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NFL urea tender acceptances total 1.17mn t: Update

  • Market: Fertilizers
  • 04/09/24

Adds table and breakdown of tender acceptances

Indian fertilizer importer NFL is in line to buy up to 1.17mn t of urea under its 29 August tender.

For the east coast, 10 firms appear to have agreed to supply just over 730,000t of urea, while two suppliers have committed to delivering 440,000t to the west coast.

Suppliers had until 16:00 IST (11:30 BST) today to accept NFL's counter of $340/t cfr west coast and $349.88/t cfr east coast.

Ameropa submitted the initial lowest offer of $349.88/t cfr and is set to ship the most to the east coast, at just over 136,000t. Aditya Birla and Sun International have accepted 100,000t and 95,000t, respectively. The full breakdown of acceptances is listed in the table below.

Meanwhile, Fertistream has accepted 40,000t of urea for the west coast, and OQ will ship 400,000t to the west coast after it submitted the lowest offer at $340/t cfr.

The prices are set to weigh most heavily on Russian fob prices, with east-of-Suez origins less affected. Netbacks from India broadly reflect urea in the mid-$280s to $290/t fob Baltic spanning both coasts, marking a sharp drop from prices for prilled urea at $295-310/t fob last week.

Prices out of the Middle East equate to $323-330/t fob for both coasts, a slight softening from last week's price of $325-335/t fob. Potential southeast Asian netbacks would be around $325/t fob to the east coast, if accepted, down from the granular urea assessment of $330-335/t fob last week.

NFL 29 August urea tender acceptancest
SupplierEast coastWest coastTotal
Sun International95,00095,000
Midgulf International45,00045,000
Agricommodities (ETG)49,50049,500
RE Energy
Fertistream80,00040,000120,000
Dreymoor
Ameropa Asia136,300136,300
Indagro
Continental
Samsung45,00045,000
Aditya Birla100,000100,000
PIC
Hexagon
OQ Trading400,000400,000
Coastal Chemical90,00090,000
Koch
Keytrade
Macrosource
Medallion
Alkagesta
Agrifields40,00040,000
Sabic50,00050,000
Total730,800440,0001,170,800

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03/10/24

Indonesia’s Ni expansion via HPAL could face challenges

Indonesia’s Ni expansion via HPAL could face challenges

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Offers total 2.57mn t of urea in RCF tender: Update 2


03/10/24
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03/10/24

Offers total 2.57mn t of urea in RCF tender: Update 2

Adds table of offers Amsterdam, 3 October (Argus) — Indian fertiliser importer RCF closed its tender to buy urea today, with 21 suppliers offering a total of 2.57mn t across both coasts. There were 20 offers for the east coast for a total of 1.37mn t and 17 for the west coast for 1.2mn t. Trading firms Agricommodities/ETG and Midgulf offered the largest quantities, submitting 150,000t each for both coasts ( see table below ). The quantities offered include the usual double- and triple-counting of volumes available to trading firms. There were 22 valid offers totalling 3.87mn t under the previous Indian tender on 29 August, which eventually saw just 1.13mn t bought. Most expectations before the tender's close had been for prices around the $370s/t cfr west coast and above, having risen higher over the week as tensions in the Middle East roiled the urea market. Prices offered will emerge in the coming days. RCF requested offer validity until 14 October and cargoes to ship from load ports by 20 November. By Harry Minihan RCF 3 October urea tender quantities t Supplier East coast West coast Total Agricommodities/ETG 150,000 150,000 300,000 Midgulf 150,000 150,000 300,000 Dreymoor 50,000 50,000 100,000 Sun International 50,000 0 50,000 Samsung 76,500 76,500 153,000 Sabic 100,000 100,000 200,000 Fertistream 47,500 0 47,500 Medallion 50,000 50,000 100,000 Ameropa 52,400 52,400 104,800 Agrifields 40,000 0 40,000 Fertiglobe 45,000 45,000 90,000 Indagro 45,000 45,000 90,000 Alkagesta 45,000 45,000 90,000 Koch 47,500 47,500 95,000 Macrosource 45,000 45,000 90,000 Aditya Birla 100,000 100,000 200,000 Continental 100,000 100,000 200,000 Liven 30,000 50,000 80,000 OQ 100,000 0 100,000 Hexagon 50,000 50,000 100,000 Keytrade 0 40,000 40,000 Total 1,373,900 1,196,400 2,570,300 Market sources - subject to confirmation Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

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03/10/24

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Tampa molten sulphur price rises for 4Q


02/10/24
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02/10/24

Tampa molten sulphur price rises for 4Q

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Urea futures slightly firmer on Middle East tensions


01/10/24
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01/10/24

Urea futures slightly firmer on Middle East tensions

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