Views: 9 Author: Site Editor Publish Time: 2020-04-27 Origin: Site
Cliff edge
The support from the strong demand in April for the urea market is now basically over, and the prices in May and June are on the edge of the cliff. Vendors are trying to sell, but traders are only trying to make up for short sales, and ultimately there are few buyers, and they are very cautious.
After panic in the oil market, US prices fell on Tuesday and rebounded to $ 250-253 / ton cfr in the middle of the week. Egyptian producers had a good week. In May, they sold nearly 100,000 tons at an offshore price of US $ 232 / ton, but there were still more than 200,000 tons of inventory in that month. Ukrainian granulated urea is now available, with an FOB price of US $ 210-215 / ton in May.
India's bidding is urgently needed to provide exports for Asia's May spot tonnage. In other places, lower energy prices are playing a role in the entire system, the industrial demand for urea has declined, more urea has been pushed to the agricultural market, and trade financing has become a problem.
Before some export supplies are squeezed out of the market, prices will continue to fall.
