Views: 10 Author: Site Editor Publish Time: 2021-09-27 Origin: Site
Driven by supply, the prices of urea, ammonium nitrate and even urea ammonium nitrate solutions have risen sharply this week.
In addition to Ukraine’s supply cuts, China’s participation in the export market is also under threat now, as participants react to the latest statement of the country’s National Development and Reform Commission.
The price of urea in Egypt continued to rise rapidly this week. Until to the current time, it has increased by US$75/ton to US$600/ton FOB from the beginning of this week.
Granular urea and ammonium nitrate have also become the focus of attention again, as European buyers are competing with sellers in the Baltic and Black Seas for the limited available tonnage.
Market drivers
European factories closed
The economic recovery throughout Europe may further reduce nitrogen fertilizer production in the fourth quarter.
China's export policy
The latest statement from the National Development and Reform Commission has caused sellers to suspend all businesses.
Egypt
Putting small quantities of goods into the market at higher and higher prices encouraged the buying wave
30-60 day outlook
Considerable demand needs to be met in the coming weeks-India, Europe and the United States are all actively seeking tonnage. Given the ratio between nitrogen fertilizer and grain prices, nitrogen fertilizer prices have risen sharply, which may undermine agricultural demand, but it will take several months to penetrate.
