Urea Market
In November, the overall international urea market was downward. With the weakening liquidity of international sources, the European market was on the sidelines and there was selling by Egyptian producers based on high inventory levels. Although India released new bids in mid-November, sellers have cut prices to ensure sales as international supplies are plentiful, and traders and producers are focused on scheduling ships for India, while other regions still have low liquidity, such as Southeast Asia with little news of transactions.
Potash market
In November, the international potash market continued its downward trend. Especially in the Brazilian market, the price of potash purchases from Brazil kept moving downward, even falling below the lowest price of India's potash contract with China, under the situation of large reserves of early supplies and low profitability of agricultural products. By the end of the month, the monthly average price of Brazilian large granules c.i.f. was US$573/ton, -9.65% QoQ and -28.19% YoY; the Southeast Asian market dropped slightly less than the Brazilian market, with limited transactions. The average monthly price of standard potassium chloride in Southeast Asia was US$733 per tonne, -10.32% QoQ and +20.87% YoY. The decline in the international potassium sulphate market was relatively small, with limited demand for potassium sulphate in the international market, so the overall price wave was not as strong as for potassium chloride. The monthly average FOB price of potassium sulfate in Asia this month was US$913/ton, -5.81% QoQ and +36.58% YoY.
Compound fertilizer market
The current winter storage season coincides with the collective rise of nitrogen, phosphorus and potassium raw materials, and there are compound fertilizer companies stopping orders and stopping reports. China's compound fertilizer market is expected to stabilize in December, with some increases of 50-100 yuan / ton, of which the low-end price sources as prices rise and reduce. Need to focus on the trend of raw materials, logistics and transportation and enterprise regional policy price changes.
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