Trading Corp of Pakistan closes 100kt urea purchase tender

22 July 2010 10:52  [Source: ICIS news]

LONDON (ICIS news)--Trading Corp of Pakistan (TCP) has closed a purchase tender for 100,000 tonnes of urea, market sources said on Thursday.

Eight companies submitted offers in TCP’s tender, which closed on Thursday, with the lowest submitted by international trading company Transammonia for 50,000 tonnes firm and 50,000 tonnes optional at $287.89/tonne (€224.55/tonne) CFR (cost and freight), sources said.

No awards have yet been announced, but are expected imminently, sources added.

Transammonia stated open origin, but if awarded, is expected to supply Omani urea due to its close proximity.

Based on the offers, prices have softened slightly from earlier in the month as under its last tender, which closed on 5 July, TCP awarded German traders Helm 50,000 tonnes at $292/tonne CFR.

($1 = €0.78)

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By: Carl Roache
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