India’s MMTC closes urea purchase tender

23 September 2010 11:45  [Source: ICIS news]

LONDON (ICIS)--Indian state trading company MMTC has closed a purchase tender for an unspecified quantity of urea, market sources said on Thursday.

Fifteen companies participated, with a total of up to 860,000 tonnes offered firm.

International traders Transammonia submitted the lowest offer for 50,000 tonnes at $346.96/tonne (€260.22/tonne) CFR (cost and freight).

The tender permits both granular and prilled urea. No awards have yet been issued.

Requested delivery is through to 15 November.

The tender offers illustrate how much urea prices have increased in recent weeks.

Under the last Indian urea purchase tender, closed by Indian Potash Limited (IPL) on 17 August, awards totalled 525,000-545,000 tonnes to various traders and sellers at prices ranging $308.00-311.22/tonne CFR.

($1 = €0.75)

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

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.

Printer Friendly