Profercy’s World Nitrogen Index increased by a massive 10 points this week on the back of strong gains in global urea prices. With both the US and Europe competing for urea, fob prices for Egyptian granular urea surged by $40pt. The latest Indonesian sales tender for granular product saw a price increase of over $60pt…
The Profercy World Nitrogen Index saw the biggest increase in over a year this week. With US demand and escalating barge prices attracting supply from the Middle East, Malaysia and China, global granular urea prices saw a marked increase. The key granular urea elements in the Nitrogen Index, Middle East fob and Egyptian fob prices,…
The last full week of business in 2013 has been relatively quiet. Following the run-up in prices in recent weeks, Yuzhnyy prilled urea prices and Egyptian granular urea prices fell back. Despite an increase in Profercy’s price range for Yuzhnny ammonia, the Profercy World Nitrogen Index fell back to just over 170. A more detailed…
As the holiday season approaches, this extended blog entry briefly reviews the fortunes of nitrogen products throughout 2013. Utilising Profercy’s World Nitrogen Index, the review primarily focuses on urea, which makes up the majority of nitrogen used worldwide. 2013 saw nearly 7 months of falling urea prices sandwiched between two bullish phases. For more information on…
This week saw the market respond to the supply problems seen in North Africa. With significant volumes of North African product not available to the market, buyers were forced elsewhere driving Middle East granular urea prices up by $30pt fob. The increase also supported a rise in Yuzhnyy prilled urea prices – the top end…
Profercy World Nitrogen Index up almost 4 points on last week – Urea drives index gains Swaps market sees significant offer increases for January 2014 urea – up $15pt for Middle East Urea The nitrogen market remains bullish. Urea price gains supported a more notable increase in the Profercy World Nitrogen Index this week with…
The latest agreement between Iran, the US and other UN nations could be a precursor to Iran becoming a regular participant in world trade, allowing it to export urea and ammonia free of sanctions. Under the initial agreement, a limited $7 billion of relief on sanctions may be seen over the next six months. With…
While it has been a bumpy week for urea, there is no indication that the market will deviate from the current upward trend. The PWNI saw a modest gain to 161.59 from 160.51. Profercy’s quoted price ranges for urea saw a small depreciation in the Yuzhnyy index value, while the Egyptian and Arab Gulf ranges…
Later today Profercy will publish the latest weekly news and analysis on global fertilizer markets and prices, covering markets worldwide for nitrogen, phosphates, NPKs and potash. While the publications are focused on market developments, some of the latest company news is provided below. Eurochem seeks London flotation within five years London’s Evening Standard is this…
With the urea market still tight in the East, the Profercy World Nitrogen Index has maintained an upward trend. Prices rises for Middle East and Egyptian granular urea and Yuzhnyy prilled urea have been witnessed through recent sales and purchasing tenders. Today’s Egyptian granular urea tender saw prices up $15pt on last week. Going against…