Loading…
India's National Fertilizers Limited issued a tender for urea shipments through 29 February, closing 4 January. Latin American demand was weak and Brazilian buyers had been hit by poor weather, with cfr values at best stable and Turkish business concluded around $340/t cfr.
A sizeable Indian import tender adds buying interest at a time of light offseason demand in the US, Europe and Brazil, which should help firm urea prices into early 2024.
profercy.comChris YearsleyDec 21, 2023After 176 past bullish trade events, Urea moved a median +0.1% over 5 sessions (51% higher; middle half -1.3% to +2.4%), and +1.6% over 20.
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.
