SABIC reduces urea and maintains DAP prices for June
Saudi Basic Industries Corporation (SABIC) [2010.SE] has reduced its local urea price for June by SAR37/tonne (USD10/tonne) to SAR743/tonne (USD198/tonne), according to Argaam. SABIC has also decided to maintained its diammonium phosphate (DAP) price at SAR1,980 (USD528/tonne), the same as May levels. The current spot price for urea exported from the GCC is SAR750/tonne (USD200/tonne). (Argaam) SABIC: SAR82.56 as of 02 June 2016, Rating: Neutral, FV: SAR90.00 per share, MCap: USD66,048 million, SABIC AB / 2010.SE
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