Statements today from US President Barack Obama and Iranian President Hassan Rouhani confirm that a deal has been reached between Iran and the P5 + 1 nations that paves the way for the removal of major trade sanctions restricting Iranian exports. With regard to nitrogen fertilizers, Iranian ammonia and urea exports have been increasingly restricted in…
From the 9th July 2015 Profercy Nitrogen Weekly Report: “As expected, there have been no real positives for urea suppliers over the past week. Prices continue to chart a downward path in the absence of major buying interest from any of the key markets worldwide.” It has been a tough few weeks for global urea…
It has been an important week for global urea markets. Last Friday’s STC tender for urea for shipment to India led to 850,000t being booked at $315-319pt cfr. As noted in this week’s Profercy Nitrogen Report, published 25 June, “the absence of a Chinese supply glut afforded real benefits for other suppliers in the latest…
The market rebound continues with higher prices witnessed this week at all major export points and in all major markets worldwide. Profercy Nitrogen Report, 14 May 2015 Global urea prices have rebounded in recent weeks with demand buoyant and supply tight. Producers in the East and West have not been under inventory pressure while a…
Granular urea prices move up in the Arab Gulf and the Americas – firm Chinese price stance supports gains. Supply squeeze in the US Gulf leads leads to price rally for prompt and May barges. Deferred months also firm up. Nitrogen Index holds steady after 13 weeks of decline. Global urea markets have been in…
“The urea market mood is bearish and so is the reality. Prices for prompt tonnage have fallen again this week while traders have continued to move to the short side with forward sales for April shipment made at low levels.” Profercy Nitrogen Report, 12 March 2015 With FSU prilled urea values falling sharply this week…
Granular and prilled urea prices under pressure; limited end-user movement in Western markets, granular forced into other markets Chinese New Year limits price discovery over recent weeks – price changes likely in coming weeks Profercy’s World Nitrogen Index dropped a further 3.6 points this week and is now 3 points away from the 2014 year…
US barge values stable at TFI Annual Conference following $30ps ton drop since early January US still offers best returns for product arriving from the Arab Gulf Lower returns for granular urea in the West have seen Profercy’s Nitrogen Index drop 9 points since beginning of January US Gulf urea barge values have fallen by…
Reflecting the rangebound nature of global urea prices, Profercy’s World Nitrogen Index saw little change this week and moved down 0.60 points to 169.60. There have been no major price changes in the key granular urea import markets – the US and Europe. For the former, barge prices have stabilised in a narrow range having…
“The price slippage in the USA illustrates the extent to which this market supports both urea prices and supplier optimism in Q1. In the expectation that US demand for new cargoes will ease as February/March progresses, the paper market is already discounting Middle East granular prices for March.” Profercy Nitrogen Report, 15 January 2015 Profercy’s World Nitrogen Index fell…