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China’s urea supply remained high as plant utilization increased and producer inventories grew, while demand from fertilizer and melamine producers was weak. India’s previous tender secured 410,000 tonnes against a planned 1.7 million tonnes, prompting expectations of another tender; no new tender had been announced yet.
Weak domestic demand and rising inventories are bearish for urea, but the prospect of Indian export demand and firm coal costs may limit declines. Prices could respond to the scale and timing of a new tender and domestic reserve buying.
quheqihuo.comNov 9, 2026After 81 past bearish trade events, Urea moved a median -1.0% over 5 sessions (28% higher; middle half -7.2% to +0.4%), and -5.5% 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.
