Views: 8 Author: Site Editor Publish Time: 2023-03-22 Origin: Site
As demand remains insufficient to balance the market, urea prices in other regions except the United States have fallen again.
Due to spring demand and short covering by traders, prices in the US Gulf region rose to CFR $360 per ton, but prices in other regions fell sharply.
Transaction prices in Brazil and Central America fell by $10-20 per ton compared to last week, particularly hitting producers in Algeria, Russia, and the Middle East.
India's IPL confirmed the purchase of 1.1 million tons of urea to the buyer, resulting in FOB prices of around $304 per ton in the Middle East and around $260 per ton in Russia.
The whole market is still weak, with buyers minimizing their risk exposure and anticipating continued price declines that may accelerate.
The market factors
Demand in Southeast Asia: Importers in the region expect the goods to arrive in April to meet peak season demand, but prices continue to fall due to active competition from traders for supply.
Freight increases: Freight rates on most routes have risen again, and continue to lower net profits and traders' bids for new goods
