Last week, the appropriate adjustment of urea prices, traders decided to buy. Since the overall rise in urea prices, Algeria large granular urea prices bottomed out, the FOB price of about $230 (ton, the same below). Affected by China's Urea Export shortage, the international market in January urea supply is very tight, which is good news for other countries suppliers.
Traders Ameropa procurement is very active, has purchased more than urea, plans to ship in January. Other traders hesitate. But last Thursday Egypt sold a large number of urea at $250.
Middle East to fob 240 to $245 to complete the two batch of spot trading, January shipment. These goods may flow to the United states. Earlier, Australia said it would buy, providing another option for the seller.
Last week the United States market, the price of urea shipment in February rose to $242 per ton, equivalent to $240 in the Middle East fob. This makes suppliers more confident that this year, China's export volume of urea will drive prices to rise further.
Last week, the Brazil market has to rebound beyond expectation of large granular urea, CIF was $255, compared with the previous week rose $15. The rise was entirely unexpected, as data showed that in November about 830 thousand tons of urea arrived in Brazil, breaking the historical record.
At present, most of the market remained stable, and the next urea prices will certainly be higher than now. China's exports of urea are very small, and this momentum will continue until February. Now China's large granular urea fob for $240, but if the export tariff reduction or cancellation, prices will fall sharply.
There are still some arguments about whether India will bid for urea again. The new tender price is expected to be more than the previous STC tender price.