On April 23, sources reported that in the most recent tender completed in April, India procured 2.5 million tons of urea at nearly double the price paid two months ago. This transaction may further exacerbate the already tight global urea supply situation. According to reports, the volume of urea purchased in this deal is the largest in India's history. Chempricehub assesses urea with a bullish/bearish score of 2. India's procurement of 2.5 million tons of urea at nearly double the price sets a new historic record, reflecting surging demand and worsening global supply tightness, which is expected to significantly boost urea spot prices. Based on urea futures data, recent major contracts such as 2609 (closing price of 2015 CNY/ton, change +36.00, open interest increase of 30,164 lots) generally show price increases and higher trading volumes, indicating strong bullish market sentiment. This event may further stimulate long-side confidence, reinforce the upward trend in futures prices, and benefit the overall urea market outlook.
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