Urea: MMTC receives offers for 2.4m. tonnes with lowest offers $5-7pt above previous tender

The lowest offers received in today’s urea purchasing inquiry by MMTC are some $5-7pt higher than lowest offers in the first half October RCF tender. Through the latest tender, MMTC intends to book cargoes for shipment through to 6 January 2021. 13 participants submitted offers totalling 2.434m. tonnes in the inquiry, well below the volume…

Pivotal week for urea as market prepares for India’s return

Liquidity returned to the global urea market this week with producers in North Africa and SE Asia, and to a lesser extent the Middle East, committing significant volumes. Many producers in Egypt are now heavily committed for December. Demand has been driven by India’s anticipated return to the market. The world’s largest importer of urea…

India offered record 3.6m. tonnes of urea in latest RCF purchasing tender

Over 3.6m. tonnes of urea were offered in India’s latest purchasing tender which closed today, volumes that are understood to have set a new record. Although significant double counting is likely, the volume offered remains considerably higher than what was offered in most recent inquiries. Since April, the average volume offered has been just below…