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Iranian urea producers sold 50,000 t to China for October delivery at the low-$230s/t FOB, $20-25/t below prices achieved in the early-August Indian tender. Iranian suppliers have reportedly not yet been paid for earlier shipments, and producers fear US sanctions will block future sales to India.
Sanctions risk removes a major supplier from India's import tenders and makes Iranian product trade at a discount, which supports Middle East urea prices that remain well above Iranian levels.
profercy.comChris YearsleyAug 24, 2018After 205 past bullish geopolitics events, Urea moved a median +0.4% over 5 sessions (53% higher; middle half -2.1% to +3.0%), and -0.4% 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.
