Laden…
Urea prices edged up after a successful India tender, with Egyptian sellers concluding smaller cargoes to Europe at USD 393/tonne FOB and Dangote reportedly selling cargoes in the mid-to-high USD 340s FOB. Southeast Asian urea sales were reported in the low-to-middle USD 360s FOB, while Indonesian exports remain absent.
Suggestions of a large Chinese oversupply raise the prospect of renewed Chinese exports.
Tender-driven demand is lifting urea prices, but a possible return of Chinese export volumes could cap gains and pressure prices in the coming months. Buyers should expect firm nitrogen costs near term with downside risk if China resumes exports.
czapp.comStein Chingen Haugan23 dec 2024Na 176 eerdere opwaarts handel-gebeurtenissen bewoog Ureum zich mediaan +0,1% over 5 sessies (51% hoger; middelste helft -1,3% tot +2,4%), en +1,6% over 20.
Bewegingen van de benchmark van elke grondstof sinds de laatste slotkoers vóór de gebeurtenis. Historische waarden bundelen eerdere gebeurtenissen van hetzelfde soort; ze beschrijven wat er gebeurde, niet wat zal gebeuren. Geen beleggingsadvies.
A successful India tender and firmer FOB offers from Egypt, Nigeria and Southeast Asia point to stronger demand and a price uplift, though the note describes only a modest gain and flags Chinese export risk, and it predates the move by a few days.
