Nitrogen Index makes biggest weekly increase in close to six months with urea markets firm

The 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…

Urea market awaits outcome of latest Indian purchasing tender – 2.7m. tonnes offered into latest inquiry

National 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…

China: Industry body unveils action plan, call for reduced urea exports met with muted international response

Urea export availability from China has played a major role in shaping global market movements in the second half of this year. Indeed, inspection controls have waxed and waned in tandem with domestic market movements. Most notably, in August and September domestic and international traders faced more onerous CIQ inspections in the wake of 1.1m.…

Urea: China’s comeback aids India in securing 1.76m. tonnes, undermining bull rally and raising doubts over Q4 support levels

IPL made light work of securing a multi-year record volume through the latest import tender, almost exclusively owing to China’s return to the international stage. As much as 1.1m. tonnes of urea has been committed to India from China for shipment by 26 September, signaling the most significant export business since September 2021, when over…

Bullish sentiment persists; urea values rally buoyed by supply challenges, Indian demand and strong energy and grain fundamentals

Urea values stepped up another level in trading early this week, prolonging a rally that began mid-June and shows no signs of easing in the near-term. In latest business, Egyptian granular urea has traded at $450pt fob, up more than $165pt in a little over six weeks. Producer price ideas have now moved on with…