county down
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- downpatrick
C B is correct - India cannot get hold of sufficient tonnes at the right price, mainly due to the lack of Chinese tonnes. India needs circa 1.5mn tonnes. The latest urea tender has just finished and India only secured to 120,000mt. So this means another tender, probably next week. The next 60 days urea prices are firm and AN is starting to look cheap against urea. Beyond this it is difficult to predict, as China could have more export availability. I don't really see much downside, and I don't see urea or AN getting near the early offers... that ship has sailed. Sub £200 for Nitram and sub £220 for urea was a no-brainer. Even todays N prices aren't too bad.