Small increase for CAN; prills expected to rise

摘要

The Spanish market is among the many feeling the effects of events in Egypt. There is at least one vessel of granular urea booked for Spain and a cargo of UAN, the status of both vessels is unclear. Fertiberia has not posted a domestic urea price this week. The international price of prills has been going down, partly helped by falling freights. However, wider international events will likely see a reversal, until the uncertainty in Egypt is removed. The monthly availability of 280,000 mt of Egyptian granular urea has not been sold for February. With Europe gearing towards its peak application season, this will push demand towards Russian producers, one of whom already claims to have sold granular urea at ar $405pt fob Klaipeda.