Views: 37 Author: Site Editor Publish Time: 2021-12-21 Origin: Site
Prices fall, India tenders
The Brazilian urea market has led to lower prices, and even if the price drops to $830/ton CFR, sellers cannot guarantee off-take. Prices in other South and Central American markets continue to rise, but because demand is generally disrupted, they can only barely maintain.
Later this week, India announced a new tender for urea procurement, but by then, prices had fallen due to generally low buying interest.
As suppliers seek liquidity in a calm market, Baltic and Black Sea urea prices have fallen from last week-Black Sea granular urea prices have fallen below US$800/ton fob, and the Baltic Sea granular transaction price is US$860/ton fob.
Except for India, there are few signs of activity in the Asian urea market. Due to the energy crisis, China's urea exports are still severely restricted, and this situation is expected to continue until this spring.
India's return to the market and the results of next week's bidding will be a driving factor for the urea market in the new year.
The price of natural gas in Europe soared to US$40 per million British thermal units, once again making regional distributors nervous about product supply.
In the upcoming tender, India’s goal is to purchase far more than 1 million tons of urea, but producers in all regions have larger quantities of urea available for sale, and India is unlikely to return to the market after this.
