Morocco: OCP aims even lower for forward ammonia

摘要

Moroccan phosphates giant OCP is seeking additional ammonia for forward delivery and is in discussions with suppliers for August/September positions and beyond. Having targeted and allegedly succeeded in securing cover at $250/mt CFR for the tonnage to be loaded from Yuzhnyy on the Sanko Independence that completed loading from Yuzhnyy July 23, the buyer is now aiming some $5-10/mt lower. Seasoned observers do however continue to express some doubts on the claimed $250/t CFR given the resulting netback to Yuzhnyy suppliers below $220/mt FOB.