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India's state buyer RCF issued a urea import tender on 30 September, closing 9 October for shipment by 16 November, the first since the 26 August MMTC tender. The Profercy World Nitrogen Index held near 113.84 as the market reacted muted, while Chinese prills sold below $255/t fob and Egyptian granular urea fell to about $250-260/t fob.
India's return to the import market is a major source of urea demand, which normally supports export prices. Muted reaction and ample Chinese availability limit the near-term upside for urea prices.
profercy.comChris YearsleyOct 2, 2020After 23 past neutral trade events, Urea moved a median 0.0% over 5 sessions (48% higher; middle half -1.1% to +1.0%), and +2.8% 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.
