US NOLA: Barges sink below $200/st

摘要

Despite higher indications early in the week, prompt non-Chinese granular urea barges have changed hands at $199/st FOB and $198/st FOB New Orleans. Buyers held out against earlier indications as high as $205/st FOB. Rumors of prompt sales of Chinese granular in the high $190s/st FOB early this week appear to be unfounded. Traders indicated the imported Chinese material available has been held in the US Gulf on barges for more than 90 days and now is viewed as distressed. A sudden rebound in replacement costs is not a concern for the