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International urea prices lifted this week on demand from Australia and the US, with a Qatar Energy sale at USD 380/tonne FOB and a Vietnamese cargo reported at USD 405/tonne FOB. NOLA barges traded at USD 297 to 333 per tonne, and buyers in Brazil and Europe are holding back.
Prices are expected to hold until Chinese exports resume in April.
Spring import demand from the US and Australia supports urea prices, but expected Chinese export resumption could pressure them later. Thin buying from Brazil and Europe limits near-term upside.
czapp.comStein Chingen Haugan26 feb 2024Tras 176 eventos alcista de comercio pasados, Urea se movió una mediana de +0,1 % en 5 sesiones (51% al alza; mitad central entre -1,3 % y +2,4 %), y +1,6 % en 20.
Variaciones de la referencia de cada materia prima desde el último cierre antes del evento. Las lecturas históricas agrupan eventos pasados del mismo tipo; describen lo ocurrido, no lo que ocurrirá. No es asesoramiento de inversión.
Late-February report of urea prices lifting on Australian and US demand and firm FOB sales shows tightening trade flow and buyer momentum just before the 1 March move, with prices expected to hold until Chinese exports resume.
