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India's RCF urea tender closed on 3 October for shipments to 20 November, coinciding with escalating Middle East tensions that lifted derivatives and physical offers. Egyptian granular urea rose $17/t in under five days to about $387/t FOB, and US Gulf barge prices exceeded $330/t FOB Nola for the first time since June.
Middle East suppliers are the primary source for India, so risk to those cargoes and the firm tender outcome support higher global urea prices and nitrogen input costs.
profercy.comChris Yearsley4 Okt 2024Setelah 205 peristiwa geopolitik bullish sebelumnya, Urea bergerak median +0,4% selama 5 sesi (53% lebih tinggi; separuh tengah -2,1% sampai +3,0%), dan -0,4% 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.
The Indian tender and Middle East tensions lifted physical offers and NOLA barge prices, but the article is dated Oct 4, after the move, so it is a partial confirmation.
