Urea prices fall on IPL tender – Alert
Urea prices fell as IPL closed a urea tender Dec. 3. More than 2 million mt were offered by 23 companies. The lowest price came from Trammo at an eye-boggling $299.97/mt CFR into Krishnapatnam. A large group of other offers focused on the $302-$305/mt CFR range. The bulk of the offers appear to be from China.
Even as the tally sheets were being completed, sources say IPL awarded about 200,000 mt right away. The company is in the process of preparing its counter bid based on ports of discharge.
Sources expect IPL to take at least 1 million mt in this order.