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Higher international urea prices have prompted Chinese producers to build export sales, with about 150,000 t sold for export recently. Bangladesh's BCIC tenders have drawn Chinese cargoes, with winning offers in the low-to-mid $350s/t CFR for granular urea.
Chinese export volume adds supply to Asian urea markets, which can cap further price gains. Buyers should watch whether China's export quotas loosen further, since that would push prices lower.
profercy.comChris YearsleySep 21, 2018After 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.
