Low demand for urea leads to price decline

Due to the continued downturn in demand, there is widespread bearish sentiment in the market. This week, the prices of all nitrogen fertilizers, including urea, ammonium sulfate, nitrate, and nitramine solutions, have declined.

There are almost few urea transactions, and there are some small-scale transactions in Southeast Asia. The main highlights are Mexico and half of Brazil's goods, with prices per ton being 5-10 US dollars lower than last week.

Compared to urea, the decrease in ammonium sulfate and ammonium nitrate was greater, largely catching up with the earlier decline in urea.

Brazil squeezed ammonium sulfate down by $15 per tonne to below $180 per tonne of CFR, while in Europe, ammonium nitrate, calcium ammonium nitrate, and ammonium nitrate solutions fell by 5-10 euros in the new quarter.

market factors

Low demand: Although the overall situation this year is oversupply, the main driver for the market balance in April is insufficient demand, although only a few countries (Russia, Egypt, and Nigeria) are still in supply.

The raw material market is weak: Natural gas prices are far below last year's levels, and the Tampa amino standard price fell by 155 US dollars per ton to CFR435 US dollars per ton this week.