Buyers cautious on raw material prices

摘要

NPK buyers showed hesitancy in negotiating because of fl uctuating prices for both urea and phosphates. But market sentiment remained fi rm overall, with some prices increasing in various regions. Falling urea prices have caused traders to hesitate in making deals with suppliers, as many believe NPK prices could adjust accordingly. Some traders have pulled attention away from NPKs to address the drops in urea. But strengthening phosphate and sulphur prices appear to be the main driver for NPK prices to continue fi rming in the near term, as the supply/demand fundamentals in these raw materials appear to be more favourable towards sustained growth, according to traders.