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India's IPL urea tender for 78,000 tonnes for mid-May shipment drew limited participation, with offers from four companies. The lowest offer was $716.50 per tonne CFR east coast from OQ Trading, well below earlier levels.
Urea fob values have fallen nearly $300 per short ton over four weeks from a late-March record in the US Gulf as most buyers defer purchases.
Lower tender offers and weak buying signal a sharp retreat in nitrogen prices from the wartime peak, reducing input costs for fertilizer-exposed crop production. Continued purchase deferrals could keep prices under pressure.
profercy.comChris Yearsley26 abr 2022Tras 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.
Limited participation in the IPL tender and low offers, with most buyers deferring purchases, pushed fob values down nearly $300/st from the late-March record.
IPL tender drew limited participation with offers far below earlier levels, and buyers deferring purchases pushed urea fob values down sharply, which directly fits the one-day price drop.
The IPL tender drew limited participation and low offers while most buyers deferred purchases, putting further pressure on fob values (published 26 April, just before the window).
Limited IPL tender participation and low offers, with buyers deferring purchases and fob values down nearly $300/st from the March record, built the downward pressure that carried into the 29 April drop.
