Egypt: Urea suppliers await fresh news from India

摘要

Egyptian urea activity is at a standstill with most suppliers seemingly awaiting news from India regarding a fresh import tender. Demand from Brazil and Europe has so far failed to materialise in earnest after recent holidays. Producers are suggested holding out for future sales at $270/t FOB and above, but netbacks on current Brazilian bids in the low $270s/t CFR are considerably lower.