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Urea trade has been subdued since India's 8 July tender, which secured 433,500 t, mostly on the east coast at netbacks up to the high $340s/t FOB. Little firm inquiry followed, and Latin American buyers have held back.
Producers are waiting for India's August tender and possible Pakistan and Nepal business, with China still absent from the export market.
Limited availability and buyer hesitation have kept global urea values roughly flat, so prices are unlikely to move much until a new tender or Latin American demand appears. Chinese export absence continues to limit supply.
profercy.comChris YearsleyJul 19, 2024Not 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.
