China’s urea futures in Zhengzhou surge by daily limit
COMMODITIES
China’s urea futures in Zhengzhou surge by daily limit
COMMODITIES

China’s urea futures in Zhengzhou surge by daily limit

 

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China’s most-traded urea futures contract on the Zhengzhou Commodity Exchange, for September delivery, hit limit-up and surged by 8% to hit 2,335 yuan per tonne at one point, before paring gains to 6.6%.

The August, October, November, December and January contracts all hit limit-up at one point, before paring gains to 5% – 7%.

Meanwhile, shares of Chinese fertilizer producers also stage a strong rally, with an index tracking the sector, compiled by Wind Information, surged by 1.4% on Wednesday, making it one of the best-performing sectors in the A-share market.