Granular and prilled urea prices under pressure; limited end-user movement in Western markets, granular forced into other markets Chinese New Year limits price discovery over recent weeks – price changes likely in coming weeks Profercy’s World Nitrogen Index dropped a further 3.6 points this week and is now 3 points away from the 2014 year…
US barge values stable at TFI Annual Conference following $30ps ton drop since early January US still offers best returns for product arriving from the Arab Gulf Lower returns for granular urea in the West have seen Profercy’s Nitrogen Index drop 9 points since beginning of January US Gulf urea barge values have fallen by…
Reflecting the rangebound nature of global urea prices, Profercy’s World Nitrogen Index saw little change this week and moved down 0.60 points to 169.60. There have been no major price changes in the key granular urea import markets – the US and Europe. For the former, barge prices have stabilised in a narrow range having…
“The price slippage in the USA illustrates the extent to which this market supports both urea prices and supplier optimism in Q1. In the expectation that US demand for new cargoes will ease as February/March progresses, the paper market is already discounting Middle East granular prices for March.” Profercy Nitrogen Report, 15 January 2015 Profercy’s World Nitrogen Index fell…
2015 has begun as 2014 ended with global urea markets supported by a further run up in US granular urea prices. US Gulf prices have gained by 11% since mid-October. While barge levels eased back slightly later this week, the current strength in the US has provided support for granular urea producers in the Middle…
China’s long awaited export tax policy for 2015 has been announced today, confirming the move away from the use of high and low tax periods for urea and phosphates. The introduction of a flat rate tax will have a major influence on global supply and price volatility in 2015. For more information on the impact…
It has been a positive week for nitrogen prices with 6 of the 7 price ranges informing Profercy’s Nitrogen Index registering increases. This supported a 3.29 point gain for the Index, reflecting the bullish mood that is underpinning markets for major nitrogen products, such as urea, in the West. At 168.28, the Index has regained…
As the year draws to a close, we look back on two of the factors that shaped global urea markets in 2014. While this post does not cover the prospects for 2015, it is worth noting that Profercy still considers it possible that Q1 2015 will provide some price uplift for global urea suppliers. Our…
Mixed fortunes for nitrogen markets It has been another lacklustre week for global urea and ammonia markets. A number of our price quotes for global prilled and granular urea markets have either shifted sideways or eased. With ammonia markets also suffering from increasing supply levels, Profercy’s Nitrogen Index fell a modest 1.24 points this week,…
Market expects up to 1m. tonnes to be booked for shipment into January Indian April-October imports significantly down on same period last year Latest tender is the last chance for Chinese producers to commit large volumes for some time IPL will tomorrow hold a major purchasing tender to secure more urea fertilizer for India’s rabi…