International urea market is slightly stronger

International urea market is slightly stronger

Overall, the international urea market remains strong, and most markets are stable or slightly up. With the small grain urea market trend slightly stronger than large grain urea, the two began to show signs of separation.

The urea tender announced by India's MMTC will close this week and require shipments on November 10, as the next more than 1 million tons of new tenders will be released soon, so this buying is a bit heavy.

September 09-12 China's small-particle urea prices rose slightly and will dominate India's supply. After the bidding was announced, Chinese suppliers raised their prices to FOB290 USD/ton high or above. It is reported that no transaction has been reached at present.

Due to tight supply, the price of small urea in the Black Sea and the Baltic Sea has gradually increased to FOB340/tonne.

It is understood that in the large-grain urea market, Helwan closed its bids and sold 7,000 tons of large granules at a price of USD 390 per ton, which is the first large spot transaction in Egypt since August 21st. The increase of US$12/ton from the previous one indicates that the production of natural gas-dominated enterprises is shrinking, and the large-particle urea available for shipment in September is in short supply.

In the Middle East, it is reported that in September large spot cargo shipments have been FOB370 US dollars / ton, compared with the recent spot sales rose about 5 US dollars / ton.

Due to the further weakening of demand in China, the price of large-grain urea fell back, and the market’s trading environment was poor.

Barge prices in the United States fell slightly during September 09-12. In the Brazilian market, the high price of CFR395-400/tonne has not yet been accepted, and the French market has no urea quotation of 325 euros for FCA, and the current price is lower than the alternative product price. Demand has already begun in Eastern Europe.

The large international conference in San Francisco led to a lack of trading in the urea market. Demand in Canada and Brazil is significant, coupled with upcoming bids in India, and the return of meeting participants, etc., and the volume of late transactions may increase.

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