PWNI makes first decline of 2021; urea market activity stalls as participants await outcome of latest Indian purchasing tender

After weeks of consistent increases, the Profercy World Nitrogen Index has dropped 3.06 points to 181.47 this week, the first decline seen this year owing to softening urea values, particularly in the east. Activity in the global urea market has been muted for the most part, with participants awaiting the outcome of India’s urea purchasing…

India re-enters the urea market with latest purchasing inquiry following three month absence

After more than three months since India’s last urea purchasing inquiry, the world’s largest urea importer announced a fresh tender late last week. The country’s state purchasing agency RCF is set to close the tender on 22 March for shipments to 28 April. For the most part, activity in the urea market was muted this…

PWNI continues to ascend with US Gulf urea values hitting highs seen nearly 7 years ago

The Profercy World Nitrogen Index has climbed further and continued in the same manner seen since the beginning of 2021, with urea values making gains across several regions this week. The one exception was China, where export values for both prilled and granular urea came under pressure earlier this week. With domestic demand remaining slow…

PWNI hits fresh new highs; US UAN values rise sharply as producers return to market post-cold snap

Values for most products across the nitrogen complex have ramped up further this week resulting in the Profercy World Nitrogen Index hitting highs that were last seen 7 years ago. In the ammonia market, prices continue to race ahead with the latest sale in Yuzhnyy $30-40pt up on last week, while the March Tampa contract…

Firming nitrogen markets continues to push Profercy World Nitrogen Index to new highs

With prices for most nitrogen-based products remaining firm this week, the upwards momentum continues to be seen on the Profercy World Nitrogen Index with values reaching close to 175 points, levels last seen over six years ago. In the urea market, following two weeks of illiquidity in Egypt, sales took place at higher levels by…

US Gulf urea values recover as gas diversions and production cutbacks bring producers to the market; activity elsewhere limited

While activity across the global urea market was muted for the most part this week, the US has been the exception. With freezing temperatures currently being experienced in the country’s Midwest and gas prices sky-rocketing, nitrogen producers have scaled back production. Producers have been able to sell gas back into the market at a notable…

Profercy World Nitrogen Index continues to reach new highs in spite of the slowdown in the global urea market

After a rampant start to the year, activity in the global urea market has been significantly slower this week. In the West, values in the US Gulf barge market fell further with a handful of sellers entering the market again and lowering offers to place February and March barges. This resulted in values declining by…