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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 ott 2024Dopo 81 eventi commercio ribassista passati, Urea si è mosso in mediana di -1,0% in 5 sedute (28% in rialzo; metà centrale da -7,2% a +0,4%), e di -5,5% in 20.
Dopo 40 eventi commercio ribassista passati, DAP si è mosso in mediana di -0,1% in 5 sedute (38% in rialzo; metà centrale da -3,7% a +0,5%), e di -2,4% in 20.
Variazioni del benchmark di ciascuna materia prima rispetto all'ultima chiusura prima dell'evento. Le letture storiche raggruppano eventi passati dello stesso tipo; descrivono ciò che è accaduto, non ciò che accadrà. Non è consulenza di investimento.
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.
