International urea market
Publish Time: 2023-09-20 Origin: Site
Indian bidding may see higher prices
The upcoming Indian bidding has suppressed activity in the urea market this week, with suppliers either unable to disclose their pricing ideas, unsure of the price level to be set, or a combination of both.
Opinions on the price vary from party to party, but everyone agrees that the price will be higher than the previous round of printing. At that time, Chinese suppliers lowered the price to CFR396-399 USD/ton. However, considering the chaotic transportation of IPL, it is unlikely that Chinese urea will become the price setter for RCF bidding.
On the contrary, people's attention has shifted to the FOB levels in Russia and the Middle East as a reference, indicating that the FOB price should be above $420 per ton in CFR420, but India's bidding prices are often unexpected, with current ideas ranging from $400-450 per ton in CFR400.
market factors
India: Buyers from other places are waiting for confirmation of India's quotation level before taking the next step.
China: Loading work has resumed, but the delays and problems caused by government intervention indicate that export supply will be restricted in the coming months.
Brazil: Buyers' resistance is forcing import prices to decline, and it seems that this trend will continue, weakening the Western market.