31 January 2012 12:04 [Source: ICIS news]
LONDON (ICIS)--India-based fertilizer manufacturer, Fertilizers and Chemicals Travancore Ltd (FACT), has issued a sulphur purchase tender on the back of falling Indian spot prices, a trader source said on Tuesday.
FACT has tendered for 25,000 tonnes of granular sulphur for 8-12 March delivery to ?xml:namespace>
The source added that the tender will close on 7 February, with all offers requested to remain valid until 13 February.
The purchase tender came at a time when Indian spot sulphur prices are declining.
The last purchase was by IFFCO (Indian Farmers Fertiliser Cooperative) concluded at $186/tonne ($141/tonne) CFR (cost and freight) in early January.
Price indications have dropped further since, demonstrated by the lowest offer submitted under the 27 January purchase tender by Paradeep Phosphates Ltd (PPL), understood to be in the $180-185/tonne CFR range.
Recent falls in sulphur prices are caused by weaker downstream phosphate fertilizer demand expected for the first quarter.
($1 = €0.76)
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