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North African urea producers, mainly Egypt and Algeria, placed over 300,000 tonnes with traders in a few days after three weeks of thin trade. Prices were largely flat, with most larger deals concluded at a discount, while NOLA traded at $242-246/short ton FOB.
Buying to cover European and Turkish short positions and building for spring demand supports nitrogen prices, but muted demand from India, the US and Brazil caps any rally.
vinachem.com.vnJan 30, 2018Not enough comparable past events yet for a historical read.
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.
