LONDON (ICIS)--Metals and Minerals Trading Corporation of India (MMTC) on Wednesday closed a tender for an unspecified quantity of urea for shipment to ?xml:namespace>
Traders offered a total of 2.06m-2.09m tonnes of urea firm under the tender, while another 780,000-800,000 tonnes were offered on an optional basis.
The lowest offer for west coast
Global Transnational offered 205,000 tonnes firm and 105,000 tonnes optional.
The lowest offer for the east coast was submitted by Continental at $326.75/tonne CFR Krishnpatnam for Chinese origin urea.
Continental offered 65,000 tonnes firm and 65,000 tonnes optional.
The market is now waiting to see MMTC’s reaction to the tender offers later this week, sources said. The buyer may come back with counter bids, ask other traders to match the lowest offers, or possibly decide to purchase from the two lowest offers, they said.