Massive volume on offer to STC raises concerns

摘要

Even the most seasoned observers were amazed at the massive 2.145 million mt urea offered by producers and traders in the July 21 STC tender in India. While duplication and short positions are undoubtedly included in the proposals submitted, the quantity nevertheless illustrates significant market length. This defies widespread predictions of a tight urea market going into Q3, undermining attempts to project short supply due to limited Chinese and Iranian availability.