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International urea prices fall further, but may be nearing the bottom

Views: 8     Author: Site Editor     Publish Time: 2022-05-13      Origin: Site

This week, the urea deal received the most attention in Europe, as new demand in the region increased, while demand in other regions was notably lacking.

Large tonnages in northern and western Europe are trading at $800-850/t cfr as buyers step in for granular and granular urea. The first "new season" of nitrate prices set by Yara has prompted a sharp rise in the price of urea, a cheaper alternative.

But overall, demand remained subdued, with prices falling for the fifth week in a row.

In the United States, the weather has severely delayed planting; in South America, the market is in between buying seasons. Nola prices fell by around $25/t, while Brazil was confirmed to be trading as low as $740/t cfr.

Asian markets are generally awaiting the results of India's buying tenders to close next week before entering the market in search of new tonnage.

market driven

Indian tender

Some buyers have been making deals ahead of the tender, but many are deferring purchases until after the tender - in the hope that the tender will stabilize prices.

Sanctions on Russia

Following Western sanctions on Russian individuals and entities, Russian producers face significant challenges in accessing some markets, with compliance, financial and logistical functions remaining challenging.

30-60 Day Outlook

Next week's Indian tenders are expected to set the stage for the market, as buyers in many regions appear to be stepping in for more tonnage. But supplies are plentiful and India's tenders are likely to be slightly lower than last month's levels.




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