The international market of urea

The FOB price of urea is more than US$1,000/ton

India's IPL urea import procurement tender was opened on November 11, and a total of 16 suppliers were received with a total of 2,485,200 tons. Lowest price: CFR price from East Coast Fertiglobe is 998.5 USD/ton, West Coast Keytrade CFR price is 981.64 USD/ton, CFR prices of most suppliers are more than 1000 USD/ton. This bidding is valid until November 16, and the latest sailing date is December 31.

Prices in Western markets such as Brazil, the United States and Europe have also risen sharply, but they are still far behind India and South Korea, so regional supplies are tightening.

As supply shortages continue to push up urea prices, Petronas became the first producer to sell urea at an FOB price of US$1,000/ton this week.

As the shortage of granular urea threatens truck transportation, South Korea’s panic has made it more accepting of urea prices than other markets.

reasons:

China's energy crisis

Domestic production has fallen sharply, and the new high FOB prices have failed to attract exports-until the country's energy supply is balanced, the export problem is unlikely to be resolved.

European Gas

Due to the mismatch between raw material and nitrogen prices, natural gas prices in European hubs are still high, and some nitrogen plants are still in a state of suspension.

India urea demand

As global prices are based on the assumption that India will try to purchase millions of tons of urea this winter, India remains the main demand pillar.