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Latest Iran & Mideast Urea Update: 30–60 Days Market Outlook & Q4 Price Momentum
2026-07-07
More urea vessels exit the strait of Hormuz : Argus estimates that there are around five vessels inside the Mideast Gulf with around 255,000-260,000t of urea, basis Kpler vessel-tracking data, down from eleven vessels with over 500,000t of urea on 25 June.
Iran urea sales pick up : Producers have sold at least 140,000t of granular urea at $340/t fob Iran this week for July shipment, in line with producers' offer levels for the week. The cargoes are likely for shipment to Turkey.
30-60 DAY OUTLOOK Sluggish, then higher
Urea prices appear set to remain pressured for the next 1-2 weeks, under the weight of more sales from Iran and China.
But there is considerable deferred and delayed demand which will continue to emerge through July for loading in August, particularly from buyers in Europe and Brazil.
Another Indian urea tender in late July will also add further support for prices, with upwards momentum expected to pick up towards and into the fourth quarter.
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