In April, China relaxed its urea export policy. According to reports, from April 12th to August 31st, the inspection period for urea exports will be approximately 10 working days. Since mid-March, the price of urea in the Chinese market has been declining, but it started fluctuating in April. The news of " resume urea exports " undoubtedly injected a dose of " stimulant" into the market, leading to a flourishing scene in the urea market.
In contrast, the international urea market continued to decline this week after the confirmation of bids for 340,000 tons of urea in India.
This week's international urea price situation is as follows:
Chinese bulk granular FOB prices range from $295.01 to $299.01 per ton, up by $4-5 per ton.
Black Sea granular FOB prices range from $250.01 to $280.01 per ton, down by $20-30 per ton.
Baltic Sea granular FOB prices range from $245.01 to $285.01 per ton, down by $10-30 per ton.
Middle Eastern granular FOB prices range from $295.01 to $310.01 per ton, down by $25-26 per ton.
Brazilian granular CFR prices range from $285.01 to $295.01 per ton, down by $30-35 per ton.
India's CIF prices range from $339.01 to $347.71 per ton, remaining flat compared to last week.
Iranian large granular FOB prices range from $255.01 to $285.01 per ton, down by $7-30 per ton.
Egyptian (European) large granular FOB prices range from $310.01 to $320.01 per ton, down by $9-15 per ton.
Brazilian large granular CFR prices range from $290.01 to $300.01 per ton, down by $30-35 per ton.
Southeast Asian large granular CFR prices range from $345.01 to $355.01 per ton, down by $15-17 per ton.
Chinese large granular FOB prices range from $327.01 to $329.01 per ton, up by $15 per ton compared to last week.
Therefore, although the current relaxation of urea export policies is beneficial to the domestic market in the short term, in the medium to long term, the increase in China's urea exports and international supply may continue to exert downward pressure on the international urea market.
Consequently, it is necessary to closely monitor changes in international urea prices in the future. If international prices continue to decline, China's urea export advantage may also disappear.
Attention: The above information is for commercial reference only due to the diversity of information collected, and Kelewell is not responsible for the authenticity of the data.
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