CF Industries reports third quarter loss; Port Neal start-up expected soon
CF Industries reported a third quarter loss for the first time since 2010 this week. The company noted that selling prices have been low due to global oversupply of nitrogen fertilizer and lower industrial demand. Prices in the US fell for much of Q3 and often traded below the international market. Indeed, in July this…
DetailsYara publishes Q3 results: Deliveries up, margins lower
Yara International ASA announced today weaker third-quarter results compared with a year earlier. Third-quarter EBITDA excluding special items was down 35% at NOK 2,968 million compared with NOK 4,614 million a year earlier. The company noted that weaker fertilizer prices were only partly offset by higher deliveries of Yara-produced products, lower energy costs and currency translation…
DetailsUrea: A brief price history
Profercy’s latest long term price forecast, The Urea Outlook to 2030, was published in October 2016. While the latest report looks to the future, this blog provides an overview of price developments since 1970, as well as the factors that have contributed to five year price decline across global nitrogen markets. Urea accounts for over…
DetailsUrea markets benefit from Indian demand; ammonia prices remain low
Profercy’s World Nitrogen Index currently stands at 94.90pts and has tracked sideways through September. However, with modest gains for urea and ammonium nitrate prices evident in the past two weeks, the Index could soon move over the 95 point mark for the first time since June. Urea: Indian demand supports producers in the East Global…
DetailsAgrium and PotashCorp to combine to create largest crop nutrient company in the world
Earlier this week PotashCorp and Agrium announced that they have agreed stock-only merger terms that will create the largest crop nutrient company in the world. As yet unnamed, the new company will have a potash capacity of 20m tonnes per year (all figures nameplate basis) by the time it starts combined operations in mid-2017. This…
DetailsUrea: August defined by price stability and supply outages
Mid-July saw Profercy’s Nitrogen Index at its lowest level since the 2009 start date. However, international urea prices gained towards the end of the month and the market was stable to firm throughout August. Black Sea prilled urea prices are currently $15-20pt above the low levels seen in July, while Egyptian granular urea has gained…
DetailsUrea: July challenges producers; Indian cfr levels down $35pt since mid-May
Profercy Nitrogen Forecast 25 May 2016: “The June-Q3 trade balance is in surplus by 18%. While the more balanced situation for June should lead to some stability in the next few weeks, July appears heavily in surplus. Supply cutbacks and lower prices are needed to balance the market in Q3.” July has been a difficult…
DetailsThe impact of Brexit on phosphates and NPKs
First published 08.01 GMT, 24 June 2016, by Tom Jago. Today’s Brexit referendum victory has had big knock-on forex impacts overnight for key players in the global phosphates market. It should also free the UK of the EU’s selective import duty structure on imports according to origin (more below). – India: Brexit has hit Indian…
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