Just a day after the last of the shipments from the last urea tender loaded, MMTC called a tender for more urea. The tender closes July 20, with a ship-by date of Sept. 1.
In the run-up to the tender, sources said MMTC would most likely go for only 500,000 mt to 600,000 mt, rather than the 1 million mt purchased in previous tenders. If true, this means the Indians are targeting the Iranian producers and one or two Arab producers. Traders said Iranian producers can easily handle 500,000 mt in the time allotted. Any extra tons would most likely come from one or two Arab producers.
Chinese product is still too expensive to be considered for this tender.
The last Indian tender set prices at $211-$213/mt CFR. The softness of the general global urea market could lead to lower prices again.
Uralkali has confirmed a new contract to supply potash to China for August-December 2017. While Uralkali has not confirmed the tonnage or the price, sources tell Green Markets the price is $230/mt CFR, up from the prior contract price of $219/mt CFR. The same price has also been told by sources close to the deal to Bloomberg and Interfax.
Uralkali subsidiary, Uralkali Trading has concluded the contract with China’s buying consortium, which includes Sinochem, CNAMPGC, and CNOOC. Uralkali said the deal was done “as per the market level.”
Disclaimer of Warranty
All information has been obtained by Green Markets from sources believed to be reliable. However, because of the possibility of human or mechanical error by our sources, Green Markets or others, Green Markets does not guarantee the accuracy, adequacy, or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information.
For additional details visit our
Terms of Use.
