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A Q2 review says urea and DAP were volatile, while MOP stayed mostly stable. Urea ended the quarter near USD 380 CFR, up 3.8% on the quarter after Egyptian plants closed on gas shortages.
Container freight rates rose 2-3 times, and Chinese urea exports remained halted until at least August.
Egyptian gas-related outages and Chinese export halts support urea prices, and higher freight adds to delivered costs for importers.
chewachem.comMark LeonardJul 5, 2024Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
