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Weekly Focus on the Global Urea Market
2026-07-27
The international urea market maintained an overall uptrend this week, with offer prices rising across all regions. Escalating geopolitical tensions in the Middle East have served as the core driving force behind the current price surge.
China’s offshore quotation for granular urea stands at USD 420–430 per metric ton. Trading volumes edged up slightly in Southeast Asia, with small-batch BFI offshore transactions concluded at around USD 430 per metric ton.
Trading activity remained muted overall in Europe; nevertheless, export orders from Egypt destined for Europe picked up markedly. As of press time, Egypt’s highest offshore urea quotation reached USD 555 per metric ton. Nigeria’s offshore price for granular urea neared USD 500 per metric ton, steadily narrowing the price gap with European markets.
In regions west of the Suez Canal, Brazil’s landed urea prices held steady at USD 460 per metric ton earlier this week before staging another rally on Thursday to USD 480 per metric ton. U.S. prices stayed firm, with the barge offshore quotation for September urea at the Port of New Orleans approaching USD 450 per metric ton.
Core Drivers of the Market Rally: Houthi Forces Block Saudi Shipping Lanes, Heightening Risks for Red Sea Maritime Freight
On July 20, Yemen’s Houthi movement issued a statement imposing a full ban on vessels linked to Saudi Arabia navigating the Red Sea, directly disrupting urea exports from Saudi Arabia’s Yanbu Port. Disruptions to Red Sea shipping will likely force Middle Eastern urea carriers to reroute west of the Suez Canal, driving up logistics costs.
The Houthi faction further stated that it had attacked two crude oil tankers sailing through the Red Sea on July 22, greatly amplifying safety hazards along the vital maritime corridor. Saudi petrochemical giant Sabic began its first urea shipment from Yanbu Port in mid-May. Market sources reveal the company dispatched no fewer than four urea cargoes totalling over 100,000 metric tons from the port throughout May and June, all previously transported via the Bab el-Mandeb Strait. The established shipping route is now fraught with substantial uncertainties.
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Weekly Focus on the Global Urea Market
The international urea market maintained an overall uptrend this week, with offer prices rising across all regions. Escalating geopolitical tensions in the Middle East have served as the core driving force behind the current price surge.
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