Shiraz Petrochemical Company (SPC) in Iran had yet to issue awards in the July 23 tender for the sale of 45,000 t granular urea for mid-August loading from Bandar Abbas, according to participants in the tender. Fixed price bids for destinations other than India into the low $230s/t FOB were reportedly not accepted, and the producer now appears more likely to pursue proposals from traders intending to participate in the August 1 MMTC tender in India. The SPC tender did call for bids to cover the upcoming Indian tender to be submitted for the delta between CFR West Coast India as quoted/awarded and FOB Bandar Abbas, with the lowest delta triggering the highest resulting FOB value set to take the award.
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