Markets Exhibiting a Downward Trend:
- Middle East (excluding US): From $430-435/t to $430-440/t (a slight increase at the upper end, but overall a mildly bearish trend)
- Middle East (US Netback): From $379-401/t to $375-412/t (a decrease at the lower end, a slight increase at the upper end)
- China: From $265-273/t to $247-267/t (a significant decrease across the price range)
- Southeast Asia (CFR): From $440-455/t to $450-460/t (a decrease at the lower end, an increase at the upper end)
- South America (Brazil): From $420-435/t to $435-445/t (an increase across the price range, but relatively bearish compared to other markets)
- South America (Argentina): From $445-450/t to (no new data provided) (a downward trend is observed, with no new figures available)
- North America (US Gulf): From $413-433/t to $408-443/t (a decrease at the lower end, a slight increase at the upper end)
- North America (Nola Barge): February Average: $398.50/t to $392.88/t (decrease)
- North America (Nola Barge): March Average: $393.36/t to $390.44/t (decrease)
- Baltic: From $385-400/t to $400-410/t (a slight increase at both ends, but a generally bearish trend compared to other markets)
- Romania (CFR): From $440-460/t to $455-465/t (an increase across the price range, but relatively bearish compared to other markets)
Markets Exhibiting an Upward or Stable Trend:
- Iran: From $378-378/t to $385-385/t (a significant increase across the price range)
- Egypt (Non-Europe): From $390-415/t to $405-425/t (an increase across the price range)
- Algeria: From $395-460/t to $410-465/t (an increase across the price range)
- North Africa: From $390-460/t to $405-465/t (an increase across the price range)
- Nigeria: From $395-420/t to $415-430/t (an increase across the price range)
- Southeast Asia: From $420-430/t to $430-433/t (a slight increase across the price range)
- Australia (Geelong): From $805-820/t to $810-820/t (a slight increase at the lower end)
- Venezuela/Trinidad: From $385-408/t to $400-418/t (an increase across the price range)
- Mexico (West Coast CFR): From $440-455/t to (no new data provided) (a price increase is observed, with no new figures available)
- French Atlantic (FCA): From $460-465/t to $465-470/t (an increase across the price range)
- Black Sea: From $400-420/t to $410-420/t (an increase across the price range)
- India: $422.00-427.00/t to $422.00-427.00/t (prices remained stable)
Conclusion:
While the majority of global granular urea markets experienced price declines this week, Iran registered a notable price increase from $378-378/t to $385-385/t. This divergence may be attributed to various factors, including domestic supply and demand dynamics, government pricing strategies, or other competitive advantages. Further investigation into the interplay of supply and demand forces within the Iranian market is warranted for a comprehensive analysis.
