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China's CAMPA and NDRC agreed with 15 trading companies on an export quota of close to 1 million tonnes through early 2025 for product already in port. A separate producer quota of 3-4 million tonnes is expected.
Urea prices fell across the board that week, with Arab Gulf values down nearly $50/t.
Expected Chinese export volumes near historical levels add significant urea and phosphate supply, reinforcing bearish price pressure on fertilizers.
czapp.comStein Chingen Haugan27 Nov 2023Setelah 34 peristiwa kebijakan bearish sebelumnya, Urea bergerak median -0,8% selama 5 sesi (38% lebih tinggi; separuh tengah -3,3% sampai +1,8%), dan -4,5% selama 20 sesi.
Setelah 50 peristiwa kebijakan bearish sebelumnya, DAP bergerak median +0,9% selama 5 sesi (62% lebih tinggi; separuh tengah -0,1% sampai +1,6%), dan +0,9% selama 20 sesi.
Pergerakan benchmark setiap komoditas dari penutupan terakhir sebelum peristiwa. Pembacaan historis menggabungkan peristiwa serupa di masa lalu; itu menggambarkan apa yang terjadi, bukan apa yang akan terjadi. Bukan nasihat investasi.
China's export quota deal (about 1 Mt of product in port, with more producer quota expected) raised the prospect of more Chinese urea reaching global markets, and Arab Gulf prices fell nearly $50/t that week, which fits the sharp one-day drop.
