Iranian Urea maker Petrochemicals in sanctions Impasse
It seems that with the continuation of this trend, there will likely be a drop in exports or prices
Petrotahlil-While Urea rate descending since a month ago, Iran could not benefit from rising global rates because of sanctions, so that KSA closed its Urea deals at 340 USD per ton, but Iranian Urea maker ;SPC(Shiraz P.C.), ZPC(Razi P.C.),KPIC(Kermanshah P.C.),PAUPC(Pardis P.C.) and KHPC( Khorasan P.C.) Petrochemicals were satisfied at 255 USD/MT in the most.
According to Petrotahlil this is while the global market keeps falling and price of urea in Iran will decrease by the same difference accordingly about 60 to 70 USD/MT.
Although previous sales of Urea are being carried, most foreign buyers are not accepting Iranian ships and shipments, and bank transfers in the UAE have stopped, while the lack of available overseas bank accounts is quite evident.
It seems that with the continuation of this trend, there will likely be a drop in exports or prices
Of course, the only winning sheet for Iranian Urea makers is achievement the price of agricultural urea fertilizer to IME rate and presenting it on stock which could make the stock growth for urea makers.
