China’s return to the international urea market this week ended the bull run that began end-April. The sale of around 650,000t of urea from China aided India in securing 1.2m. tonnes of product in the latest purchasing tender, the largest single purchase since December 2020. Netbacks in the tender for suppliers were healthy, around $485pt…
DetailsWith economies around the globe starting to stage a recovery and high grain prices seen during the first half of this year, there has been buoyant demand for urea and other products in the nitrogen complex. This has led to a rapid ascent in the Profercy World Nitrogen Index (PWNI), the index which utilises key…
DetailsCF Industries has filed petitions with the US Department of Commerce and the US International Trade Commission (ITC) requesting the initiation of antidumping and countervailing duty investigations on imports of UAN from Russian and Trinidad and Tobago. The ITC has now officially listed an active import injury investigation on its website (Inv. No. 701-TA-668-669 and…
DetailsThe Profercy World Nitrogen Index has increased by 2.81 points this week to 213.46. Gains have not been as steep as in recent weeks, however, with the urea market waiting for the outcome of the latest Indian purchasing inquiry for much of the week. Importers, particularly those in the west, have been on the side-lines,…
DetailsAfter a sustained bull-run, the urea market cooled this week with softer international and Chinese derivatives values, alongside a drop in grain prices, leading to some unease. However, with urea producers worldwide sold well into July, India returning to the market and rumours circulating regarding an export tax being introduced in China, there were no…
DetailsDespite some nervousness in the urea market, the PWNI made more strong gains and increased by nearly 10 points week on week. The increases in urea values were not uniform as in recent weeks. However, regions that had increased at a slower rate to others (e.g. Baltic) saw the sharpest gains this week. Baltic prilled…
DetailsThe Profercy World Nitrogen Index gained by 14.45 points week on week to 201.01 points. This is the single biggest week on week increase since January 2009. The last time the Index was above 200 points was in March 2013. Global nitrogen prices remain firm with urea, amsul and ammonia values climbing this week. Urea:…
DetailsThe Profercy World Nitrogen Index has hit a high last seen in March 2014 as global urea values no signs of slowing their upward trajectory. Urea values continue to rapidly escalate. With traders now willing to book long positions further into July and August, producers in the east and west have managed to achieve higher…
DetailsThe Profercy World Nitrogen Index has continued its rapid ascent, this week climbing by over 8 points, the largest weekly increase seen since early February, and nearing highs last seen in March this year. All products across the nitrogen-complex remain firm. Urea values in particular are racing ahead of other nitrogen products and showing no…
DetailsMajor European producers have begun issuing new season prices for ammonium nitrate and CAN in Europe, with first offers well above those in 2020. Both CF Industries in the UK, and Yara, who supply across western Europe, are price-leaders in their respective markets. Producers are confident given the strength of the global urea market, which…
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