SABIC reduces urea and DAP prices for January 2016
Saudi Basic Industries Corporation (SABIC) [2010.SE] has reduced its local urea price for January to SAR874/tonne (USD233/tonne), according to Argaam from SAR949/tonne (USD253/tonne) previously. SABIC also reduced its diammonium phosphate (DAP) price to SAR2,055 (USD548/tonne), from SAR2,130/tonne (USD568/tonne) previously. The current spot price for urea exported from the GCC is SAR863/tonne (USD230/tonne). (Argaam) SABIC: SAR76.39 as of 3 January 2016, Rating: Buy, FV: SAR100.00 per share, MCap: USD61,112 million, SABIC AB / 2010.SE
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