24 March 2011 11:41 [Source: ICIS news]
LONDON (ICIS)--Indian fertilizer manufacturer Fertilizer and Chemicals Travancore Ltd (FACT) has issued an ammonia purchase tender, the first since November 2010, trader sources said on Thursday.
FACT is tendering for 7,500 tonnes of ammonia for 25-30 April delivery to Cochin.
The tender closes on 29 March and offers are requested to remain valid until 5 April.
FACT last tendered for ammonia in November 2010 but this was scrapped because of problems with downstream production.
This latest tender comes at a time when the ammonia market is tight in the region east of Suez due to unstable production from the newly-started Ma’aden plant in Saudi Arabia, a maintenance outage in Qatar and continued strong demand.
As a result, sources expect offers to be above recent contract business in India, in the $480s-490s/tonne (€340s-350s/tonne) CFR (cost and freight) range.
($1 = €0.71)
For more on ammonia visit ICIS pricing fertilizers
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