NITROGEN All eyes on Egypt as gran market strengthens

摘要

The political turmoil in Egypt has thrown a spanner in the normal smooth running of exports and prompted urea firmer prices. One Egyptian producer was able to sell 25kt of urea for prompt shipment at $425pt fob, but the other three are not in a position to sell for February or even complete the existing loading schedule. European buyers have moved to grab urea from inventories and will deplete stocks quickly if allowed to buy traders. Prices for Russian granular have moved up to $405pt fob and the US market has rebounded by $20pst in the past three days, partly on account of the news from Egypt.