Confusion over the pricing situation East of Suez has been the overwhelming topic of conversation in the merchant ammonia market over the past week, with a series of high-priced sales into China and Taiwan taking many by surprise, as did a discounted deal into India. The three sales by traders into Taiwan and China at…
DetailsProfercy’s World Nitrogen Index (PWNI) declined for the seventh consecutive week in a row, down 8.88 points week on week to 136.05 points. This is the single biggest week on week decline so far this year. Since early March, the Index has declined by a combined 31.56 points. With April through May shipments available in…
DetailsIn stark contrast to Q4 2023, global urea markets have been buoyant over the past month. Key global benchmarks in both the east and west have rallied by more than 20%, matching levels last seen in early-November 2023. A supply squeeze in the east, compounded by early demand in Oceania, as well as a round…
DetailsThe global merchant ammonia market is longer than it has been for many months and while this week’s sharp fall in the Tampa contract was widely expected, the size of the discount slightly underwhelmed some leading players. Many had expected a three-digit drop from January’s $525pt cfr rather than the $80pt slide to $445pt cfr…
DetailsIn Europe, the nitrate market feels on the cusp of a wave of demand emerging with the urea markets providing a positive backdrop for the first time since September. Producers and distributors have noted demand surfacing, with product selling at prevailing offer levels. The scale of business thus far has been modest. Still, this is…
DetailsThe Profercy Nitrogen Index has made its single biggest weekly gain since the first week of September. The start of 2024 appears reminiscent of early 2021 when the year started with a rally ahead of the Spring application period in many western markets. This is in stark contrast to the last two years (2022-2023) when…
DetailsAfter a challenging Q4, Egyptian producers have capitalised on a wave of short covering and demand for shipments to nearby markets. Over 100,000t of granular urea has been placed in 48 hours with prices rallying more than $30pt. At the start of the week, the market was on standby, awaiting news from India regarding the…
DetailsNational Fertilizers Limited (NFL) closed a tender 4 January for shipments to 29 February. Business elsewhere has largely been on hold ahead of the conclusion of the tender. Indeed, both price levels and the eventual volume booked will shape market discussions around January into February shipments. This comes as peak-season import demand is due to…
DetailsIndia has offered a silver lining to producers in what has otherwise been a cloudy week. National Fertilizers Limited today announced the widely trailed tender for shipments to 29 February. The inquiry will close on 4 January. Indeed, with Latin American demand disappointing and offseason import inquiry light in both the USA and Europe, as…
DetailsPT Petrokimia Gresik (Pupuk) held a tender for a combined 75,000t of capro amsul in three equal lots for early January onwards shipment earlier today against a backdrop of falling values in the region. The tender was inevitably going to be a major test for Chinese and SE Asian capro amsul markets with substantial implications…
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