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India's state agency MMTC issued its ninth urea purchasing tender of the current campaign, for shipment by 6 January 2021, with bids closing 1 December. The campaign has booked over 7.67 million tonnes since April, and strong demand has been driven by labour returning home during Covid-19 and a good monsoon.
Urea prices firmed globally ahead of the tender, with Egyptian and US Gulf values rising.
A large Indian tender pulls supply from exporters and tightens the global urea balance, supporting nitrogen prices for feed and grain producers. Buyers should expect firmer urea pricing into the bid period.
profercy.comChris Yearsley23 de nov. de 2020Após 176 eventos altista de comércio passados, Ureia subiu em mediana +0,1% em 5 sessões (51% de alta; metade central de -1,3% a +2,4%), e +1,6% 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.
India's ninth MMTC urea tender (bids closing 1 Dec) after 7.67 Mt already booked signals strong import demand, and urea values firmed globally ahead of it, which is a direct trade-flow driver of the jump.
