Indonesian prices shoot up while the urea market weighs up prospect of Chinese export tax

After a sustained bull-run, the urea market cooled this week with softer international and Chinese derivatives values, alongside a drop in grain prices, leading to some unease. However, with urea producers worldwide sold well into July, India returning to the market and rumours circulating regarding an export tax being introduced in China, there were no…

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Urea producers extend order books into August with values ramping up further, PWNI hits new high

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…

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Urea prices rally: PWNI continues to make strong gains, closing in on highs reached in March

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…

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Sharp gains in Egypt and AG drive PWNI up by over six points

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…

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PWNI climbs on bullish factors despite small Indian purchase

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‚Äôs MMTC resulted in just 550,000t booked. This would have ordinarily been considered a very bearish outcome. Indeed, the last…

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