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Ind-Ra says higher term-LNG and spot LNG prices, driven by Chinese purchases, are raising natural gas costs for Indian urea producers. Global urea prices have fallen to $200-225/t from $320/t in October 2014 amid a projected global nitrogen surplus of 15 million tonnes in FY18.
Rising gas costs can squeeze production margins and curtail output, but a large global surplus and India's planned import cuts keep downward pressure on urea prices.
business-standard.comCapital MarketMar 9, 2018After 10 past neutral macro events, UREA moved a median -0.3% over 5 sessions (40% higher; middle half -0.7% to +2.5%), and -3.9% over 20.
After 155 past bullish macro events, NATGAS moved a median +0.1% over 5 sessions (51% higher; middle half -4.0% to +7.1%), and +2.0% 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.
