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China is again selling urea into export markets after largely retreating earlier in 2018, pushing Gulf urea prices down $3 to $285.45 per tonne, about $22 below mid-October highs. Ammonia prices held steady over Thanksgiving week but are expected to ease into winter, and Chinese plants have cut output to curb pollution and due to lost natural gas feed.
Renewed Chinese urea exports add supply to the world market and offset some of the tariff-related pain in trade, pressuring global nitrogen prices lower. Any further plant curtailments in China could limit that downside.
vinachem.com.vnNov 30, 2018vinachem.com.vnNov 30, 2018After 81 past bearish trade events, Urea moved a median -1.0% over 5 sessions (28% higher; middle half -7.2% to +0.4%), and -5.5% 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.
