North African granular fob values make triple-digit gains Firm gas prices a concern for European producers and importers Nigerian and US material booked for shipment to eastern Europe Urea values recovered in spectacular fashion this week with Egyptian fob values rallying more than $100pt in a matter of days. As demonstrated below, the move has…
After weeks of inactivity caused by lackluster demand and producers maintaining official offer levels close to $700pt fob, renewed interest has returned to the market with substantial volumes of granular and prilled urea trading over the last few days. Late last week, reports began to emerge that Egyptian producers had revised price ideas down to…
The Profercy World Nitrogen Index has descended again this week. With demand for all nitrogen products remaining lacklustre, values across the nitrogen-based complex have eroded further. In the urea market, buyers in almost all major buying regions remained absent from the market. With demand lacking for a number of weeks, producers have been left with…
The Mexican Secretariat of Economy formally announced this week that import tariffs on ammonium sulphate, regardless of origin, will be completely suspended for six months. This includes on amsul imports from China and the USA. Amsul from both major producers has effectively been blocked since 2015. The tariffs being suspended are $0.0759 per kg for…
The Profercy World Nitrogen Index (PWNI) has hit the lowest point seen so far this year, as values of nitrogen-based products eroded further this week. In the urea market, activity slowed down following the conclusion of India’s latest purchasing inquiry. With producers under no significant pressure to place cargoes, and buyers equally content, there was…
Ambitious plans for a $2 billion blue ammonia facility in Louisiana that will capture at least 90% of CO2 emissions are a key step towards the fertilizer giant’s goal of net-zero, Ashley Harris, Vice President of Environmental Performance and Innovation tells Profercy in an interview. From gleaming offices in the heart of the Canadian Prairies,…
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…