Firmer urea undertone despite low MMTC procurement

摘要

Purchases of a mere 372,000 t urea to load by May 17 via the April 3 MMTC tender in India were interpreted in different ways by market bulls and bears, but the bulls are firmly in the lead. The Indian importer would likely have been willing to proceed with purchases of more than 500,000 t if product had been made available basis the counters provided, but the low price available for just 30,000 t for West Coast India (WCI) discharge discouraged potential suppliers from chasing additional sales. A follow-up tender is expected, but yet to be confirmed.