Egypt: No new spot granular sales so far in week

摘要

There are no new spot sales of granular urea reported over the week, but an additional contract cargo was booked by MOPCO for H1 July loading to be priced via formula. Producers and traders holding prior length/contract volumes for June loading will be eying the June 10 EABC tender in Ethiopia with keen interest. Competition in the tender will be limited due to prior commitments on the part of suppliers, and prices are predicted sufficiently high to provide netbacks well above prior sales of June positions at $271/t FOB.