Despite some nervousness in the urea market, the PWNI made more strong gains and increased by nearly 10 points week on week. The increases in urea values were not uniform as in recent weeks. However, regions that had increased at a slower rate to others (e.g. Baltic) saw the sharpest gains this week. Baltic prilled…
The Profercy World Nitrogen Index has hit a high last seen in March 2014 as global urea values no signs of slowing their upward trajectory. Urea values continue to rapidly escalate. With traders now willing to book long positions further into July and August, producers in the east and west have managed to achieve higher…
The Profercy World Nitrogen Index has continued its rapid ascent, this week climbing by over 8 points, the largest weekly increase seen since early February, and nearing highs last seen in March this year. All products across the nitrogen-complex remain firm. Urea values in particular are racing ahead of other nitrogen products and showing no…
Global urea markets remain on a strong footing with both traders and distributors accepting higher fob and cfr offer levels. Prices in key regions spiked this week, mainly driven by end user demand and also following the announcement of a fresh Indian tender. Meanwhile, Chinese suppliers have maintained a firm price stance ahead of next…
The Profercy World Nitrogen Index increased this week as the urea market sidestepped the Indian tender results in favour of bullish upstream and downstream factors, as well as logistical considerations. The latest purchasing tender by India’s MMTC resulted in just 550,000t booked. This would have ordinarily been considered a very bearish outcome. Indeed, the last…
Following last week’s gains, the Profercy World Nitrogen Index has declined by over 3 points this week. The international market was understandably focused on the outcome of the latest Indian purchasing tender. India’s state purchasing agency MMTC closed the tender on 4 May for shipment by 21 June. The lowest offers for both the west…
The Profercy World Nitrogen Index has fallen lower this week, although the losses have not been as vast as in recent weeks, with urea values mixed across the different regions. Values in the east have held, while latest North African business saw lower fob prices in the west. Market participants continue to await an announcement…
The Profercy World Nitrogen Index has made the biggest loss of the year this week, tumbling by over 7 points as urea values continue to deteriorate across the global market. With no confirmation regarding when the next Indian tender will take place and for what volume, and with peak seasonal demand from the west over,…
The Profercy World Nitrogen Index has declined for the third week in a row as urea prices continue to soften in most major regions this week. Having made rapid gains since the beginning of the year and in the run up to spring application in western markets, the Index has now fallen by over 10…
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…