PWNI climbs on bullish factors despite small Indian purchase

The Profercy World Nitrogen Index increased this week as the urea market sidestepped the Indian tender results in favour of bullish upstream and downstream factors, as well as logistical considerations. The latest purchasing tender by India‚Äôs MMTC resulted in just 550,000t booked. This would have ordinarily been considered a very bearish outcome. Indeed, the last…