Global urea markets have cooled in recent weeks, with the US proving to be the only bullish market. As anticipated in our last Forecast, published at the end of January, import purchases in most major markets proved to be limited through February. Buyers have been keen to avoid being left with surplus product in advance…
DetailsAs the urea market heads towards Q2, the week saw little major buying activity. Prilled urea continues to bear the brunt of buyer nervousness. Since 23 January, the high end of Profercy’s price quote for Yuzhnyy prilled urea (fob basis) has fallen by $45pt. In the East, those holding Chinese prilled product are hoping for…
DetailsIt has been a challenging week for many urea markets despite the continuation of healthy granular prices in the USA. The bottom end of Profercy Nitrogen’s price quote for Yuzhnyy prilled urea fell by a further $10pt, with the low end of the quoted range for Egyptian granular falling by a greater amount. However, other…
DetailsMorocco: During an industry conference this week in Morocco, OCP has showcased its progress towards adding four new 1 million tpa DAP, MAP, NP/NPK units – and the common infrastructure to support them – at Jorf Lasfar. The photo below shows construction progress to early 2014 on Unit 1, which is due for commissioning in…
DetailsThe latest figures from the UK confirm that 2013 was a record year for UK urea imports. The figure for the year was 8.9% up on 2012 and stood at just less than 770,000t. The previous record of just over 750,000t was achieved in 2009. Indeed, lower average global urea prices will have encouraged the…
DetailsIt has been a mixed week for global urea markets with the gulf between FSU prills and North African granular urea reaching $100pt. For the sake of comparison, the price difference between the average of Profercy’s Baltic prilled range and Egyptian granular range in the first week of this year was a much lower $55pt. This…
DetailsAfter one of the longest Q1 phosacid negotiations in recent memory, current quarter pricing between Morocco’s OCP and its Indian import partners has been agreed with the latest figure up 12% on the Q4 level. While negotiations were underway, global DAP prices rose by 20%. The latest deal indicates that India has thin confidence in…
DetailsNitrogen markets remain stable to firm with Profercy’s Nitrogen Price Index recovering the modest drop last week. As anticipated, the fall last week was widely viewed as a market correction. While the high end of Profercy’s price ranges for both prilled and granular urea have fallen back, the low ends for Yuzhnyy prills, as well…
DetailsAs we noted earlier in the week, urea markets have been firm since December, with prices in the US Gulf having jumped nearly 21% since the beginning of the year. This week saw the market cool. While demand is evident, buyers paused and were not prepared to meet earlier price increases. The slight change in…
DetailsIran is set to benefit from a relaxation in sanctions that have restricted oil and urea exports. The temporary removal of certain sanctions was first announced by the P5+1 countries at the end of November, with the intention restated ahead of the World Economic Forum meeting in Davos last week. The latest interim accord will…
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