Egypt's NCIC issues phosphates sales tender

Egyptian phosphates producer NCIC has issued a tender to sell 30,000t of DAP and 27,000t of 19pc SSP, closing 30 October.

The cargoes will be ready for loading by the end of November. NCIC did not list urea under this latest sales tender, having offered 10,000t under its 28 September enquiry. There was no comment from NCIC.

Phosphates prices have remained stable to firm in the month since NCIC's last sales tender, except for SSP cfr prices in Brazil. Bid interest for 19pc SSP has dropped to around $190/t cfr or below for delivery in the first quarter of next year, down from indications at $200/t cfr and above at the end of September. But no new deals have been confirmed at this lower price, with suppliers deeming it unworkable, with fob Egypt levels indicated around the $190s/t.

By Harry Minihan