The attention of suppliers, traders and enduser of urea shifted away from almost full concentration on the US market and Chinese supplies to a wider perspective as Indian importer MMTC opted to proceed with the issuance of a tender this week for an unspecified quantity of urea to load by May 23. The move, while awaited, did surprise some observers, as there appears to be no logical explanation for the relatively swift issuance of the tender given substantial Indian inventories. Equally surprising was perhaps the tight shipping window of less than 30 days from tender closing April 25 to the latest shipment date set for May 23. A wider window of 60 or more days would undoubtedly have increased competition for the open business substantially, affording the Indian importer access to lower prices.
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