07 February 2011 11:54 [Source: ICIS news]
LONDON (ICIS)--Trading Corporation of Pakistan (TCP) has closed a purchase tender for 225,000 tonnes of urea, market sources said on Monday.
Seven companies submitted offers in TCP’s tender, which closed on Monday, with the lowest by international trading company Swiss Singapore for 100,000 tonnes at $404.30/tonne (€229.18/tonne) CFR (cost and freight).
Swiss Singapore stated the urea will be of Iranian origin.
No awards have yet been announced, but are expected to be in the coming days.
TCP requested prompt shipment.
The tender offers show how far international urea prices have climbed in recent months. TCP’s last tender, which closed 22 July 2010, was awarded at $287.89/tonne CFR.
($1 = €0.74)
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|
Asian Chemical Connections