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India's urea tender bought about 950,000 tonnes, above expectations, with the Arab Gulf offer at $254/tonne FOB. China's participation was limited to about 100,000 tonnes versus 850,000 in the previous July tender, due to production cuts ahead of its National Day celebrations.
Large Indian buying has steadied global urea prices, but thin margins, higher freight after the Saudi attacks, and weak Chinese participation leave the outlook uncertain and suggest limited upside for urea and related nitrogen costs.
vinachem.com.vnSep 23, 2019After 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.
