China bans urea exports. Urea is made from ammonia and hence the demand is likely to rise (ammonia is raw material for urea). Should impact ammonia price and get the run up. I was able to track the latest price of ammonia at 300USD (was at 350 USD in August End) Middle East FOB. Check screenshot attached. This all is being reflected in price action.
I still think because of high gas prices, the prices need to touch upwards of 400-450 so that the ammonia plant starts making sense.
Sources:
Ammonia Price - Indian Petrochem Database (You can get a trial subscription for 5 days, otherwise it’s 5K)
China Ban News - Bloomberg
Disclosure - Invested
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