Adds table of offers
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.
| 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 | |||
