Middle East: Returns to producers decline on slow market

摘要

Regional producers that had hoped to reap the benefit of attractive returns from more sales by traders into Ethiopia via negotiations with EABC were likely disappointed to find that Egyptian producers moved quickly, securing 150,000 mt of the open business within a 24 hour window. It may of course be argued that the April 3 EABC tender might provide improved netbacks, but OCI/OFT and MOPCO opted for the bird in the hand rather than those on the roof.