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Supply exceeds demand, international urea prices fall

Views: 21     Author: Site Editor     Publish Time: 2022-01-11      Origin: Site

Since traders find liquidity for North African manufacturers, European prices have fallen sharply, and the price of Western Europe and Mediterranean has been near to $ 900 CFR.

The Volatility in the United States is very large - the price has fallen $ 95 / ton on Wednesday, and then rose $ 105 / ton on Thursday morning - but the trend in other places is generally weak.

Prices in Brazil fell to $820/t cfr, while demand from the rest of Latin America was minimal until March.

Urea prices fell following a broad correction at the start of the year because Indian not have demand in the coming months.

The FOB price from producers are below $850/t and almost all buyers are waiting further corrections due to large unsold cargo in January in Algeria, Egypt, Nigeria and the Middle East.

Market driver

natural gas price

Though urea price become weekness,Europe faces a long-term rise in natural gas prices, which provides support for regional nitrate prices in the short term. With the continuation of this circumstance, China faces high costs of importing LNG and is unlikely to ease urea export restrictions.

Downturn

None of the major markets showed much buying interest, as Europe and the U.S. have shown this week, chasing demand leading to lower prices.

30-60 days

Importers, manufacturers and traders are all very nervous, and the time in January is still very long.


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