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Slow demand, weak urea

Views: 13     Author: Site Editor     Publish Time: 2023-05-25      Origin: Site

Urea prices have declined this week generally , but only slightly. Short term supply remains tight, but buyers have refused to accept a large number of forward transactions.

The transactions were mainly concentrated in the American market and Türkiye this week.

Supported by timely demand, US prices are still rising, but the main price of barges in June fell by $15/ton to $285/ton FOB Nora, indicating that US importers do not need to purchase more goods.

Buyers from Mexico and Central America are seeking goods for their west coast, and although shipping costs still high, Russia's supply is competitive again.

Brazil's prices have fallen in sporadic trade from $320 per ton in CFR314 per ton.

The price of small particle and large particle urea ordered by Türkiye's importer is CFR350 US dollars/ton and CFR365 US dollars/ton respectively, which will be shipped from Egypt in the middle of June.

 The market factors

The feasibility of China's exports: The relaxation of export controls and the weakness of domestic demand mean that traders are increasingly confident in short selling in June, thereby lowering CFR prices.

Seasonal demand: There is still a demand for immediate goods, and prices in many markets at the front of the curve are still high.




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