Views: 11 Author: Site Editor Publish Time: 2023-12-06 Origin: Site
Due to continuous supply exceeding demand, prices of urea and ammonium sulfate have decreased in almost every market.
The purchasing power of the US market has slightly rebounded, but prices are still under pressure. The price of large particles in Brazil has slightly rebounded from last week's low CFR300 USD/ton, and this week's small batch transaction price is CFR310 USD/ton. The price of Nora in the United States remains stable at FOB300 USD/ton, with light trading volume.
Due to fierce competition between traders and producers, urea prices in other markets have generally dropped significantly, with Southeast Asian markets around $10-15 per ton and Western Europe around $30 per ton.
The price of ammonium sulfate has also fallen, with Southeast Asia experiencing the largest decline. Traders there hope to further establish short positions in Indonesia and the Philippines, while Chinese producers have confirmed lower offshore prices.
market factors
Freight: The spot freight rates in the Atlantic this week, especially for light vessels, continue to soar. Due to both importers and producers attempting to push costs onto each other, the sudden rise in oil prices has caused some businesses to stagnate.
China: The restrictions on Chinese exports have not reversed the overall weakness and bearish trend of the market, but are causing some troubles, especially for industrial buyers with small particle demand.
30-60 day outlook: weak
In the short term, urea prices (especially offshore prices) seem to continue, despite the EU losing some production, China's exports being restricted, and the ongoing war. However, there are still a large number of unsold goods in December.
