Latin American demand attracts Chinese product

摘要

Demand from Latin America is in evidence from Colombia and Peru, but the Monomeros requirement for Barranquilla has already been covered by Ameropa from China in the upper $450s/t cfr, and the Molinos requirement for Peru appears set to be covered with Chinese product as well. At current asking prices, FSU product is at a distinct cfr disadvantage with Chinese prills, with asking prices from fast Baltic Ports and Yuzhnyy about $30-35/t higher than those available from China. A cargo of Venezuelan granular urea, originally sold by Koch to Incofe at $374.50/t fob has meantime been redirected to WC Mexico under a $440/t cfr sale.