India has this week announced two new purchasing inquiries, within days of the conclusion of the latest producer-only tender that resulted in only 465,000t of urea being secured by the country. With the world’s largest urea importer desperately behind on purchases for this season, it has had no choice but to pay high prices for…
With global urea values continuing to race ahead and showing no signs of letting up, the Profercy World Nitrogen Index has this week climbed by over 10 points to hit a fresh all-time high. India returned to the urea market with a new purchasing inquiry for shipments to 10 December. However, in a move that…
The Profercy World Nitrogen Index continues to reach new highs, this week climbing by 11.50 points to its highest ever level since inception of 379.49. The gains made this week have not been as sharp as those seen in recent weeks. Market activity has slowed down in a number of regions following a month of…
Global urea values have continued to race ahead and are yet to show signs of letting up. As the below table demonstrates, urea have significantly advanced since late August. With fundamentals in the nitrogen markets remaining strong, it appears there is no end to the increases for now. In the urea market, following its latest…
With values of urea and other nitrogen-based products once again making sharp increases, the Profercy World Nitrogen Index has made its largest ever weekly increase and hit an all-time high this week of 287.54, up 34.50 from last week. In the urea market, the price rally that begun in the west in early September has…
With the surge in global urea values showing no sign of letting up, the Profercy World Nitrogen Index has made its biggest weekly increase on record, climbing by 23.39 points and hitting a new high of 253.04, levels that were last seen in May 2012. After remaining relatively stable during the past couple of weeks,…
With urea values already firm in the west, the situation has escalated further this week owing to the rapid ascent in spot gas prices in Europe. Ukrainian producers are now being forced to consider cutting back, or shut down operations altogether. Nitrogen production in other European locations is also considered under threat. CF Industries in…
The Profercy World Nitrogen Index (PWNI) gained 7.90 points this week to 221.88 as urea values surged in the US Gulf following the September supply crunch. The PWNI is now at the highest point seen so far this year and at levels last reached in January 2013. In the US Gulf, with production outages and…
The widespread anticipation of an Indian urea purchasing tender announcement and a series of related and unrelated events has led to a sharp about turn in urea values. This week, the Profercy World Nitrogen Index reversed around half of the decline of the previous six weeks. The first sign of bullishness came in the paper…
The derivatives market based on the Profercy/ICIS fertilizer index is now at a notable premium to the physical with Arab Gulf, Nola and Egypt contract values rallying late yesterday. The past 1-2 days of trading of fertilizer futures through the CME Group futures exchange has seen optimism return to the urea market. September Arab Gulf…