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MMTC Urea Tender Awards More than Expected

May 8, 2019Breaking Industry NewsSteve Seay

Twelve companies were awarded 780,000 mt in the May 1 MMTC urea tender, exceeding earlier estimates of 300-400,000 mt. Arab Gulf producers ADNOC/FERTIL and PIC accepted a lower bid of $271/mt FOB, down from their $277-$278/mt FOB offers for 120,000 mt. The East Coast of India will receive 198,000 mt from traders at $285.70/mt CFR. West Coast ports will get 461,000 from traders at $279.74/mt CFR.

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