China reopens urea exports with $660/t price floor

China has reopened urea exports with a minimum price floor of $660/t, reasserting state control over global nitrogen trade flows just as Northern Hemisphere demand peaks, according to trade reporting from Profercy.

The minimum-price mechanism caps how aggressively Chinese tonnes can undercut international spot levels, tempering the relief that buyers had expected from a Chinese return. Latest reports indicate that direct business with India, by far the largest offshore market for prilled urea, may now be permitted, but with minimum prices set $20/t above those for other destinations.

Chinese urea exports recovered to 4.89 million tonnes in 2025, the largest volume committed offshore since 2021, after falling close to zero in 2024 when sales to India were officially restricted. Beijing has kept a tight grip on all fertilizer exports since late last year, extending controls to NK compounds in the first quarter, maintaining strict management of phosphate exports, and tightening inspection requirements for ammonium sulphate shipments.

The reopening lands alongside two other swing factors traders are watching: the timing of the next Indian tender and any reopening of the Strait of Hormuz. With a floor in place, the scale of price relief for importers will depend on how much volume Beijing ultimately clears for export.

Source: Profercy