Views:3 Author:Site Editor Publish Time: 2020-06-29 Origin:Site
Prices for the last two Russian 16-16-16 sales surfaced this week, which reduced the range of the Baltic/Black Sea FOB prices assessed by Argus and widened the spread. After the details of sales to India announced last week, low-end prices fell by $20/ton to fob $220/ton. The transaction price of 25,000t goods was 249 US dollars/ton CFR India, including 180 days L/C, equivalent to about 244 US dollars/ton CFR cash, and 25,000 tons 20-20-0+13 will be shipped to the west coast at the end of July.
The high-end fertilizer fell by US$15/ton to US$265/ton FOB price. sold 6,000 tons at this price to Mexican buyers and shipped from Muuga with ammonium nitrate in early/mid-July. This reflects the stable price in Latin America since the beginning of 2020. This reflects price stability in Latin America since the beginning of 2020, in contrast to the downward trend in India, where the FOB price of $235 / ton has fallen since mid-April.The regional differences may be due to increased buying in India, stronger bargaining power of buyers and increased competition for supply in the market.
The price is keeping stable and firm in 30-60 days. Higher freight rates will continue to support cfr prices. while FOB prices will stabilize as autumn demand from Eastern Europe increases and purchasing power declines in India.