TCP Pakistan closes 50,000 tonne urea purchase tender

27 July 2012 13:44  [Source: ICIS news]

LONDON (ICIS)--Trading Corporation of Pakistan (TCP) has closed a purchase tender for 50,000 tonnes of urea on 27 July, with the lowest offer $7/tonne (€5.67/tonne) below its last purchase, trader sources said on Friday.

The lowest offer was submitted by trader Keytrade at $419.39/tonne CFR (cost and freight) for 50,000 tonnes of open origin urea.

There were a further eight offers, with prices ranging between $419.57/tonne and $447.39/tonne CFR.

An award is expected to be made to Keytrade, but this has not yet been finalised.

TCP last purchased 50,000 tonnes of urea from trader CHS at $426.39/tonne CFR under its 12 July tender for 100,000 tonnes.

An award under the 27 July tender will complete TCP’s buying programme, traders said.

Initially TCP tendered for 300,000 tonnes of urea on 21 May and purchased 100,000 tonnes.

Another tender was held on 25 June for 200,000 tonnes of urea, under which another 100,000 tonnes were acquired.

($1 = €0.81)

By: Rebecca Clarke
+44 20 8652 3214

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