The state-owned Bangladesh Chemical Industries Corp. (BCIC) called a tender for 100,000 mt of granular urea and 50,000 mt of prilled urea to close Oct. 8. Tender offers must be in lots of 25,000 mt and valid through Nov. 15.
The granular shipments are to be sent to Chittagong and prills to Mongla.
The tender documents specifically banned any re-exported cargo except from landlocked countries. The language appears to be designed to prevent Iranian urea stored in Chinese bonded warehouses from being offered in the tender.
The tender call came after BCIC rejected offers in a tender that closed Sept. 11. In that tender, offers for prills and granular were $365/mt CFR bagged and higher against the previous tender, which settled at $356/mt CFR bagged. Sources said the growing strength in the urea market and the possibility of an Indian urea tender being called soon made the retender move questionable.