With 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…
CF 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…
The 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,…
After 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…
Despite 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…
The 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…
The 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…
Major 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…
Last week the Iranian President Hassan Rouhani stated that a broad outline to end oil, petrochemical and banking restrictions had been agreed with the USA and other nations. While the extent of progress in the negotiations is not completely clear, oil markets are already pricing in the prospect of sanctions against Iran easing. Sanctions on…
Global urea markets remain on a strong footing with both traders and distributors accepting higher fob and cfr offer levels. Prices in key regions spiked this week, mainly driven by end user demand and also following the announcement of a fresh Indian tender. Meanwhile, Chinese suppliers have maintained a firm price stance ahead of next…