Pakistan Fertilizer: Rising Intl. urea prices but re-ignition of closed capacity would limit gains – By Insight Research

<ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Price differential between local urea prices and imported currently stands at PKR~500/bag, highest since Feb 2015, despite ~PKR200/bag increase in prices to PKR1,610/bag post end of subsidy announcement in budget FY2018-19. The reasons are PKR devaluation and higher international urea prices of US$280/ton, levels last seen in Aug 2015 which can mainly be attributed to lower Chinese supply amid environmental regulations and rising coal prices lifting breakeven levels of Chinese coal based urea plants.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Local urea inventory situation has also turned to local manufacturers&rsquo; benefit as current urea inventory is estimated at ~0.1m tons as at July 2018 vs. ...