UREA: Granular urea prices have firmed by ?10-15 pt this week to ?405-410 pt fot big bags, up from ?385-395 pt two weeks ago for fresh business. If Yara Italia books good business this week, then they will try to raise their effective price to ?415-420 pt fot big bags, perhaps as early as next week. For the moment they have “pre-advised” this higher level of ?415-420pt to their main customers, but larger buyers can still obtain granular urea ar ?405 pt fot big bags this week. Yara is not thought to have suffered too much from any reduction in gas supplies during the recent Siberian cold snap. The first wave of Jan/Feb buying is nearly over, with Italian domestic prices getting a boost from the late arrival of Ukrainian and Egyptian granular and the strengthening international markets. The next wave of purchasing interest will start about mid- April. Importers and wholesalers are wary of committing so far ahead in today’s volatile market.
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