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Indian Potash Limited's 20 October urea tender drew confirmations for just under 1.7 million tonnes at $400-404/t CFR for December shipment. Middle East material supplied at least a third of the volume at netbacks in the mid-to-high $380s/t FOB, and Indonesian export licences added about 200,000 tonnes.
Producers had earlier targeted over $400/t FOB, and African suppliers were less keen on India.
A large Indian purchase that still came in below producer targets suggests urea prices will soften after the tender, which pressures nitrogen costs for feed-grain and forage growers.
profercy.comChris Yearsley27 de out. de 2023Após 81 eventos baixista de comércio passados, Ureia subiu em mediana -1,0% em 5 sessões (28% de alta; metade central de -7,2% a +0,4%), e -5,5% em 20.
Variações do benchmark de cada commodity desde o último fechamento antes do evento. As leituras históricas agregam eventos passados do mesmo tipo; descrevem o que aconteceu, não o que vai acontecer. Não é recomendação de investimento.
