Market looks strong through February

摘要

The surge in urea prices continued this week, gaining strength from aggressive buying by traders in Egypt, Yuzhny and elsewhere. Demand for urea is emerging in many areas as buyers see prices rising, with sales taking place in Africa and Latin America as well as Europe and the US. Overall, the urea market looks very strong through January and February, with March the first month in which supply may come back into line with demand. Trammo has been the most active buyer this week, winning two Egyptian tenders to book 50,000t of urea in the mid- $420s/t fob. This is the highest level since March 2013. It also paid $360/t fob for Yuzhny urea.