Baltic Sea: Trade in urea seasonally slow

摘要

The bearish sentiment in urea prevailed for yet another week in the Baltic, with further downward corrections in netbacks to suppliers evident. Small sales of prills for Latin America in combination with other fertilizer grades were indicative of returns up to $228/t FOB with no provisions for costs. Offers into Mexico down to about $250/t CFR suggested netbacks below $225/t FOB when including regular transaction costs on top of the freight element applicable. The indicative range for the week is assessed accordingly at $223-228/t FOB.