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South Korean diesel drivers began panic buying urea after China's customs introduced a new export requirement that effectively halted Chinese exports. Nearly 97% of South Korea's urea imports came from China between January and September.
Chinese export restrictions remove a major supply source from world urea markets, supporting higher global nitrogen prices and feeding through to fertilizer and crop input costs.
reuters.comHeekyong YangNov 11, 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.
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.
