Views:5 Author:Site Editor Publish Time: 2020-04-20 Origin:Site
India, U.S. markets remain unchanged in April
This week, urea prices in Western countries have declined, with Brazil trading at $ 236 / tCFR and Egypt trading at $ 237 / tFOB, both of which are $ 4-5 / t lower than the previous price. The US market remains strong and Indian shipments support Asian prices, but most producers have spot tonnage available for sale in May, some of which are already open.
Buyers face an uncertain market and wait to book at the last minute, thus forming a quiet market atmosphere. The FOB in June in the Middle East and Egypt was US $ 220 per ton, and this lower level of paper transactions has increased the pressure on spot prices.
Freight is beneficial to suppliers. The urea transportation fee for the Middle East-Brazil has been reduced to around US $ 12 per ton for 40,000-ton ships, while the 25,000-ton ship for northern China and the west coast of Mexico is approximately US $ 13 per ton.
United States: Spot / May prices in the first half of the year are still attractive to suppliers, but prices have dropped significantly in June. US support is coming to an end.
Brazil: Limited demand has led to positive offers, as suppliers are looking for urea to ship in the market in May, and this trend may continue.
India: The reduction in Indian factory production has increased demand for imported urea. The new bidding is expected to take place at the end of April / early May.
Stable market conditions will end in April, and prices in May and June are expected to decline.