04 March 2011 14:06 [Source: ICIS news]
LONDON (ICIS)--Global urea prices have fallen as a result of sluggish demand amid weak market sentiment, trader sources said on Friday.
With sellers continuing to outnumber potential buyers, urea prices remain under pressure and have suffered further losses this week.
Egyptian urea traded in the mid-$370s/tonne (€266/tonne) FOB (free on board), down from previous prices of around $400/tonne FOB.
In Thailand, the first substantial spot business in several weeks has taken place at below $400/tonne CFR (cost and freight). Prior to this, price indications had been around $405-410/tonne CFR.
“It is weak. I can’t see there is much demand to push price up,” said a trader. “The question is, how low will it go?”
($1 = €0.72)
For more on urea visit ICIS pricing fertilizers
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections