The lack of support to Black Sea producers via consecutive FCI (Fedcominvest) purchases above perceived urea market values was reflected in forward quotes for prills in physical and paper markets. Suppliers continued to hold out for netbacks in the $370s/mt FOB for physical positions, but bids for February tonnage circulated as low as $355/mt FOB this week might elicit acceptance. An even softer sentiment was reflected in forward paper-markets.
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