Urea price plummets,and the prospects are

The prices of urea, ammonium sulfate, and ammonium nitrate in most regions have fallen this week, mainly due to the weakening import demand forcing prices to fall again.

 At the IFA meeting held in Prague this week, the sentiment at all levels of the supply chain was pessimistic, with most people expecting prices to fall until some factories reduce production and the market will stabilize.

 Importers from Mexico, Brazil, Vietnam, and Sri Lanka have some demand, but the prices in these markets are lower than the previous transaction generally .

 North African producers sold most of their supply this week, with prices in Egypt and Algeria dropping by about $40 per ton, reflecting a large unsold supply, while prices in China only fell by $10-15 per ton.

 The market factors

 Seasonal demand: Spot urea prices in Egypt and Southeast Asia continue to maintain this week, mainly due to the shipper's last-minute demand to make up for insufficient supply.

 Weak fundamentals: The decline in crop prices continues to hinder interest in agriculture, while the weakness of the European natural gas market continues to drive nitrate producers to lower prices to maintain competitiveness in urea imports.