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”.…
DetailsThe gulf between Yuzhnyy ammonia and prilled urea is now $200pt. Buoyant demand in the US and supply cutbacks and uncertainty have supported the increase in prices. While ammonia prices can be volatile in the short term, in the long run prices tend to follow urea and other nitrogen products. Supply-side factors, particularly production in the…
DetailsPrilled 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…
DetailsProfercy’s World Nitrogen Index fell for the sixth week in a row with the market for both granular and prilled urea remaining weak. Cfr prices have fallen in a number of markets, with only US Gulf prices remaining healthy. North African prices for granular urea have resisted major price falls with demand in Europe relieving…
DetailsWith the exception of ammonia, all nitrogen markets remain weak. Global urea prices have continued their downward trend, with granular urea prices falling by greater levels than prills over the last week. Demonstrating this point, while Profercy’s price range for Yuzhny prilled urea fell by an average of $5pt, the low end of Profercy’s range…
DetailsOur latest analysis points to volatile price action from now to Q4 2014 in global phosphate fertilizer markets. While a strong uptrend was witnessed in the northern hemisphere in Q1, a fall in demand and greater output in Q2 is expected to see a change in global market fortunes. However, the trade balance for Q3 paints…
DetailsProfercy’s Nitrogen Index dropped for the fourth consecutive week on the back of price falls for both grades of urea. Of particular note, the low end of Profercy’s price range for US Gulf fob prices fell by $35ps ton this week. The changing fortunes for Gulf barge prices mean that Middle East producers will see…
DetailsGlobal 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…
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