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 Firm | 6 November – Europe goes alone, lifting N African urea values, while global market weighs up fresh export interest from China
The Nitrogen Index has advanced a further five points, buoyed by rapid price advances in North Africa and Europe for urea, nitrates and UAN. Egyptian granular urea values were up $42pt with just 26,000t changing hands, while traders made light work of placing positions booked earlier into Europe. Highest value trades this week took place at $500-507pt fob North Africa for shipment into early-December. As has been the case for several weeks, demand been driven by pre-CBAM requirements from European importers, while a number had secured limited volumes mid-year due to high international values. Elsewhere, the urea market is increasingly fragmented. Indian demand has surfaced for shipments to 15 January, with a new tender closing 20 November. Yet, news of additional export quotas from China will increase competition, even if there is some debate as to the precise volumes that can be made available. The Nitrogen Index stands at 198.16. It has gained over 10 points in just two weeks. |
The Index is updated each week. An overview of the methodology can be found here.