date: 16 December 2020
UREA (GRANULAR) FOB MIDDLE EAST FUTURES (CONTINUOUS: CURRENT CONTRACT IN FRONT)
After decreasing 38% of urea price from 340 USD/MT, the increasing trend started again from 210 USD/MT. nowadays, the price is at resistance region (Blue box). At this point, the price range 273-288 USD/MT is crucial and if the price passes this range, it is expected that it reaches 320USD/MT in midterm and 387USD/MT in longterm.