India re-enters the urea market with latest purchasing inquiry following three month absence

After more than three months since India’s last urea purchasing inquiry, the world’s largest urea importer announced a fresh tender late last week. The country’s state purchasing agency RCF is set to close the tender on 22 March for shipments to 28 April. For the most part, activity in the urea market was muted this…

Capro prices ease for the first time in 5 months as Chinese compactors struggle

Amsul markets have eased for the first time since October. Throughout that time, capro amsul prices have been on an uninterrupted price run, increasing from under $110pt fob China to the low/mid-$150s pt fob. The decline comes as Chinese compactors face significant price pressure. Producers sold compacted amsul forward late last year basis standard capro…

PWNI continues to ascend with US Gulf urea values hitting highs seen nearly 7 years ago

The Profercy World Nitrogen Index has climbed further and continued in the same manner seen since the beginning of 2021, with urea values making gains across several regions this week. The one exception was China, where export values for both prilled and granular urea came under pressure earlier this week. With domestic demand remaining slow…

PWNI hits fresh new highs; US UAN values rise sharply as producers return to market post-cold snap

Values for most products across the nitrogen complex have ramped up further this week resulting in the Profercy World Nitrogen Index hitting highs that were last seen 7 years ago. In the ammonia market, prices continue to race ahead with the latest sale in Yuzhnyy $30-40pt up on last week, while the March Tampa contract…

Firming nitrogen markets continues to push Profercy World Nitrogen Index to new highs

With prices for most nitrogen-based products remaining firm this week, the upwards momentum continues to be seen on the Profercy World Nitrogen Index with values reaching close to 175 points, levels last seen over six years ago. In the urea market, following two weeks of illiquidity in Egypt, sales took place at higher levels by…

US Gulf urea values recover as gas diversions and production cutbacks bring producers to the market; activity elsewhere limited

While activity across the global urea market was muted for the most part this week, the US has been the exception. With freezing temperatures currently being experienced in the country’s Midwest and gas prices sky-rocketing, nitrogen producers have scaled back production. Producers have been able to sell gas back into the market at a notable…

Financial Results: CF Industries Q4 urea sales up, UAN down; Nutrien’s total 2020 Nitrogen sales hit record high

CF Industries this week announced net earnings of $87m during Q4 2020, up from $55m in Q4 2019, while it’s EBITDA was at $334m, an increase from $306m. The firm’s full year 2020 earnings declined to $317m, while EBITDA also fell to $1,316m, compared to 2019 net earnings of $493m and EBITDA of $1,620m. Net sales…