STC cancellation prompts Black Friday discount calls

摘要

The somewhat unexpected, but to a degree understandable, move by the Indian Department of Fertilizers (DoF) instructing STC not to proceed with procurement pursuant to the November 16 tender sent ripples of price negativity through urea markets November 22 and November 23. Global buyers were quick to point out that the 830,000 mt lined up by STC to load by December 30 will need to find alternative outlets - and to do so quickly.