14 August 2008 19:00 [Source: ICIS news]
LONDON (ICIS news)--US granular urea prices have fallen by $5-37/short ton (€3-25/short ton) due to continued weak demand, traders said on Thursday.
Granular urea barges traded this week at $765-770/short ton FOB (free on board) NOLA (New Orleans) for second half August loading, down from last week, when prices were $770-807/short ton FOB NOLA.
The traditional summer lull was evident with very limited buying interest noted.
Moreover, the market was currently in between applications. Therefore, buyers had no requirement to purchase now.
As a result, most remained absent, waiting for prices to fall further.
“It is very quiet. This is normal for the time of year. It will start picking up again in three weeks or so,” a trader said.
($1 = €0.67)
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