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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 nov 2020Tras 176 eventos alcista de comercio pasados, Urea se movió una mediana de +0,1 % en 5 sesiones (51% al alza; mitad central entre -1,3 % y +2,4 %), y +1,6 % 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.
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.
