PWNI makes largest gain in over three years with urea prices in the US up 25% while Egyptian urea values advance 16%

The surge in values seen in the global urea market has continued into the second week of the new year, with producers firmly in the driving seat and managing to secure higher prices with each concluded sale. Attention was once again focussed on the US Gulf where trading activity ramped up further, bolstered by high…

Profercy World Nitrogen Index makes rapid ascent as US urea prices increase 14% in a week, while values elsewhere make similar gains

Trading activity in the US Nola urea barge market kicked into action during the first week back following the New Year break. The surge in demand has resulted in prompt month January values gaining around 14% since the start of the week. January barges traded between $252-284ps ton fob Nola, while, further out February and…

Profercy World Nitrogen Index makes first decline in a month as urea values ease in slim trade

Following four weeks of advances where the Profercy World Nitrogen Index increased by nearly 10 points, the index has this week fallen by 2.42 points to 119.98, with urea values declining in the west and Middle East. With India’s state purchasing agency MMTC issuing LOIs for close to 1.3m. tonnes of urea late last week,…

Profercy World Nitrogen Index makes strong gains as urea values continue to increase ahead of India’s return

The urea market was active again this week, with granular and prilled values making strong gains in the east and west as participants await a new tender announcement from India. While it remains unclear when the announcement from state purchasing agency MMTC will be made, traders continued to take positions in advance of this. Notably,…

Pivotal week for urea as market prepares for India’s return

Liquidity returned to the global urea market this week with producers in North Africa and SE Asia, and to a lesser extent the Middle East, committing significant volumes. Many producers in Egypt are now heavily committed for December. Demand has been driven by India’s anticipated return to the market. The world’s largest importer of urea…

India offered record 3.6m. tonnes of urea in latest RCF purchasing tender

Over 3.6m. tonnes of urea were offered in India’s latest purchasing tender which closed today, volumes that are understood to have set a new record. Although significant double counting is likely, the volume offered remains considerably higher than what was offered in most recent inquiries. Since April, the average volume offered has been just below…

Profercy World Nitrogen Index tracks sideways as urea standoff continues

The Profercy World Nitrogen Index remains stable this week, edging 0.19 points lower to 117.66. The index continues to find support from stable Black Sea prilled urea prices, owing to earlier sales to India. However, a lack of buying interest has resulted in producers in a number of other regions lowering their offers. In Egypt…

Profercy World Nitrogen Index registers large gains as urea prices continue to ramp up

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…