Middle East leads urea price fall – Nitrogen Index down 6 points

Profercy’s Nitrogen Index fell over 6 points this week – the greatest fall since August last year. The temporary stability in urea markets seen in April is now a distant memory. Indeed, Middle East granular urea prices fell by a range average of  $25pt this week. Egyptian prices have come under similar pressure with European…

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Ukraine shutdowns support prilled urea in the West; granular urea trends down worldwide

Lower urea prices have been evident over the last week, forcing Profercy’s Nitrogen Index down 5 points – the largest single drop this year. The fall has been driven by easing urea prices in the Middle East, where netbacks for US cargoes have fallen further, and by the notable drop in Egyptian prices. Indeed, our…

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Weak granular prices see Nitrogen Index fall two points

In line with expectations, Profercy’s Nitrogen Index fell back over two points to 168 this week. The decrease was primarily a consequence of our quoted price range for Egyptian granular urea falling by $15pt fob. In addition, the low end of Profercy’s price quote for Middle East granular urea fell by the same amount.  Despite prices…

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Nitrogen Index holds – Urea market set for a new round of price discovery

[tabs][tab title=”Profercy Nitrogen Index – 2012 Onwards”]  [/tab][tab title=”Profercy Nitrogen Index – 2009 Onwards”]  [/tab][/tabs] Profercy’s Nitrogen Index held at 170.76 this week (up 0.16 on last week). The urea market in the West has seen traders covering in and some spot demand evident, supporting prices for prilled and granular urea. Egyptian prices have held…

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Nitrogen Index up 2 points with improved urea prices in the West

[blockquote author=”Profercy Nitrogen Report 17 April 2014″ link=”” link_title=””] “…there has been some comfort for producers in the West this week with modest price rebounds witnessed. Last minute purchasing by end users coincided with traders looking to cover in short sales” [/blockquote] Profercy’s Nitrogen Index gained 2 points last week – the first increase since…

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Urea prices soften, ammonia remains firm – Nitrogen Index down 3 points

[blockquote author=”Profercy Nitrogen Report, 3rd April 2014“] The downward price trend continues…..while the level of inquiry has built slightly, it is insufficient to turn the price tide for suppliers. [/blockquote] The low end of Profercy’s price ranges fell by $5-9pt for all major urea export origins used in Profercy’s World Nitrogen Index. This includes Yuzhnyy prills,…

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CHS puts North Dakota urea project on hold. Looking at the decision in the context of global supply growth

News emerged this week that CHS, a major US co-operative, was delaying a decision on its proposed urea project in Spiritwood, North Dakota. Commenting in the local Jamestown Sun newspaper, a company spokesperson noted that: “At the current cost estimate, the project would not generate the targeted returns on capital and would not be viable”.…

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Another bearish week for urea; Profercy’s Nitrogen Index falls a further 3.8 points

Prilled urea prices fall further in China US prices hold while all other markets for both granular and prilled urea drop back Gulf between Yuzhnyy ammonia and Yuzhnyy prills widens. The final week of Q1 maintained the bearish mood of previous weeks, with prices falling for both prilled and granular urea in all markets except…

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