M. East: No new spot sales of urea over week

摘要

Middle East producers have not reported any new sales of granular or prilled urea outside contract commitments over the week as offers in the mid-$240s/mt FOB fail to attract firm buying interest. Netbacks from contract business in Asia are suggested up on prior weeks by some producers as highlighted in the separate entry on Kuwait and Bahrain. Returns on cargoes destined for Thailand are however assessed no higher than $238/mt FOB when allowing for costs and a small margin for an intermediary.