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Petrovietnam Ca Mau Fertilizer (DCM) reported that its urea exports exceeded domestic sales in the first eight months, reaching 395,090 tons, about 60% of its total urea volume. Exports ran 43.7% above the company's full-year export target.
China's supply was flagged as a key variable for the coming quarter.
A shift toward export-heavy urea sales from Vietnam adds to seaborne supply, which can weigh on global urea prices. Chinese supply levels will influence how much pressure that places on export markets.
en.vcci.com.vnAug 22, 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.
