Nitrogen Fertilizer Price Is Steady
Last week, in the international nitrogen fertilizer market, nitrogen fertilizer price presented steady condition. In the west area of Suez Canal, urea price tended to steady. Ukrain announced its production halts, Romania stopped its export and the shortage of fertilizer supply in Egypt made The Black Sea area into the fertilizer shortage condition. America started its spring procurement and the price stopped decreasing.
The FOB price last week was 350 dollars but there were no buyers. The two fertilizer manufacturers in Ukrain didn’t want to reduce the price. Urea trading volume in Egypt was small and kept this price for 3 weeks. The New Orleans port export price kept 320-325 dollars per ton. There is no hint to present the price rebound. It is predicted that in the future two weeks, buyers in Latin America will procure some batches of urea fertilizer particles; besides, India will also call for bids in late May and then we will figure out the fertilizer price in the Baltic Sea area.
Large fertilizer particles market is still down and would keep until June.China will increase the urea amount which will affect fertilizer price. If the price reduces further, Chinese fertilizer manufacturers will definitely reduce the production in case the overstock. The small urea particles FOB price in May in China is 340 dollars which will be further lowered down on condition that the low taxi on export term starts.