PWNI continues to advance as nitrogen values firm on escalating supply concerns in Europe

The Profercy World Nitrogen Index (PWNI) has rapidly ascended this week, climbing to over 300 points, as nitrogen values continue to firm amid increasing concerns over future fertilizer production in Europe. With Dutch TTF gas prices trading around €200/MWh over the past week, European fertilizer producers continue to weigh up the profitability of running operations.…

PWNI continues to slide as nitrogen markets enter turbulent waters

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…

PWNI hits lowest point of the year to date as nitrogen values continue to erode

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…

Urea: RCF purchasing inquiry concludes, ME and N. African fob values stable

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…

Profercy World Nitrogen Index slides as urea values continue to erode

With India delaying its major purchasing inquiry this week, global urea values have once again eroded as buyers continue to show reluctance in committing to purchases ahead of the Indian tender. The Profercy World Nitrogen Index has made further significant declines this week as a result, falling by around 30 points. While the largest urea…

Profercy World Nitrogen Index falls further as US urea values tumble

The Profercy World Nitrogen Index (PWNI) has made its first significant decline in nearly two months, dropping by over 20 points this week, with the illiquidity currently seen in the urea market bringing with it lower cfr values. Market participants continue to wait for India’s IPL to announce a fresh purchasing inquiry for shipments into…