Producers and traders apart on FSU March positions

摘要

Reports from Argentina now indicate that Petrobras is receiving the prompt cargo booked with Trammo in the low $380s/t cfr, in combination with a 5,000t parcel booked for Uruguay in the upper $410s/t cfr, reflecting the full impact of the cost for the second discharge port. At the risk of becoming very repetitive, the FSU AN market remains dominated by domestic sales at levels significantly above export returns. Producers continue to claim returns equal to export numbers in the $340s/t fob, but doubts on the validity of these claims beyond mid-March are starting to emerge.