to $300/mt CFR and up for the East Coast.

See the Jan. 25 issue of Green Markets for more details and an analysis of the final tender results.

K+S Expects No 1Q Werra Restrictions

Breaking Industry News

K+S Group, Kassel, said it does not expect any more wastewater-related interruptions at the three sites of the Werra plant in the first quarter of this year.

“The precipitation over the past few weeks has significantly increased the water level of the Werra River again, and as a result, the load on the local retention basins has been relieved to a greater extent,” the producer said.

Production at the three Werra site restarted as planned on Dec. 27, after a planned stoppage from Dec. 24 to Dec. 26.

K+S said it still expects to be able to increase the on-site temporary storage capacity for saline wastewater by a further 400,000 m3 to a total of around 1 million m3.