India sees new price highs; Chinese buyers offer resistance

摘要

Despite tighter supply out of the Middle East in the first quarter of 2008, the new direction for Arab Gulf producers will be set by the outcome of two Iranian tenders on 23-24 February. Traders and producers are eagerly awaiting news on the NIGC tender of 19 February, and the IPCC tender which closed today, 21 February. In the past six months, Chinese buyers were snapping up Iranian tonnes to feed the very strong demand for DAP and phosphates fertilizers, resulting in the last tender award at $620/t fob Kharg Island. Players are watching closely and many doubting whether a new record will be achieved in February.