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The Profercy World Nitrogen Index recorded its largest weekly gain on record, reaching 253.04, a level last seen in May 2012. Southeast Asian urea sold near $530/t fob, and India issued a purchase tender while Chinese export offers were withdrawn under new inspection rules.
Chinese export curbs and a large Indian tender point to sustained import demand for urea, supporting global nitrogen prices and raising costs for fertilizer-dependent grain production.
profercy.comChris YearsleySep 24, 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.
Record weekly gain in the nitrogen index, withdrawn Chinese export offers and an Indian tender show tight global urea trade flows.
Record weekly gain in the nitrogen index, withdrawn Chinese urea export offers under new inspection rules and an Indian tender tightened global urea availability and supported price momentum.
