Views: 10 Author: Site Editor Publish Time: 2023-02-09 Origin: Site
Driven by the demand of different markets, this year's first price rise was seen in some markets this week.
In February, most of the transactions were concentrated in the sources of goods in North Africa, with the transaction price of 65000 tons of Egyptian large particles at FOB395-410 dollars/ton and 75000 tons of Algerian large particles at FOB400-405 dollars/ton.
The price of urea in the Middle East was mixed. A transaction price provided by Fertiglobe in East Africa was USD 407/ton, but other producers said they were willing to sell it at FOB380/ton.
The import market, especially the United States, Türkiye and Australia, was relatively active, but almost no transactions were concluded. The prices of the United States and Brazil are still under great selling pressure, and the trading price falls to around USD 370/ton.
Asia remained calm on the whole, with few actual transactions. The main progress was that China's export prices fell below the level of the domestic market, which may inhibit China's export volume.
market factors
Seasonality: In response to the expectation of tight supply in February and rising demand and prices in the Northern Hemisphere, traders made up several short positions of urea this week.
The price of urea fell: the sharp fall of the FOB price of urea at the end of January not only affected the urea market, but also brought certain pressure to the urea nitrate solution and ammonium sulfate market, and is affecting these markets.
30-60 day outlook
Instability
With the northern hemisphere market entering the season, February may be stable or even rebound. However, the overall market supply is sufficient, and any slowdown in demand may lead to another weakening of prices.
