Profercy World Nitrogen Index
Profercy’s Nitrogen Index utilizes key global nitrogen fertilizer prices to derive a value for nitrogen as a crop nutrient. The Index provides a useful and straightforward tool to gauge the overall health of the World market for nitrogen fertilizers.
For the latest detailed market analysis on global urea, ammonia, nitrates and ammonium sulphate, you can sign up for a no-obligation trial of the Profercy Nitrogen Service. To do so, please click here.
|Market Status: STABLE-TO-SOFT||Week 16 – 12-19 April 2018 – Index continues decline amid weaker AN and UAN prices even as urea stabilises
The urea market proved largely stable this week with prices in some regions registering modest upticks while others remained unchanged or slightly down as traders and producers planned out product shipments to India. The larger than anticipated India IPL tender of last week, at over 1m. tonnes, has left producers re-evaluating inventories for the coming weeks and months.
Nonetheless, the Profercy World Nitrogen Index declined for the sixth consecutive week in a row, down 0.72 on the week to 114.98. This week’s drop largely came as a result of price declines in AN, UAN and ammonia.
Black Sea UAN prices came under pressure while AN prices fell by $8pt to below $165pt fob Black Sea. In the ammonia markets, prices declined in Yuzhnyy, Trinidad and North Africa by around $3-5pt.
Elsewhere, the average US Nola urea value remained near unchanged at around $220ps ton, however, the high/low range narrowed by $6ps ton with both the high and low converging by the same amount. Weather in the US continues to be reported as poor with snowfall delaying end-user application. Recent reports have put the amount of corn already planted at just 3%.
For a detailed overview of the latest developments in global nitrogen markets, as well as the latest regional market analysis and price assessments, you can receive a free trial of the Profercy Nitrogen Service by clicking here.