Urea: Will the latest Indian inquiry break from routine?
For the fourth time in the second half of 2019, India will hold a urea purchasing tender. The tender closes 14 November and requires shipments to 19 December. Over the last few tenders, a well-rehearsed script has emerged with China an active seller, taking a significant portion of the awards. Arab Gulf producers have accepted…
As Iranian urea extends its reach, other suppliers see returns reduced
One year on from new US sanctions on Iran, the impact on prices is much reduced with Western markets open to increasing volumes. For example, the latest import data from Turkey has again highlighted the increased presence of Iranian granular urea in the Turkish market at the expense of Egyptian and Russian suppliers. Turkish imports…
Nola urea values fall to 18-month lows with international market sentiment negative
The US Gulf price slide continued this week with November granular urea barges trading down to $215ps ton fob Nola early in the week. Nola values have fallen more than $35ps ton since the end of September with business concluded at 18-month lows this week before a modest rebound to $220ps ton fob Nola took…
SBU Azot highest bidder for Tatarstan nitrogen assets
Several informed sources in the market report that SBU Azot is in the advanced stages of negotiations with JSC Ammoniy and Mendeleevsk Azot over the purchase of the Mendeleevsk nitrogen production assets in Tatarstan. The reports suggest that the marketing of the Mendeleevsk granular urea will be handled by SBU following the completion of the deal. This would allow SBU flexibility…