Changes in the international urea market
Publish Time: 2023-05-09 Origin: Site
The urea market has been divided this week, with the eastern region generally stable or strengthening, while the western region is weak and weak.
Compared to other destinations, the United States not provides premium returns any more, the increasing trend for three weeks end, which indicate a general slowdown in other regions of the world.
In the second half of May, the price of Nora barges decreased by $25/ton to $315/ton FOB. The seller stated that they even could not find the importer who quoted for the June goods.
However,though factory closures and strong seasonal demand in some countries, the urea market in Southeast Asia remains strong.
In the sales bidding in Indonesia, the highest quote for the second half of May was $330 per ton FOB, while Brunei Fertilizer Industry Company sold a small batch of goods at $340 per ton FOB. Several importers are seeking to ship in May or early June, which further supporting the market in the region.
The market factors
Tight supply (short-term): Strong order demand in May and major factory shutdowns continue to support the forward movement of the price curve.
US: The slowdown in US demand and a clear lack of interest from importers in goods arriving after May have led to widespread pessimism among traders.
In general, urea production seems to be very confident about the goods shipped in May. Before the FOB price adjustment, the price of the target market may be weak.