Middle East: Spot activity remains subdued

摘要

Regional spot activity remained insignificant this week as most global buyers continued to resort to formula deals for Middle East tonnage. A Brazilian sale suggested completed below $200/mt CFR for returns below $185/mt FOB could not be confirmed with the trader allegedly involved in the deal, but most suppliers do concede that Brazilian buyers are unwilling to entertain offers at or above $205/mt CFR for cargoes en route.