Views: 8 Author: Site Editor Publish Time: 2022-10-27 Origin: Site
The price in the East is firm due to the India mark, but the West is weak
Because India's procurement bidding absorbed some quantity in the market, the urea price in the east of Suez was firm, but due to the price drop in Europe and the Americas, the urea price in the west was weak.
India IPL has ordered about 1 million tons of urea at the price of 649.48-655 US dollars/ton, and plans to order 1.5 million tons before the end of this week.
However, the price in North Africa (Egypt) fell by US $60/t this week due to the manufacturer's reduction in price to ensure liquidity.
In Europe, subsidies, discussions on price ceilings and the recent sharp drop in prices have increased the supply of nitrogen and reduced buyers' sense of urgency. Polish and Bulgarian producers re-produce this week, offering prices lower than the previous market levels. However, most factories are still in a state of shutdown, and the gap of nitrate supply is still growing.
market factors
European activities
The interest of most European importers in purchasing new urea goods has declined, which has depressed the urea price in the region this week. However, given the shortage of supply, it should support the price when demand arises.
Large scale of bidding
The bidding demand from India is tightening the supply of main regions, but the timing of Pakistan and Ethiopia's demand for 1.2 million tons of urea has brought great uncertainty to the balance in the fourth quarter.
The outlook for 30-60 days
European buyers will wait as long as possible before committing to buy new urea, which weakens the market. Otherwise, the market will only face weak demand from other regions. However, importers hope to obtain large tonnage of urea before spring,so the market is expected to rebound significantly.
