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Pakistani urea sales fell 21% month over month in January 2019 to about 564,000 tons, mainly due to seasonal slowing of sowing. Sales were up 5% year over year, and urea inventory dropped 59% to 71,000 tons.
DAP stocks stood at 488,000 tons.
Seasonal demand declines reduce near-term urea import needs in Pakistan, which is bearish for regional urea prices. The sharp drop in inventories partly offsets that pressure.
tribune.com.pkOur CorrespondentFeb 25, 2019After 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.
After 38 past neutral report events, DAP moved a median +0.5% over 5 sessions (61% higher; middle half -0.5% to +1.6%), and +3.9% 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.
