May supply tightens

摘要

Unsold quantities of urea for May loading are shrinking fast and traders who sold short for May are fnding fewer and fewer options for cover. Fresh sales in Algeria, Egypt, Indonesia and the FSU have reduced supply and have seen stable or marginally lower pricing. Traders have bought 90-100,000t of Black Sea urea for India, while Sorfert Algerie sold 80,000t this week for Europe and Mexico.