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India's MMTC received offers for 2.434m tonnes of urea in its latest purchasing inquiry, with lowest offers $5-7/t above the previous RCF tender. Shipment is intended through 6 January 2021, and counter offers were issued at the lowest offer levels.
Higher lowest offers from suppliers in a large Indian tender signal firmer global urea pricing and a tighter netback for exporters.
profercy.comChris YearsleyDec 1, 2020After 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.
