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International urea decline

International urea decline

  • Categories:News
  • Author:zhongcang
  • Origin:
  • Time of issue:2023-12-04
  • Views:657

(Summary description)As supply continues to exceed demand, international urea and ammonium sulfate prices have declined.

International urea decline

(Summary description)As supply continues to exceed demand, international urea and ammonium sulfate prices have declined.

  • Categories:News
  • Author:zhongcang
  • Origin:
  • Time of issue:2023-12-04
  • Views:657
Information

As supply continues to exceed demand, international urea and ammonium sulfate prices have declined.

Purchasing power in the U.S. market has recovered slightly, but prices remain under pressure. The price of large particles in Brazil has rebounded slightly from last week's low price of CFR 300 US dollars / ton, and this week's small batch trading price is CFR 310 US dollars / ton. The price of Nora in the United States is stable at US$300/ton FOB, and the transaction volume is light.

Due to fierce competition among traders and manufacturers, urea prices in other markets have generally fallen sharply. The Southeast Asian market has dropped by about US$10-15/ton, and Western Europe has dropped by about US$30/ton.

Ammonium sulfate prices also fell, with the biggest declines in Southeast Asia, where traders looked to build further short positions in Indonesia and the Philippines, while Chinese producers also confirmed lower FOB prices.

Spot freight rates in the Atlantic, especially for light vessels, continued to soar this week. The sudden rise in oil prices has brought some operations to a standstill as importers and producers try to push costs onto each other. China's export restrictions have not reversed the overall weakness and bearish trend in the market.

In the short term, urea prices (especially FOB prices) look set to continue falling, with significant cargoes still unsold for December despite the EU losing some production, Chinese export restrictions and the ongoing war.

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