Trading Corp of Pakistan awards 50,000 tonnes under urea tender

07 July 2010 14:33  [Source: ICIS news]

LONDON (ICIS news)--Trading Corp of Pakistan has awarded 50,000 tonnes of urea to a trader under its latest purchase tender, market sources said on Wednesday.

Only four companies submitted offers in the tender, which closed on 5 July, according to sources.

The lowest offer came in from Switzerland-based trader Transammonia for 50,000 tonnes at $291.87/tonne (€230.58/tonne) CFR (cost and freight), but the offer restricted delivery to the port of Gwadar, sources said.

As a result, sources said Trading Corp subsequently awarded the next lowest offer, which came in from Germany-based trading company Helm for 50,000 tonnes, at $292/tonne CFR.

Helm is expected to supply the urea from China during July, sources added.

International urea prices have increased steadily in recent weeks. This was reflected in Trading Corp’s latest tender award, which is a sharp increase from the $253.77/tonne it awarded under its previous purchase tender.

($1 = €0.79)

For more on urea visit ICIS pricing fertilizers
To discuss issues facing the chemical industry go to ICIS connect

By: Carl Roache
+44 20 8652 3214

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