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…
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…
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…
January 2021 has been a record breaking month for urea values. Bolstered by high grain prices, strong demand has been evident in the West, in particular the US, Europe and Turkey. With inventories low and purchasing behind in many markets, producers have been able to take advantage by sustaining consistent price increases with each sale.…
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…
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…
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,…
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,…
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…