Interest in fresh urea positions has been emerging from numerous Latin American buyers this week, likely sensing that FSU prices may once again have bottomed out, at least in the short term. Purchases, negotiations, and pending inquiries include the additional 20-25,000 mt Pronamex purchase for Mexico alongside combination parcels covered by Incofe for Central America that include 15,000 mt Baltic urea and 6,000 mt prills from Venezuela. The short-dated Abocol tender for 20,000 mt urea for Peru closed today with offers in the low-to-mid $290s/mt CFR, and interest for a similar parcel is expressed by Molinos, also for Peru. Indicative of a slightly firmer market, Ciamsa had raised bids late on March 25 for the 10-12.000mt part cargo under negotiation for Buenaventura from $295/mt CFR by about $10/mt, and is believed to have concluded. Koch has booked a cargo of granular urea from Fertinitro this week at $275.50/mt FOB, likely heading for Mexico.
展开▼
