Views: 5 Author: Site Editor Publish Time: 2023-03-14 Origin: Site
Price decline after purchase restriction in India
As suppliers continue to chase limited demand, most urea market prices fell this week.
India's procurement bidding has not officially ended, but it seems that IPL will order 1.15 million tons of urea at the price of US $330-334.8 per ton. The supply will mainly be obtained from Russian and Middle Eastern producers through traders.
After the Indian bid, the prices in the American market fell, and the prices in the United States and Brazil both fell to CFR320-325 dollars/ton.
Due to the continuous and stable application demand in the spring, the price in Europe is stable, which supports the prices in Egypt and the Black Sea. FOB price is about 390-403 US dollars/ton.
However, relatively high prices in Europe have also attracted supplies outside the region, especially in the Middle East and Nigeria.
At the Argus Asia Conference held in Dubai this week, people were generally pessimistic about the prospects of nitrogen fertilizer prices in the second half of the year, which was mainly based on the obvious structure of oversupply in the urea market.
Market factors
Concern: Importers in several markets are still buying at the last minute, and the quantity of purchase is lower than the normal level, which has promoted the premium of real-time spot in Europe, but the overall market situation is weak.
European natural gas price: although the supply of natural gas in Europe has increased with the decline of natural gas price, the price of fertilizer is close to the marginal profit level again.
