Saudi Arabia: Sabic granular confirmed sold at $252/t FOB

摘要

Sabic sold a cargo of 45,000 t granular urea for August loading at $252/t FOB late July 27 to an unidentified trader, according to the producer. The price is up by a full $17/t on recent sales from Middle East producers. The sharp increase follows widespread expectation that the latest import restrictions announced by the Indian government may exclude Chinese urea from the July 30 MMTC tender, conceivably rendering India dependent on alternative supply-sources to cover import requirements in excess of 1 Mt/month through the balance of 2020.