Higher return claimed by Middle East producer

摘要

Sabic yesterday claimed booking a sale of 30,000 mt granular urea to a US trader at a new high of $260/MT FOB for August shipment. Freight for Brazil is estimated marginally below $30/mt for a delivered cost at about $292-293/mt CFR, well above most recent sales. The cargo may head for Australia. Granular material is scarce in the Middle East, and end-users in key markets might well have to continue to pay up to secure cover.