Urea prices have fallen again, but there is hope of bottoming out

The overall weakness of the nitrogen fertilizer market remains, with prices of urea, ammonium sulfate, and nitrate generally continuing to decline this week.

The soaring price of urea in China has prompted some trading behavior by importers and traders from other countries, but it is lower than last week's price level.

Due to traders covering short positions, urea trading is mainly concentrated in offshore trading within a narrow price range.

The price in Egypt has dropped to FOB290 US dollars per ton due to concessions made by manufacturers to ensure the sale of goods in June and July. In the United States, CF Industries sold a batch of export goods for July at FOB290 US dollars per ton and provided another batch of goods. Some goods from Oman are also sold at FOB280 US dollars per ton.

There has been some additional import interest in Europe, Central America, and South America, but transactions are rare because buyers and sellers have vastly different pricing ideas.

Price factor

China: Whether it is the sudden surge in domestic urea prices that has scared traders, or the slowdown in production and the increase in seasonal demand, China has far surpassed the global urea market.

India bidding: The price and quantity of RCF urea bidding next week will determine the trend of most markets in the coming weeks.