Views: 11 Author: Site Editor Publish Time: 2023-12-20 Origin: Site
The sluggish demand and lack of optimism in most markets mean that urea prices have generally fallen again this week.
The offshore price of large particle urea has declined in all regions. In January, a batch of goods in Qatar was priced at FOB 317 USD/ton, while Indonesia's bidding price was the highest at FOB 321.5 USD/ton. The Egyptian manufacturer's quotation was lowered to FOB 340 USD/ton, and the Russian manufacturer accepted the price with lower net profits from the US market.
The price of small particle urea in most destinations is also relatively low. The price of the United States and Brazil dropped about 15 dollars/ton to CFR320-325 dollars/ton, the price of imports from Europe and Türkiye was CFR340 dollars/ton, and the purchase price of imports from Latin America on the west coast was CFR355-365 dollars/ton.
market factors
Natural gas prices: European natural gas prices fell by 10% this week, further easing the tension on regional supply. The spot price of TTF remains stable in the future, at around € 35/MWh, leaving ample profit margins for nitrate producers.
Seasonality: Against the backdrop of sufficient urea supply, the seasonal slowdown in agricultural demand in most markets, coupled with a slowdown in trading trends before Christmas, continues to suppress nitrogen fertilizer prices.
30-60 day outlook: weak
The sluggish demand in major import markets such as Brazil, the United States, Europe, and India, as well as the low risk of regional conflicts on supply to the Middle East and the former Soviet Union, seem to continue to drive down prices.
