The perceived disappearance of 662,000 t Iranian urea to be shipped direct from Iran to India and a further 50,000 t likely to ship from Chinese bonded warehouse have boosted global urea prices further over the week. Importers recently relying on Iranian supply for highly competitive cover have had to resort to other origins, only to face substantially higher quotes. Turkish buyers that were holding quotes for Iranian granular at $257/t CFR duty unpaid, or about $274/t CFR duty paid are now receiving quotes for prilled urea no lower than $295/t CFR following sales of limited quantities of Egyptian prills some $3-4/t lower.
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