News
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
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