Nitrogen Index declines: Eastern urea producers look to India to place September shipments, demand emerges in Brazil

The Profercy World Nitrogen Index has declined again this week with urea buyers in most regions remaining absent from the market. However, granular urea prices in the US and Brazil did improve with demand emerging early in the week. Fob values in the FSU and North Africa continue to be pressured with western markets slow.…

Details

Sensing further weakness ahead, urea buyers step back from the market or lower bids

The Profercy World Nitrogen Index has declined for the third consecutive week. Buyers have noticeably taken a step back from the market and reduced bids speculatively, particularly in Brazil. In fob regions that rely on western business, traders have been unwilling to accept producer offer levels or take on positions. In some regions such as…

Details

China’s return to the international urea market ends bull run

China’s return to the international urea market this week ended the bull run that began end-April. The sale of around 650,000t of urea from China aided India in securing 1.2m. tonnes of product in the latest purchasing tender, the largest single purchase since December 2020. Netbacks in the tender for suppliers were healthy, around $485pt…

Details

CF Industries files petitions to launch antidumping and countervailing duty investigations into UAN imports from Russia and Trinidad

CF Industries has filed petitions with the US Department of Commerce and the US International Trade Commission (ITC) requesting the initiation of antidumping and countervailing duty investigations on imports of UAN from Russian and Trinidad and Tobago. The ITC has now officially listed an active import injury investigation on its website (Inv. No. 701-TA-668-669 and…

Details

PWNI makes small gains, but is set to move higher with India facing offers over $500pt cfr in latest urea tender

The Profercy World Nitrogen Index has increased by 2.81 points this week to 213.46. Gains have not been as steep as in recent weeks, however, with the urea market waiting for the outcome of the latest Indian purchasing inquiry for much of the week. Importers, particularly those in the west, have been on the side-lines,…

Details

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…

Details