Asia CHINA

摘要

Urea deliveries to ports for export from July 1slowed over recent days. Confusion on the inclusion of tax(or not) in the RMB 2,100/mt FOB base price for ureaprevails, but quantities recently exported from bondedwarehouses are taxed with the base price inclusive of thetax element. The General Administration of Customs willonly act on the suggested change if instructed to do so bythe Customs Tariff Commission, according to local sourcesThe domestic market is down on last week with offers atRMB 1,930-1,950/mt FOT ex factory gate, but the majorityof sales concluded were at RMB 1,900-1,930/mt FOT. Thelow end of the range is indicative of $335/mt FOB forexport, inclusive of 7% tax based on existing regulations.