The 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…
DetailsIn a busy week in which news of the sale of 100,000t of spot material emerged and supply constraints finally started to ease in Trinidad but persisted in North Africa, the settlement of the Tampa contract for August at a $60pt premium to July was the main talking point. The significant hike in the US…
DetailsYara has signed a Heads of Terms for offtake from Atome’s proposed 264,000t per year renewable calcium ammonium nitrate (CAN) project in Villeta. Yara would market and sell the green CAN as part of the YaraBela product line, with the 145MW project scheduled to produce and export fertilizers derived from baseload renewable power from 2027.…
DetailsAfter successive rounds of counters and the eventual move to pursue east coast tonnes, India managed to secure 433,500t of urea via the 8 July tender. Just 80,000t were booked for the west coast with the balance going east at higher netbacks. The higher east coast counter drew healthy additional volumes from the Middle East…
DetailsYara swung to a net income of $3 million in the second quarter of this year from a net loss of $298 million in April-June 2023, with the Scandinavian group unveiling plans for a cost and capex reduction program worth $300 million to strengthen financial performance. Over the next 18 months, Yara will aim to…
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