Views: 14 Author: Site Editor Publish Time: 2021-05-26 Origin: Site
Most urea prices rose more than US$10 per ton this week. It seems that the US and European markets maybe will continue to buy urea in the third quarter to compete with the seasonally active Indian and Latin American markets.
North African prices soared,in this week, the FOB price in Egypt rose from US$370/ton to US$400/ton, and the FOB price in Algeria rose to a high price at US$380/ton. Traders prepared for the need from Latin America and France.
The FOB price of urea in east of Suez in the Middle East rased from US$361/ton to US$373/ton, while China’s austerity pushed prices rise by approximately US$20/ton from last week.
Although several major consumer markets are competing for the goods, there is little sign of relief.
Argentina: Strong demand in Argentina and Uruguay drove the increase in prices in Egypt this week, despite the fact that four traders competed to sell and caused price volatility.
Freight: Transportation costs have risen further this week, and traders expect prices will countine to increase, which may continue to affect the prices.
China: With the limited spot supply of goods in June from other sources, the goal and ability to support India's next tender will be crucial.
