UAN: Activity remains muted

摘要

Activity in UAN remains muted with most prices holding at recent levels. Market participants are now readying themselves for lower prices in November and December due to ample supply. In Europe there is a risk of further price deterioration. At present suppliers are focusing on meeting existing commitments, with little movement in the spot market owing to limited demand. Abu Qir sold 3,000 mt UAN to Helm at a reported $140/mt FOB this week for early November loading. This is a $13/mt increase on the producer's last sale at the end of September.