It 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…
Details“The general level of urea prices is increasing and this trend is expected to continue into Q1 2014….demand in the West, North America and Europe, has been deferred with the recent price recovery having caught many markets off guard. Given that the preferred grade for Europe and North America is granular, this product has the…
DetailsDespite ups and downs in the US over the last week, urea markets remain firm. With price increases witnessed in all major export areas and markets, the Nitrogen Index moved up three points. The increase of three points this week is modest compared to those of the last two weeks – over 6 and 10 points…
DetailsLast week saw BP publish the Fourth Edition of the influential Energy Outlook series, setting out the energy giants’ expectations for global energy to 2035. Of particular relevance to long term nitrogen markets and trade, the report offers a useful overview of the world’s gas supply and consumption to 2035. Nitrogen markets are inextricably tied…
DetailsThe last two years have seen numerous nitrogen capacity projects announced, with many of these located in North America. If all projects were built, Profercy estimates that global nitrogen capacity could increase 40% by 2018. However, many projects fail to break ground and production is never realised. Our latest long term forecast for urea, The…
DetailsProfercy’s World Nitrogen Index increased by a massive 10 points this week on the back of strong gains in global urea prices. With both the US and Europe competing for urea, fob prices for Egyptian granular urea surged by $40pt. The latest Indonesian sales tender for granular product saw a price increase of over $60pt…
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