Despite low gas prices in North America, a 40% increase in global urea capacity is unlikely

The last two years have seen numerous nitrogen capacity projects announced, with many of these located in North America. If all projects were built, Profercy estimates that global nitrogen capacity could increase 40% by 2018. However, many projects fail to break ground and production is never realised. Our latest long term forecast for urea, The…

Details

Surge in urea prices supports massive 10-point increase in Nitrogen Index

Profercy’s World Nitrogen Index increased by a massive 10 points this week on the back of strong gains in global urea prices. With both the US and Europe competing for urea, fob prices for Egyptian granular urea surged by $40pt. The latest Indonesian sales tender for granular product saw a price increase of over $60pt…

Details

Nitrogen Index soars 6 points as US drives global urea prices

The Profercy World Nitrogen Index saw the biggest increase in over a year this week. With US demand and escalating barge prices attracting supply from the Middle East, Malaysia and China, global granular urea prices saw a marked increase. The key granular urea elements in the Nitrogen Index, Middle East fob and Egyptian fob prices,…

Details

Profercy World Nitrogen Index – A quiet week, urea markets ease

The last full week of business in 2013 has been relatively quiet. Following the run-up in prices in recent weeks, Yuzhnyy prilled urea prices and Egyptian granular urea prices fell back. Despite an increase in Profercy’s price range for Yuzhnny ammonia, the Profercy World Nitrogen Index fell back to just over 170. A more detailed…

Details

A tough year for nitrogen markets – the Nitrogen Index 2013

As the holiday season approaches, this extended blog entry briefly reviews the fortunes of nitrogen products throughout 2013. Utilising Profercy’s World Nitrogen Index, the review primarily focuses on urea, which makes up the majority of nitrogen used worldwide.  2013 saw nearly 7 months of falling urea prices sandwiched between two bullish phases. For more information on…

Details