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China's domestic urea market remains weak, with the small granule urea price index falling 0.89% day-on-day to 2,138 and down 21% year-on-year on April 2. Urea futures UR409 closed at 1,849, up 0.27%, amid poor factory orders and cautious buyers.
Supply rose slightly as production resumed after the spring fertilizer season ended.
Weak downstream demand and oversupply point to continued softness in Chinese urea prices, which can pressure global urea export pricing as Chinese exports are sought.
fdd-global.comFeidoodooApr 3, 2024Not enough comparable past events yet for a historical read.
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.
