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China announced it will resume export of 7 million tonnes of DAP and MAP from March 15 under a quota. Separately, US urea prices rose by about USD 27/tonne on tight supply, and Brazilian and Egyptian urea offers also firmed.
The Chinese export quota adds sizeable phosphate supply, which should pressure DAP prices, while tight US urea supply and firm offers from other origins support nitrogen prices.
czapp.comStein Chingen Haugan4 mar 2024Tras 50 eventos bajista de política pasados, DAP se movió una mediana de +0,9 % en 5 sesiones (62% al alza; mitad central entre -0,1 % y +1,6 %), y +0,9 % en 20.
Tras 129 eventos alcista de política pasados, Urea se movió una mediana de -0,1 % en 5 sesiones (47% al alza; mitad central entre -1,3 % y +2,3 %), y +1,4 % en 20.
Variaciones de la referencia de cada materia prima desde el último cierre antes del evento. Las lecturas históricas agrupan eventos pasados del mismo tipo; describen lo ocurrido, no lo que ocurrirá. No es asesoramiento de inversión.
China's announcement on 2024-03-04 of a 7 Mt DAP/MAP export quota resuming March 15 is a major supply and trade-flow signal that could trigger sharp repricing, though easing supply would normally be bearish, so the direction of the +6.55% move is not clearly explained and may reflect a rush to cover ahead of or amid the clarity.
