Singapore, 22 June (Argus) — State-owned Pupuk Indonesia has closed a tender today to buy a total of 100,000t of bulk standard caprolactam-grade ammonium sulphate (amsul) for delivery in August to its subsidiary Pupuk Petrokimia Gresik (PKG).
Pupuk Indonesia requested that offers be submitted on a formula price with a variable discount. The lowest offer was around $10/t, market participants said, although this was not confirmed by the companies involved.
PKG has requested five single shipments of 20,000t each to Gresik port, to be delivered on a weekly basis, except in the third week of August where two cargoes are scheduled.
Argus last assessed southeast Asia delivered standard amsul prices at a midpoint of $/t cfr on 18 June.
Amsul prices have been on a downward trend in recent weeks, tracking a weakening urea market.
By Dinise Chng
