sdruiyuan@ruiyuanfertilizer.com
Current Overview of the Urea Market
2026-06-12
June 12 news: This week’s international urea market focus: Global urea prices continued to decline sharply. On June 6, reports emerged that China would abolish its minimum export price, triggering immediate volatility in the international urea market. As a result, on June 8, India’s NFL urea tender prices plummeted.
The latest NFL tender quoted a minimum CIF price of $444.9–$449.3 per ton, roughly $500 per ton lower than the IPL tender price on June 5. Under pressure from expectations of low‑priced Chinese supplies being dumped, the decline exceeded most market participants’ prior forecasts.
By region, Egyptian urea fetched an FOB price as high as $495 per ton, while Algerian FOB prices reached $520 per ton; Nigerian transactions settled around $410–$430 per ton. In the Middle East, price differentials were pronounced, with quotes for shipments bound for India markedly diverging from those destined for other higher‑priced regional markets. Markets west of the Suez Canal weakened in tandem, with Brazilian urea CIF prices plunging to just above $440 per ton before rebounding to near $460 per ton by Thursday. The average Brazilian market price this week is expected to range between $440 and $475 per ton. Meanwhile, U.S. barge‑delivered urea (NOLA port) saw a sharp pullback, with prices falling to $360–$415 per ton.
Key driving factors:
China’s fluctuating export pricing policies have unsettled global market sentiment. Following earlier reports that “no minimum export price” would be enforced, bearish market sentiment intensified, directly pushing down Indian NFL tender prices. Subsequently, on Tuesday, China reinstated its official export guidance price and issued warnings against short‑selling activities targeting the Indian market. Currently, India’s NFL has launched comprehensive counter‑offers to all suppliers; after the first round of counter‑bidding, intended purchase volumes stand at approximately 100,000 tons.
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