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South Korea is facing a shortage of urea solution used in diesel vehicles, with truck drivers queuing at gas stations. The shortage follows China's restrictions on urea exports since mid-October, which were linked to a coal supply crunch, and South Korea sourced 97.6% of its urea imports from China in the first nine months of the year.
Chinese export curbs tied to an energy shortage tighten global urea supply, supporting nitrogen fertiliser prices and reinforcing the cost pressure on farm inputs.
en.yna.co.krOh Seok-minNov 14, 2021After 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.
After 65 past trade events, DIESEL moved a median -1.2% over 5 sessions (43% higher; middle half -5.2% to +2.6%), 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.
