17 November 2008 11:18 [Source: ICIS news]
LONDON (ICIS news)--Indian company Rashtriya Chemical & Fertilizers’ tender for 15,000-20,000 tonnes of phosphate fertilizers has solicited offers totalling more than 100,000 tonnes, highlighting the length of the current market, trader sources said on Monday.
The tender, for 15,000-20,000 tonnes of diammonium phosphate (DAP) for local blended fertilizer production, which closed on Friday 14 October, received six offers totalling nearly 120,000 tonnes.
Prices were not revealed but trader sources said prices were reported around $680-690/tonne CFR (cost and freight).
These prices were considered in line with current international prices as offered in the latest tender in ?xml:namespace>
This was due to the combination of the global economic recession and a lack of demand in key markets such as
In the RCF tender, traders Gavilon (open origin) and Keytrade offered the precise amount, the latter possibly sourced from the
Trader company Ameropa offered 20,000 tonnes of Russian MAP while Saudi producer Sabic offered 20,000 tonnes of DAP.
Delivery was variously for late November or December shipment.
RCF has a poor record in buying product following its tenders due to financial constraints, and traders doubted whether it would buy this time.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|