Views:7 Author:Site Editor Publish Time: 2020-09-22 Origin:Site
The urea market is currently clearly lacking in liquidity. Buyers insist on lower prices, while suppliers are waiting for the next round of bids from India. At the same time, prices continued to fall, and pessimism permeated.
The market demand is insufficient to maintain the current price. If we want to increase sales, we need to lower the price. But many manufacturers had little pressure in October. Western markets such as Brazil and Europe are still the weakest link, and the corresponding FOB prices are gradually being pulled down.
If India holds a tender next week as expected, this will provide the market with focus and pricing will be determined later. If it does not, manufacturers may have to lower their expectations, and the highest level of sales in the year set by India recently will be a thing of the past.
Main market performance
India: The timing of the next tender and the allowable delivery date are critical to determining the October price.
Brazil: Imports are much higher than last year. Suppliers have begun to succumb to the wishes of buyers. The selling price is $260s/t CFR.
Europe: Traditionally, as the main export in the fourth quarter, demand has been sluggish, unable to reach the level of North Africa FOB.