The international urea market continues to be strong
Publish Time: 2021-01-26 Origin: Site
Urea prices continued to rise this week, highlighting the continued strength of the market. As traders purchased for March, the price of Egyptian pellets rose by US$15 to a FOB (fob) of US$350 per ton, a 6-year high. Due to demand from Latin America, the price of Chinese product is US$326 per ton.
Driven by continued buying, the price of Brazilian pellets jumped to $350/ton cfr.
The price of urea is also strong, despite large tenders without India. The price of granulated urea in China was US$310/ton FOB, which rose by US$5/ton this week. The price of granulated urea in Egypt rose by US$28 to US$335/ton FOB, continuing to rise sharply.
The US barge market was the main driver of the recent price surge, but it fell back early this week. Although it temporarily attracted some heat from the market, it hardly slowed the pace of the rise, and prices soared again later.
Indonesia exports resume: The highly anticipated Pupuk Indonesia sales tender provides granular urea and granular urea to the tight regional market.
Latin America supports granular urea: Traders snapped up granular urea from China, Egypt, and Malaysia to meet demand in Latin America, driving up prices.
By March, sales in Egypt were very large, and Egyptian producers benefited from demand in Europe and Latin America, and sales were already very good in March.