China: CNIFA pressure to block low priced urea sales to STC mounts

摘要

The China Nitrogen Fertilizer Industry Association continues to apply significant pressure on producers not to succumb to traders' calls for cover in the low to mid $250s/mt FOB for prilled urea. That level is assessed necessary for the traders to generate a margin on possible Indian sales basis the STC counter-bids at $266- 270.22/mt CFR pursuant to the Indian importer's April 10 tender. The efforts appear to have been successful to date.