Profercy World Nitrogen Index

Profercy’s Nitrogen Index utilizes key global nitrogen fertilizer prices to derive a value for nitrogen as a crop nutrient. The Index provides a useful and straightforward tool to gauge the overall health of the World market for nitrogen fertilizers.

For the latest detailed market analysis on global urea, ammonia, nitrates and ammonium sulphate, you can sign up for a no-obligation trial of the Profercy Nitrogen Service. To do so, please click here.

 

Market Status: FIRM Week 42 – 19/20 October 2017: Nitrogen Index sets new high for 2017

Global nitrogen prices continue to be bolstered by the firm nature of the urea market. Urea supply for November shipments is tight at a time when heavy demand has been evident from both Brazil and India. India’s latest urea purchasing tender secured a modest 426,000t with prices well up on the last tender in September.

Iranian and Chinese product dominated the tender with Middle East suppliers skipping the business in pursuit of higher returns elsewhere. This said, Iranian suppliers did not aggressively chase the business in India, with a number of November cargoes now committed to other markets. Chinese exports are still slow compared to previous years with operating rates low and domestic prices offering better returns than the international market.

Black Sea prilled urea prices provided a major boost to the Index this week, rising more than $10pt. UAN markets are also firm, with the product still appearing undervalued compared to urea. FSU AN producers have held prices while ammonia values have tracked sideways.

The Index has now set a new high for 2017 of 134.45. This is 2.29 points above the early February level of 132.16 when Black Sea prilled prices were around $255pt fob and Egyptian granular urea was below $285pt fob. Ammonia prices are currently well below those seen in February, when Black Sea values were around $320pt fob.

For a detailed overview of the latest developments in global nitrogen markets, as well as the latest regional market analysis and price assessments, you can receive a free trial of the Profercy Nitrogen Service by clicking here.

The Index is updated each week. An overview of the methodology can be found here.

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Urea: A brief price history since 1970

To coincide with the publication of Profercy’s latest long term report, an article outlining urea price developments since the 1970s and the factors causing the decline in urea prices since 2011 can be found here.