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India's state-run FACT scrapped its third ammonia purchase tender in four weeks, seeking about 7,500 tonnes for late Q3 delivery to Kochi, after all offers were rejected as too high. Separately, MMTC revised its 30 July urea tender addendum so that Chinese urea can be offered through traders without DPIIT registering for each sub-contractor.
Repeated tender failures on high offers signal firm nitrogen prices and cautious Indian buying, which can keep urea and ammonia offers elevated. Opening the tender to Chinese urea via traders could add supply and ease pressure on prices.
news.agropages.comAug 3, 2020After 176 past bullish trade events, Urea moved a median +0.1% over 5 sessions (51% higher; middle half -1.3% to +2.4%), and +1.6% 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.
MMTC's addendum clarifying that Chinese urea can be offered via traders supported Indian import demand and tender activity, reinforcing the price move.
MMTC's addendum allowing Chinese urea via traders clarified supply access, but the ongoing tender dynamics around Indian buying kept the market focused on tight supply and volatility.
