China ASIA

摘要

Prilled urea prices have begun to fall this week now that the MMTC cargoes are all covered. Traders have bought prills at $276-280/t fob for prompt/March shipment to cover old short sales in Asia. There is still some resistance from factories to selling below $280/t fob, but the latest sales appear to be from local traders who have urea in port inventories who have decided to liquidate.