CHINA: Chinese producers and international traders appear set to conclude a total of 530,000 mt urea via the August 17 IPL tender in India. The sales will substantially reduce port inventories, assessed at 500,000 mt at Yantai, 200-250,000 mt at Qinhuangdao, 100,000 mt at Bayuquan plus smaller quantities at other ports, adding up to a total of close to 1 million mt. Sinochem/Sinofert is expected to supply its 55,000 mt sale to India from its own urea plant in Shandong. About 200,000 mt from the inventories assessed above were presold to traders, including Transammonia ahead of the IPL tender at prices ranging from $258/mt FOB to $265/mt FOB.
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