Tampa ammonia price moves up
The Tampa anhydrous ammonia price for November has been concluded at $655/mt DEL, up $15/mt from October’s $640/mt.
All Posts from October 29, 2014
Pakistan calls multiple urea tenders
The Trading Corp. of Pakistan called four urea tenders for a total of 415,000 mt. The tenders are set to close, Nov. 10, 11, 12 and 13. The first three tenders are for 105,000 mt each. The last tender is for 100,000 mt.
The government had earlier authorized import of 300,000 mt. At the time, sources agreed the country needed at least that much urea to close out the current application season. Many in the industry, however, wondered where cash-strapped Pakistan would get the funds for a public tender.
The announcements of the tenders came as the industry is meeting in Singapore at the IFA Asian regional conference.
The TCP tenders are expected to offer a boost to a prilled urea market that gained strength from the STC/India tender that closed Oct. 29.
STC closes urea tender
The STC urea tender closed Nov. 29 with prices higher, but not as high as expected.
Liven came in with the lowest offers of 132-144,000 mt for Krishnapatnam at $308.65/mt CFR and $310/mt CFR for Mundra. Swiss Singapore, with a 60,000 mt offer, had the lowest offer for Pipavav at $311.22/mt CFR. These prices reflect a $3-6/mt increase on prices from the September MMTC tender. Some traders had expected to see most offers in the $310-$315/mt CFR range, with a few even suggesting $320/mt CFR might be breached.
The ship-by date is Dec. 10. Before the tender closed, traders expressed concern about the short time between the closing of the tender and the shipping deadline. Awards and letters of credit will have to be issued quickly, they said, for the product to ship on time.
The rising price of prilled urea plus the potential of port congestion in China led traders to suggest before the tender closed that fewer tons will be offered. In the end, 1.7 million tons of firm offers were made in the tender.
The total tonnage offered in this tender is less than the tons awarded in the MMTC tender just a month ago.
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.
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.