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StoneX reports that global urea prices have declined faster and earlier than expected, and the market has not yet entered its usual summer lull in demand. The analyst expects continued pressure from production, the return of Chinese exports and weak demand.
Manufacturers may cut output for repairs, which could set a short-term floor.
Returning Chinese export supply and weak demand are pushing urea lower, but possible production cuts could limit the decline. Buyers should expect volatility around any supply disruptions.
stonex.comJosh Linville1 may 2024stonex.comJosh Linville29 abr 2024Tras 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.
Dated on the move date, it reports prices falling faster than expected, with the return of Chinese exports and weak demand adding pressure, which is consistent with continued selling.
StoneX expects continued downward pressure from production, returning Chinese exports and weak demand, reinforcing bearish sentiment around the date of the drop.
