India: Demand still firm; PPL gets product in swap

摘要

Indian demand remained firm, with prices pegged mostly in the $65-70/mt CFR range. PPL reportedly obtained a cargo from Japan, with prices reported in the $50s/mt CFR, surprising many market participants. However, one source suggested the deal was a swap whereby the consumer will have to resell the same volume to the seller at the same price at a later date.