The latest tender by state purchasing agency MMTC has resulted in over 1.7m. tonnes of urea being booked, the largest volumes secured by India in a tender since November 2019, when just over 1.75m tonnes was purchased. This is the first time during this campaign that over 1m. tonnes has been booked. With urea prices…
European nitrate producers look to emerge from the summer harvest period with a buoyant global nitrogen complex led by the recent rallies in urea prices. Indeed, despite August being the slowest month of the year in terms of activity for European nitrates, producers have moved to increase prices. This week Yara announced a new price…
The catastrophic explosion of just under 3,000t of ammonium nitrate that had been abandoned in a Beirut port warehouse 6-7 years ago has caused worry among AN producers that tighter regulations, or even bans on the product, could follow. Indeed, at a time when urea values are surging, AN prices have been static over the…
The Profercy World Nitrogen Index continues to surge ahead, last week increasing by 6.03 points to 117.45, registering gains that were last seen in August 2018. The increase is primarily down to advancing urea values in the east and west. With India securing just short of 700,000t of urea through the 30 July tender, and…
It has been a tumultuous week in the global urea market. Sentiment early in the week was rocked by international relations with new public procurement rules in India potentially blocking Chinese urea in the latest MMTC purchasing tender. As a consequence, derivatives markets were volatile with September Brazilian contracts trading up to $270pt cfr on…
The Profercy World Nitrogen Index has increased by 2.59 points to 106.63 this week, buoyed by strong price gains in the urea market. India forced to return to the market for August shipments With India massively short of urea, another tender was announced by state purchasing agency MMTC just five days after closing its previous…
State purchasing agency MMTC closed a purchasing tender today for urea, receiving lowest offers marginally above the earlier RCF inquiry. While over 2m. tonnes were offered, the lowest offers on the east coast are likely to present challenges for the state agency in securing more than the 630-750,000t booked via recent tenders. The lowest offers…
India has once again returned to the international market with MMTC due to close a tender 17 July for urea for shipment by 20 August. This will be the fourth import tender of the current campaign, which began in April, and has been announced only a matter of weeks after the conclusion of the earlier…
Analysts continue to promote the view that fertilizer demand is being hit hard by the Global economic slowdown. This does not appear to be the case for urea, the most widely used nitrogen fertilizer. India, the second largest market worldwide has seen spectacular sales growth this year, a 66% increase in Q2 2020 to 6.5m.…