Amber won the NFL follow-up DAP tender for 50,000 mt to be delivered to India’s West Coast. The winning offer was $339.75/mt CFR with material from China. The cargo will be delivered to either Kandla or Mundra. The award was the final part of an effort by NFL to buy 150,000 mt by October.
The delivered price represents evidence of a steady decline in the Indian import price. However, the netback comes out in the high-end of the current China market. Once credit, freight and other costs are backed off, sources estimated the netback to China at $323-$324/mt FOB.