Bangladesh urea rises $50-80/t on limited supply

10 June 2008 12:29  [Source: ICIS news]

LONDON (ICIS news)--Bangladeshi urea indications have risen $50-80/tonne in just over a month on limited supply options and firming international prices, Bangladesh Chemical Industries Corporation (BCIC) tender offers showed on Tuesday.

BCIC closed its tenders for 100,000 tonnes of granular urea and 100,000 tonnes of prilled urea on 10 June.

The lowest offer came from trading companies Helm, with 25,000 tonnes of prilled urea at $802.50/tonne CFRLO (cost and freight, liner out) Chittagong, and Bulktrade, which offered 12,500 tonnes of granular urea at $864.40/tonne CFRLO Chittagong.

In BCIC’s last tender, which closed on 28 April, the lowest prilled offer came in at $744/tonne CFRLO Chittagong, and granular at $787.40/tonne CFRLO Chittagong.

The higher values this time round reflect global urea pricing trends, which have risen sharply on the back of the Chinese export ban and large scale buying expected from India.

The increased premium of granular urea over prilled urea illustrates the current flatness of prilled urea in the key Black Sea region, relative to spiralling granular prices in regions such as Egypt.

($1 = €0.64)

For more on urea see ICIS chemical intelligence
For more discussion on the chemicals industry visit ICIS connect

By: Carl Roache
+44 20 8652 3214

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