Algeria: Producers hope for better netbacks

摘要

New trades in spot volumes of granular urea have not been reported this week from AOA and Sorfert. AOA is concentrating on contract volumes, and Sorfert appears intent to secure improvements in returns well into the $250s/t FOB. Sales in Brazil are indicative of substantially lower netbacks in the upper $220s/t FOB at best. The US offered prospects of returns around $240/t FOB when barge-values peaked for March positions at a $258/t CIF equivalent into the Mississippi River, but delivered values have since retreated by at least $10/t.