The Trading Corp. of Pakistan closed its third tender in as many weeks. The most recent tender showed prices up a couple of dollars from the last tender.
Transammonia came in with the lowest offer of $311.71/mt CFR for 150,000 mt.
The previous two tenders each garnered 75,000 mt. This last tender finishes the amount called for by the government. The first tender in the series was awarded at $327.23/mt CFR and last week’s tender was at $309/90/mt CFR.
The latest price, while higher than the last deal, still provides a netback to China just under $290/mt FOB.
Before the tender closed, sources said even if all 150,000 mt needed by Pakistan were offered and awarded, the quantity is not enough to move the global urea market out of its doldrums.
See the Green Markets Web Edition Aug. 9 for more details on this tender.