Profercy
Profercy
Global fertilizer prices and market analysis
  • Home
  • Nitrogen
  • Phosphate
  • Potash
  • About Us
  • News
  • Contact
  • Home
  • Nitrogen
  • Phosphate
  • Potash
  • About Us
  • News
  • Contact

Urea market stages recovery on buying interest in Latin America and Africa

June 22, 2020Leave a commentGeneral, Nitrogen

Urea prices across a number of western and eastern markets have staged a recovery in recent weeks, buoyed by the emergence of demand from Latin America for granular, and African markets for prilled urea.

Granular and prilled urea prices have been on a downwards momentum since March, with a lack of buying demand globally contributing to the bearish sentiment across the market. But, over the past three weeks, prices have continued to push higher.

In Latin America, strong demand from Argentina in particular has resulted in 4-5 cargoes of granular urea being booked of late, with some booked by traders at prices up to $240pt fob. Higher levels of demand from Brazil and central America has also helped producers achieve higher prices in the Middle East, Algerian, and Egyptian markets.

In Africa, higher levels of demand for prilled urea from the west coast, as well as Angola and Tanzania, has resulted in prices rising to $210-215pt fob Black Sea equivalent. Furthermore, with turnarounds currently either ongoing or planned in Russia and the FSU, prilled urea prices are expected to be rise further.

Southeast Asian prices have ticked higher, with the lack of Chinese selling interest supporting prices and giving buyers in the region little choice. If China continues to opt out of the export market, which it has done since March, the bullish pressure will continue to support urea prices going forwards. However, with domestic prices falling in China, producers may now consider exporting material.

The global urea market continues to await the outcome of the latest Indian tender as a real test of where FOB values lie. Earlier reports from several participants suggest that lowest offers were around $238pt cfr west coast, although that has yet to be confirmed.

by Neha Popat, Nitrogen Market Reporter

Ahead of the latest Indian urea purchasing tender, urea prices have advanced. Chinese suppliers have been focused on the domestic market, holding export offers for some time and only committing small volumes to the international market. With the domestic season due to conclude soon, Chinese export interest is expected to build.

Share this content
LinkedInGoogle+TwitterFacebook
Related News
Mexican government officially confirms temporary removal of amsul import tariffs
May 27, 2022
PWNI hits lowest point of the year to date as nitrogen values continue to erode
May 27, 2022
Nutrien’s huge clean ammonia plant will boost food security, support global decarbonisation drive
May 27, 2022
Urea: RCF purchasing inquiry concludes, ME and N. African fob values stable
May 20, 2022
Russian AN suppliers return to the export markets after domestic season/export ban ends
May 13, 2022
Market readies for post-Indian tender period; Baltic nitrate values tumble on supply
May 13, 2022
Leave Comment

Cancel reply

Your email address will not be published. Required fields are marked *

clear formSubmit

Recent Insights
  • Mexican government officially confirms temporary removal of amsul import tariffs
  • PWNI hits lowest point of the year to date as nitrogen values continue to erode
  • Nutrien’s huge clean ammonia plant will boost food security, support global decarbonisation drive
  • Urea: RCF purchasing inquiry concludes, ME and N. African fob values stable
  • Russian AN suppliers return to the export markets after domestic season/export ban ends
Archives
Topics
  • Ammonia (1)
  • General (227)
  • Nitrogen (265)
  • Phosphate & NPKs (11)
  • Potash (4)
  • Profercy World Nitrogen Index (148)
  • Uncategorized (3)
Contact Profercy

Sales / Subscriptions: +44 (0)208 1234 418
Market / Customer Helpline: +44 (0)1372 386205
Press / Media Enquiries: Contact Us

Profercy Ltd,
Riverbridge House
Fetcham Grove
Guildford Road
Leatherhead
Surrey KT22 9AD
United Kingdom

Send an email

Profercy Hub Login

Latest Profercy Updates
  • Mexican government officially confirms temporary removal of amsul import tariffs
  • PWNI hits lowest point of the year to date as nitrogen values continue to erode
  • Nutrien’s huge clean ammonia plant will boost food security, support global decarbonisation drive
Latest Global News
  • Nitrogen markets are responding to the latest developments in Ukraine. The prospect of sanctions on Russian materia… https://t.co/o1eflZDN02
    24th Feb 2022 14:30 UTC
  • Urea - India's anticipated return to the market has been confirmed today with IPL announcing a purchasing tender to… https://t.co/pPnaDGeAkO
    29th Jan 2022 09:04 UTC
  • After a difficult start to the year for producers, urea values are on a firmer footing. The prospect of India retur… https://t.co/XdAw3uuhF5
    28th Jan 2022 16:00 UTC
Copyright © 2022 Profercy Ltd | Registered in England & Wales. Company No. 03220009.

Terms & Conditions - Data & Privacy - Website by Spinach

×
Before you leave...
Would you like to download a free copy of our reports? We have a free sample of each report for you. You can also take a 2 week free trial to see the value we deliver. 

You are giving us consent to send you Profercy reports and information about our services. Privacy Policy