The latest purchasing inquiry by India’s RCF reached a conclusion this week, with the state agency issuing LOIs for close to 1.65m. tonnes of urea for shipment by 5 July. Confirmations were submitted by participants in the tender on Monday, following counter offers being issued late last week at $716.50pt cfr west coast, and $721.30pt…
After an extended hiatus, Russian producers have re-entered the international ammonium nitrate markets. This has resulted in a major reduction in AN values on both a cfr and fob basis. The weakness in the global urea market has been the main determining factor for AN values over the last week as buyers declined to accept…
The long awaited Indian purchasing tender is finally nearing a conclusion. This week price details were announced with the lowest offers above $715pt cfr for the west coast and above $720pt cfr for the east coast. This has resulted in further declines in global fob values, but these have not been as sharp as some…
A large fall in the Tampa contract for May loadings and spot sale into Morocco from the Middle East at a hefty discount to last business underlined the ammonia market’s increasingly bearish tone as prices finally started to correct. Prices have cooled amid softening demand from industrial users in several countries, delayed orders from the…
April has been a challenging month for those holding urea. After a tumultuous March in which the market was reacting to the impact of war in Ukraine and subsequent sanctions on Russia, liquidity has since been light in the east and west. The slowdown in European and US import demand, as well as the absence…
The latest purchasing inquiry by India’s IPL for 78,000t of urea for shipment by mid-May saw limited participation, with offers received at significantly lower levels from just four companies. The relatively short shipment window and small volume sought will have limited the number of participants in the tender. Indeed, the offers were lower than many…
With India delaying its major purchasing inquiry this week, global urea values have once again eroded as buyers continue to show reluctance in committing to purchases ahead of the Indian tender. The Profercy World Nitrogen Index has made further significant declines this week as a result, falling by around 30 points. While the largest urea…
The Profercy World Nitrogen Index (PWNI) has made its first significant decline in nearly two months, dropping by over 20 points this week, with the illiquidity currently seen in the urea market bringing with it lower cfr values. Market participants continue to wait for India’s IPL to announce a fresh purchasing inquiry for shipments into…
Several major European producers have cut nitrate prices or indicated to buyers a willingness to discuss sales well below earlier official list prices. The price reductions are primarily a correction in prices that were set at a time when gas prices were surging. At the time, producers were concerned about committing product at levels that…
The Profercy World Nitrogen Index has made its first decline in six weeks, edging down by around four points as nitrates values underwent a correction this week, while urea values remained stable. A number of major European producers cut nitrates prices, or indicated to buyers a willingness to discuss sales well below earlier official list…