$200/mt CFR in sight; Adnoc declares Feb at $165/mt FOB

摘要

The market is fast approaching $200/mt CFR, based on offers submitted in RCF's tender, which closed today. The highest offer was $215/mt CFR, although the lowest was $173/mt CFR. In China, buyers are digging in their heels at the $150/mt CFR level, and indicating that production cuts would be preferable to paying higher prices.