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International demand continues to slump, urea prices plummet

Views: 18     Author: Site Editor     Publish Time: 2022-04-13      Origin: Site

Urea prices generally fell this week due to a lack of demand in the international market and sellers forced to seek liquidity.

Brazilian market quotations gradually fell during the week, but it is still difficult to find sellers. The same is true in Egypt, where prices are now below $1,000/t fob for the first time in a month.

Indonesia's bid for granular urea was canceled after the $800/t fob bid was well below the seller's target, although it was later reported that the transaction price for granular urea was around $945/t fob.

U.S. prices fell 15% from last week as sellers tried to sell in a crowded market, but a lack of liquidity was still decisive for most markets.

Demand from India is imminent and, in theory, further expansion in Australia and Southeast Asia markets, but the buy-now-sell buying seems set to continue, so prices will pull back.

sluggish demand

Buyers in almost all markets are on the sidelines, seeking assurances on downstream demand before committing to new business at such prices.

Russia crisis

Despite subdued demand, urea supplies were disrupted in Ukraine and Russia and European gas prices remained high.

30-60 Day Outlook

Despite the weakening trend, the risk of further price volatility remains high.


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