Asia : CHINA

摘要

As had been expected, substantial quantities of Chinese urea were on offer in the July 21 STC tender. Direct offers from Chinese producers and marketing agents amounted to 180,000 mt, while offers from traders traditionally sourcing urea for India from China were around 400,000 mt, including options. Prices in the direct offers were $35-45/mt above the most competitive quotes from traders. Major downward adjustments will therefore need to be made for volume to be secured. The low offers submitted in the STC session were indicative of netbacks around $475/mt FOB with little or no margin to an intermediary.