New CIQ applications for DAP/MAP exports from China were halted from 1 December. Whilst a number of key details are becoming clearer, still multiple grey areas remain on the implementation of the latest controls. The halt in exports comes as domestic DAP/MAP prices surged in China over recent weeks due mainly to jumps in raw…
DetailsBrazil’s P2O5 stocks have increased significantly throughout 2024 after entering the year at 839,442t. This volume was down 8% on 2022 closing stocks of 912,168t. Stocks have increased despite a considerable drop in Brazil’s year-to-date MAP imports. This is because the decline in MAP imports was offset by significant increases in imports of other lower-P205…
DetailsA series of spot deals were concluded in a hectic week for the merchant ammonia market, a positive trend underlining the far healthier global supply situation, despite production headaches in Algeria persisting and feedstock price volatility in Europe triggering some uncertainty. Towards the end of a year scarred by lengthy periods of capacity curtailments in…
DetailsThe urea market lived up to its reputation for turbulence and volatility this week with major price swings evident in North Africa. At the same time, the latest purchasing tender in India reset eastern spot values with Indian Potash Limited (IPL) making light work of securing 1m. tonnes for shipment to end-December. Egyptian granular values…
DetailsThe global urea market is eagerly awaiting the outcome of the latest purchasing tender in India, with this set to define market values and availability well into November. Rashtriya Chemical Fertilizers (RCF) closed a tender yesterday (3 October) for shipments to 20 November. In the 48 hours prior to the tender, escalating tensions in the…
DetailsIndia’s surprise early-return has ended the malaise that had emerged in many areas of the market. News of the tender midweek spurred a round of fob activity in the east and west with Profercy’s Nitrogen Index subsequently advancing a further 2.63 points. The Index stands at 162.11, returning above 160 points for the first time…
DetailsA pair of premium-priced fob spot sales to Trammo by leading producers in North Africa and the Middle East were the main events in an otherwise relatively quiet week for the merchant ammonia industry. Against the backdrop of major capacity curtailments in Saudi Arabia and limited loadings in the US Gulf this month, the trader…
DetailsNational Fertilizers Limited (NFL) quickly secured 1.177m. tonnes of urea following the 29 August inquiry for shipments to end-October. As yet the tender has not yet been finalised, with awards pending. With awards currently widely considered a formality, producers and other suppliers are hopeful the extent of commitments will lend support to the urea…
DetailsLowest offers into the latest National Fertilizers Limited (NFL) tender emerged earlier today with the agency quickly issuing counters to all participants. NFL is targeting urea for shipment by 31 October. The lowest offers represented a sizeable 536,000t with Ameropa lowest on the east coast at $349.88pt cfr (136,000t) and OQ Trading sharpest on the…
DetailsWhile summer holidays kept many ammonia market players away from their desks, prices, sentiment and the global supply/demand balance remain clearly disjointed between East and West as thoughts turn to September shipments. This trend was illustrated by fresh fob spot business for North African material taking place at a premium to cfr deliveries into the…
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