Urea :Europe

摘要

FRANCE: France was closed for July 14 celebrations yesterday and is about to enter the holiday season. Trading has come to a literal halt. Orascom still claims that a cargo of granular urea from the producer's EFC unit in Egypt was sold to partially owned trader Gavilon for July loading at $275/mt FOB. The Euro remains relatively strong, following gains of close to 5% against the US dollar since late June. The European currency was trading above $1.27 today. The suggested Gavilon price is indicative of a break even cost at $305/mt CFR or about ?248/mt FOT ex vessel. The market is assessed at a nominal ?240-245/mt FOT based on small trades as concluded last week.