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India's state agency MMTC issued its ninth urea purchasing tender of the current campaign, for shipment by 6 January 2021, with bids closing 1 December. The campaign has booked over 7.67 million tonnes since April, and strong demand has been driven by labour returning home during Covid-19 and a good monsoon.
Urea prices firmed globally ahead of the tender, with Egyptian and US Gulf values rising.
A large Indian tender pulls supply from exporters and tightens the global urea balance, supporting nitrogen prices for feed and grain producers. Buyers should expect firmer urea pricing into the bid period.
profercy.comChris Yearsley23.11.2020Nach 176 vergangenen Ereignisse (bullisch, Handel) bewegte sich Harnstoff im Median über 5 Handelstage um +0,1 % (51% höher; mittlere Hälfte -1,3 % bis +2,4 %) und über 20 Handelstage um +1,6 %.
Veränderungen des Benchmarks jedes Rohstoffs seit dem letzten Schluss vor dem Ereignis. Historische Werte bündeln frühere Ereignisse derselben Art; sie beschreiben, was passiert ist, nicht was passieren wird. Keine Anlageberatung.
India's ninth MMTC urea tender (bids closing 1 Dec) after 7.67 Mt already booked signals strong import demand, and urea values firmed globally ahead of it, which is a direct trade-flow driver of the jump.
