Trade in Egyptian urea has continued over the week, it has lost steam compared to previous sales.
At the end of last week Abu Qir closed a deal for 5,000 t of granular urea at $530/t FOB Egypt for August shipment, while AlexFert sold 5,000 t of the granular product at $535/t FOB Egypt for August dispatch to Europe then.
This week, MOPCO has sold 6,000 t of granular urea at $540/t FOB Egypt for August shipment to Europe, while Abu Qir traded 10,000 t of the granular product at $548/t FOB Egypt for the same month of dispatch. Reminder: local producers sold a total of 62,500 t of granular urea at $490—527/t FOB Egypt for August loading at the end of the week before last and a week ago.
Following these sales, Egyptian companies have started asking around $550/t FOB Egypt for August-shipped granular urea. Some indicative prices for the August—September-loaded granular fertilizer have also been heard at $550—570/t FOB Egypt this week, according to WFM’s sources.
Netbacks from offer prices for granular urea in the United Kingdom and Ireland have been yielding some $515—530/t FOB Egypt and $495—510/t FOB Egypt, respectively, this week.
Egyptian manufacturers keep making prilled and granular urea uninterruptedly, according to WFM’s sources.
In 20 days of July, Egyptian producers exported 114,850 t of granular urea from Damietta seaport, which is 4% less than in the same period of June. The cargoes went to Europe, Turkiye, Syria and Angola.
