STC tender in India at center of market attention

摘要

The May 19 STC tender for an unspecified quantity of prilled and/or granular urea to load by July 5 was at the center of attention this week as producers, traders and endusers struggled to seek added clarity on prompt and forward market development. As had been largely expected, the wider shipment window permitted by STC compared to the narrow MMTC April 25-May 23 window did elicit more aggressive quotes from suppliers, and lowest offers to STC were down by close to $13/mt compared to the MMTC session.