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Large granular urea fell about 10% in Europe, the US and the Middle East as traders and producers pushed to secure sales. Asian prices eased less, held back by weak Southeast Asian orders and high Chinese domestic prices.
Demand remained weak in February, and traders' sentiment stayed negative.
Oversupply and sluggish buying are pressuring global urea prices lower, which reduces nitrogen input costs for fertilizer buyers. Prices may stay under pressure until India's expected tender and seasonal demand arrive.
chemanalyst.comFeb 21, 2023Not 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.
