# Urea markets rebound, driven by short covering and gas concerns in the west

> Urea values rebounded sharply the week of June 24, with Egyptian granular fob rallying over $100/t to $740/t after a correction that began in April. Producers in North Africa, Nigeria and elsewhere built order books for the next 30-45 days, with Egyptian suppliers placing over 120,000t for July shipment.

- Date: 2022-06-24 · published 2022-06-24T12:00:00.000Z
- Category: market · region Global · magnitude medium
- Page: https://feedsoft.ai/events/41245-urea-markets-rebound-driven-by-short-covering-and-gas-concerns-in-the-west
- Commodities: [Urea](https://feedsoft.ai/c/UREA.md)

## Why it matters

Firmer European gas prices and short covering by traders are lifting nitrogen values, which signals that fertilizer costs for feed grain production may stop falling. Gas is the main input cost, so renewed European gas strength supports urea and ammonia prices.

## Read by commodity

- UREA: bullish ▲

## Sources

- profercy.com: https://www.profercy.com/insights/urea-markets-rebound-driven-by-short-covering-and-gas-concerns-in-the-west

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.