Views:6 Author:Site Editor Publish Time: 2019-03-14 Origin:Site
Low demand continues to weigh on urea prices, and the market lacks support. In the past week, prices have not fallen sharply, in part because buyers are few, but demand is expected to rise in April.
Considering the electoral factors and strong sales in February, India may return to the market soon. Signs from Delhi indicate that the next tenders may be released soon, which will support the price in the Middle East. Oman's urea this week's FOB price is around $230/ton
Demand in the US in April is also very clear. When the FOB price of Nola is close to $230/ton, buyers are ready to enter, which means the lowest price is $250/ton CFR. The offer in Brazil is comparable to the level in April, with only a small amount of sales.
Early bidding will benefit the price in April, especially from the Arabian Gulf. China's urea is not competitive, and Iran's qualifications are uncertain.
Urea demand will be higher in 2018-19 due to higher corn acreage. It is estimated that imports last year were reduced by 3-4%.
Procurement in other places can only be barely maintained, not enough to prevent further deterioration in prices in March.
30-60 days outlook
From weak to stable
The overall price trend of the global urea market is declining in March. A more stable situation may be seen in April, but further pressure may be felt in May.