Falling ammonia prices bring relief at last to long-suffering buyers both sides of Suez

A large fall in the Tampa contract for May loadings and spot sale into Morocco from the Middle East at a hefty discount to last business underlined the ammonia market’s increasingly bearish tone as prices finally started to correct. Prices have cooled amid softening demand from industrial users in several countries, delayed orders from the…

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Profercy World Nitrogen Index slides as urea values continue to erode

With India delaying its major purchasing inquiry this week, global urea values have once again eroded as buyers continue to show reluctance in committing to purchases ahead of the Indian tender. The Profercy World Nitrogen Index has made further significant declines this week as a result, falling by around 30 points. While the largest urea…

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Profercy World Nitrogen Index falls further as US urea values tumble

The Profercy World Nitrogen Index (PWNI) has made its first significant decline in nearly two months, dropping by over 20 points this week, with the illiquidity currently seen in the urea market bringing with it lower cfr values. Market participants continue to wait for India’s IPL to announce a fresh purchasing inquiry for shipments into…

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Urea markets remain on a firm footing ahead of anticipated India tender

This week has been noticeably more muted in terms of activity in comparison to the previous few weeks. However, market sentiment remains bullish with supply from Russia still disrupted. Indeed, it has been one month since conflict began in Ukraine and global trade flows are still adjusting. There remains major uncertainty over future supply from…

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