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Urea prices dipped in several regions as India's anticipated purchasing tender remained unannounced, with the delay possibly linked to Diwali. Egyptian urea fell USD 12-17/tonne to USD 390-395/tonne FOB, and Brazilian buyers held back from larger purchases.
DAP prices were also reported falling as India's Rabi season ends.
Buyers are waiting on India's tender, which would likely set December shipment demand, so the uncertainty is pressuring urea and DAP prices lower in the near term. Until the tender is announced, weaker nutrient prices could ease input costs for feed-grain producers.
czapp.comStein Chingen Haugan28 Okt 2024Setelah 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.
Setelah 40 peristiwa perdagangan bearish sebelumnya, DAP bergerak median -0,1% selama 5 sesi (38% lebih tinggi; separuh tengah -3,7% sampai +0,5%), dan -2,4% 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.
India's delayed urea tender removed an expected demand catalyst, pushing Egyptian FOB urea down USD 12-17/t and Brazilian buyers to hold back, a direct sentiment and demand driver of the price drop.
India's delayed urea purchase tender removed an expected demand catalyst, pushing Egyptian FOB urea down USD 12-17/t and Brazilian buyers to hold back, a trade-flow and sentiment driver of the weakness leading into Nov 1.
