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State buyer RCF issued an urea import tender in India on 21 March, closing 30 March, with shipments required by 5 May. India then announced a nationwide lockdown and several Indian ports issued force majeure notices, but the tender was still expected to proceed.
Global urea demand has been weak, and North African producers cut prices by $15-20/t to find liquidity.
A large Indian import tender would normally support urea prices, but weak importer demand, port disruption and force majeure notices are pulling the other way. Expect soft offers in the near term unless the tender draws strong bids.
profercy.comChris Yearsley27 mar 2020Tras 81 eventos bajista de comercio pasados, Urea se movió una mediana de -1,0 % en 5 sesiones (28% al alza; mitad central entre -7,2 % y +0,4 %), y -5,5 % 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.
