Baltic Sea: Spread in producer returns widens

摘要

Regional producers of prilled and granular urea are attempting to maintain netbacks for April positions close to $240/mt FOB for prilled and granular urea, but buying interest at the quotes available is limited, at best. Small parcels of granular urea traded for European markets at netbacks assessed no higher than $235/mt FOB. Returns from rail deliveries to regional markets are however assessed some $10/mt higher, while recent trades in granular urea from other origins into Brazil suggest returns around $215/mt FOB, if shipped from the Baltic.