Global urea prices fall on sluggish demand

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.

Urea prices in the Black Sea region are also lower. After trading at around $350/tonne FOB Yuzhny early in the week, most indications are now in the $340s/tonne FOB.

“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

By: Carl Roache
+44 20 8652 3214

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