PWNI continues to advance as nitrogen values firm on escalating supply concerns in Europe

The Profercy World Nitrogen Index (PWNI) has rapidly ascended this week, climbing to over 300 points, as nitrogen values continue to firm amid increasing concerns over future fertilizer production in Europe. With Dutch TTF gas prices trading around €200/MWh over the past week, European fertilizer producers continue to weigh up the profitability of running operations.…

Details

USA: UAN imports from Russia and Trinidad given green light – ITC concludes shipments do not injure US industry

The US International Trade Commission (ITC) has today made a final negative determination in its investigation concerning UAN solutions from Russia and Trinidad and Tobago.  Ultimately, the decision confirms that product from both major offshore suppliers will not be subject to anti-dumping or countervailing duties. The ITC and Department of Commerce (DOC) have been running…

Details

European nitrate producers scramble to figure out new offer levels as gas prices surge

The European gas situation has led to a flurry of pricing activity in the nitrates market, albeit against little concluded business. With nitrates the primary premium nitrogen product in Europe, producers are expected to do their utmost to keep production running at capacity even if output levels for other products including urea, UAN and ammonia…

Details

Ammonia: Soaring natgas prices trigger capacity curtailments and burst of spot sales into Europe

Spot activity is increasingly concentrated on European countries as runaway natgas costs across the continent force manufacturers to curtail capacity and source from other continents. The higher demand has seen deals struck at higher prices than previous weeks, but outside of Europe the market is relatively bearish due to weak demand from major chemicals producers…

Details

Urea markets rebound, driven by short covering and gas concerns in the west

North African granular fob values make triple-digit gains Firm gas prices a concern for European producers and importers Nigerian and US material booked for shipment to eastern Europe Urea values recovered in spectacular fashion this week with Egyptian fob values rallying more than $100pt in a matter of days. As demonstrated below, the move has…

Details

Activity returns to north African markets as Egyptians embark on selling spree

After weeks of inactivity caused by lackluster demand and producers maintaining official offer levels close to $700pt fob, renewed interest has returned to the market with substantial volumes of granular and prilled urea trading over the last few days. Late last week, reports began to emerge that Egyptian producers had revised price ideas down to…

Details

PWNI continues to slide as nitrogen markets enter turbulent waters

The Profercy World Nitrogen Index has descended again this week. With demand for all nitrogen products remaining lacklustre, values across the nitrogen-based complex have eroded further. In the urea market, buyers in almost all major buying regions remained absent from the market. With demand lacking for a number of weeks, producers have been left with…

Details

Mexican government officially confirms temporary removal of amsul import tariffs

The Mexican Secretariat of Economy formally announced this week that import tariffs on ammonium sulphate, regardless of origin, will be completely suspended for six months. This includes on amsul imports from China and the USA. Amsul from both major producers has effectively been blocked since 2015. The tariffs being suspended are $0.0759 per kg for…

Details