Middle East: Producers hold off pending India

摘要

There were no reports of fresh spot sales of urea from the Middle East over the week following the earlier SIUCI sale at $243/t FOB, and producers are holding off pending definite news of the upcoming tender in India that had yet to be floated by press time. Indications for January positions are above $245/t FOB, but these are yet to trigger sales, and are therefore not included in the range set for non-US netbacks. Traders generally concur that cover below $240/t FOB has not been available, but unconfirmed reports suggest that $238/t FOB may have traded. Some buyers even stated that $235/t FOB had been achieved. These have not been included in the range for the week.