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The Profercy World Nitrogen Index fell 3.06 points to 181.47, its first decline of 2021, as urea values softened, particularly in the east. Activity stalled while buyers awaited the outcome of India's urea tender, which drew acceptances of just over 1.3m tonnes, mostly to be supplied from China.
Prices also fell in the Baltic and the Middle East as sellers lowered expectations to secure orders.
India's need to import more urea in Q2 supports demand, but thin activity elsewhere has pushed prices lower. Feed buyers should expect urea costs to ease in the near term while the Indian tender is absorbed.
profercy.comChris Yearsley26 Mar 2021Setelah 81 peristiwa perdagangan bearish sebelumnya, Urea bergerak median -1,0% selama 5 sesi (28% lebih tinggi; separuh tengah -7,2% sampai +0,4%), dan -5,5% 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.
