India's FACT receives two offers under ammonia tender

17 January 2012 10:57  [Source: ICIS news]

LONDON (ICIS)--Indian fertilizer manufacturer Fertilizer and Chemicals Travancore Ltd (FACT) received two offers under its 17 January ammonia purchase tender, trader sources said on Tuesday.

The lowest offer was submitted by Kuwait’s Petrochemicals Industries Co (PIC) at $460/tonne (€363/tonne) CFR (cost and freight).

Qatar Fertilizer Co (Qafco) submitted an offer at $465/tonne CFR, while Saudi Arabia's SABIC and traders Transammonia and CIFC sent their regrets at being unable to offer.

FACT tendered for 6,000 tonnes of ammonia for 5–8 February delivery to Cochin.

Offers are requested to remain valid until 23 January.

FACT last tendered on 1 November, but the tender was scrapped after the only offer, from PIC at $700/tonne CFR, was considered too high.

Latest prices in India are in the $445–476/tonne CFR range.

However, it remains to be seen whether these lower prices will prompt FACT to make a purchase, said sources.

($1 = €0.79)

By: Rebecca Clarke
+44 20 8652 3214

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