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Urea market prices further increased

Views:3     Author:Site Editor     Publish Time: 2020-03-13      Origin:Site

Urea prices in the United States have risen sharply this week due to continued shortages in the Southern Plains and limited barge supply in the short term. Nola FOB shipments from March to the first half of April have been active in the $ 249-270 / short ton range. But the market is backwards, and ample supply is expected from April to May.

Producers sold more large granular urea with higher prices in March and April. To meet Australian demand, several shipments were ordered in the Middle East, with prices in the range of fob $ 250-258 / t . In recent sales, fob prices in Egypt and Algeria have risen to $ 255-260 / tonne and $ 255-263 / tonne, however, the Canadian Balticlarge granular urea have been around fob $ 240 / t.

 The supply of large and small granular from producers is tight, and prices are expected to remain stable over the next month as traders intend to push prices higher before selling long positions.

 Market-driven

 United States: The pace of imports will slow in April as the risk of exporting increases.

 India: Sales of urea remained strong in February, and Indian stocks were low. It is expected that the tender will buy about 1 million tons from April to early May in March , which should support the price of international market.

 China: Due to higher returns, the focus remains on domestic sales, and exports are expected to be limited from April to March.


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