Views: 29 Author: Site Editor Publish Time: 2022-05-19 Origin: Site
Urea prices have fallen this week, but it seems that the price keep stable because of the India’bulk tender.
RCF's tender to buy 1.5 million tonnes of urea for India closed this week,the prices beyond market expectations - $716.50/t cfr on the west coast and $721.30/t cfr on the east coast.
It seems that producers in most markets are comfortable with price level, traders getting cargoes from Egypt and China in addition to the tonnage normally sourced from the Middle East.
The main problem is how much India is buying now. Market estimates range from 1-1.8 million tonnes, but there will be definite results in the next few days. Trading near the upper end of the range would support continued price stability, and the lower end could lead to weakness in some areas.
Other markets were generally slow - some trade in Europe, weak prices in the Americas, slow activity in Southeast Asia.
Much still depends on the outcome of the tender in terms of origin and committed gross tonnage.
Europe Natural Gas Prices
Nitrogen fertilizer trade in Europe reacts almost daily to changes in spot gas prices as buyers and sellers tighten over supplies.
The outlook for 30-60 days
If India buys the right amount of urea to meet its needs, then short-term supply tightening, the prospects for further decline in urea prices are limited