19 February 2008 13:11 [Source: ICIS news]
LONDON (ICIS news)--Middle East urea producers will refrain from short-term sales to wait for imminent large-scale Indian buying which could cause prices to firm after a period of softer prices, sellers said on Tuesday.
Producers said they were in no rush to sell their tonnage, as the likely return of ?xml:namespace>
“We see no reason to rush into selling second-quarter tonnes,” said one
“Everybody is waiting for
Saudi Arabian producer SABIC was yet to offer its April tonnes, while
The last Middle East spot sales in early February, saw Qatar Fertilizer Co (Qafco) sell 30,000 tonnes of its March product at $407-408/tonne (€277/tonne) FOB (free on board), but international urea price sentiment has since weakened.
Granular urea prices in
“Prices have softened and that level is difficult to get now,” said one
“I do not think it is really possible to get that level now considering the
The producer added that hopefully the market would react to the entrance of
Qafco has 15,000 tonnes to sell of its March availability.
($1 = €0.68)
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