Egypt slashes prices to find liquidity

摘要

Urea prices fell in most markets this week as a sell-off in Egypt sparked a broader reset lower. Egyptian producers - sitting on high inventories and a meagre sales-book for November - cut prices by around $55/t early in the week, before rapidly regaining all this lost ground as buying continued. The net result has been to clear most remaining producer inventories of unsold tonnes to load in November, though December remains largely unsold.