Aggressive Chinese urea offers influence market sentiment

摘要

Discounts of more than $15/t on offer from prior quotes from Chinese suppliers for urea to load after the August 16 MMTC shipment deadline contributed further to negative market sentiment that was already evident as last week ended. Limited domestic demand in China and the deteriorating value of the RMB versus the US dollar triggered the moves for cargoes to be loaded at the end of August and into September.