Indonesia’s PIM sells urea up $25/t at $750/t

14 July 2008 10:58  [Source: ICIS news]

LONDON (ICIS news)--Indonesian state-owned urea fertilizer company Pupuk Iskandar Muda (PIM) has completed a prilled urea sales tender at $750/tonne, a rise of $25/tonne over its last deal on supply shortages, traders said on Monday.


PIM closed the tender for four 10,000 tonne cargoes of prilled urea for August shipment.


Trading company Proferta took all 40,000 tonnes at $750/tonne FOB (free on board).


The next highest bids were from traders Liven and Ameropa at $748/tonne FOB.


PIM’s last sales tender closed on 25 June for 40,000 tonnes of bulk prilled urea and 10,000 tonnes of bagged.


Traders Youngwoo bought 20,000 tonnes, Parna Raya 10,000 tonnes and Trada 10,000 tonnes all at $725/tonne FOB bulk.


A shortage of product in the region and rising international prices were listed as the reasons for the price rise by traders.


For more on urea see ICIS chemical intelligence


By: Carl Roache
+44 20 8652 3214

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