Chinese domestic urea prices received a boost following acceptances of 2.2 Mt in RCF’s October 9 tender. Delivered port prices increased by RMB 50/t ($7.5/t) to RMB 1,720-1,730/t CPT ($258-260/t) early this week from RMB 1,670-1,680/t CPT ($249-251/t) October 16. Such prices suggest an equivalent export price of $266-267/t FOB, excluding a trader margin.
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