BALTIC

摘要

There is a virtual absence of new demand for prilled urea for April shipment to Latin America that is badly affecting Russian exporters. Few traders have short sales to cover since buyers have become accustomed to falling prices and have been unwilling to commit. Prices have not been seriously tested this week. Producers continue to talk of $260/t fob, but in reality prices below $250/t fob would probably be needed now to interest any buyer. With granular urea now offered at $275-280/t cfr in Brazil, the theoretical netback on prills would be $240- 245/t fob Baltic, allowing a $10/t price differential and $25/t freight.