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Russian producer Acron's 9M 2020 results show UAN output down 30% year on year to 921,000 t, while ammonium nitrate output rose 12% to 1.83 million t. Net merchant AN availability rose 27% to 1.66 million t, and the company switched more feedstock into urea and AN.
Higher merchant availability of AN and urea adds supply to a market where domestic and export demand has been strong. This is mildly bearish for nitrogen prices, though strong demand has limited the impact so far.
profercy.comChris YearsleyOct 30, 2020After 42 past bearish report events, Urea moved a median +0.3% over 5 sessions (57% higher; middle half -1.9% to +3.3%), and +2.9% 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.
