The Profercy World Nitrogen Index (PWNI) has rapidly ascended this week, climbing to over 300 points, as nitrogen values continue to firm amid increasing concerns over future fertilizer production in Europe. With Dutch TTF gas prices trading around €200/MWh over the past week, European fertilizer producers continue to weigh up the profitability of running operations.…
The Profercy World Nitrogen Index has descended again this week. With demand for all nitrogen products remaining lacklustre, values across the nitrogen-based complex have eroded further. In the urea market, buyers in almost all major buying regions remained absent from the market. With demand lacking for a number of weeks, producers have been left with…
The Profercy World Nitrogen Index (PWNI) has hit the lowest point seen so far this year, as values of nitrogen-based products eroded further this week. In the urea market, activity slowed down following the conclusion of India’s latest purchasing inquiry. With producers under no significant pressure to place cargoes, and buyers equally content, there was…
The latest purchasing inquiry by India’s RCF reached a conclusion this week, with the state agency issuing LOIs for close to 1.65m. tonnes of urea for shipment by 5 July. Confirmations were submitted by participants in the tender on Monday, following counter offers being issued late last week at $716.50pt cfr west coast, and $721.30pt…
The long awaited Indian purchasing tender is finally nearing a conclusion. This week price details were announced with the lowest offers above $715pt cfr for the west coast and above $720pt cfr for the east coast. This has resulted in further declines in global fob values, but these have not been as sharp as some…
April has been a challenging month for those holding urea. After a tumultuous March in which the market was reacting to the impact of war in Ukraine and subsequent sanctions on Russia, liquidity has since been light in the east and west. The slowdown in European and US import demand, as well as the absence…
With India delaying its major purchasing inquiry this week, global urea values have once again eroded as buyers continue to show reluctance in committing to purchases ahead of the Indian tender. The Profercy World Nitrogen Index has made further significant declines this week as a result, falling by around 30 points. While the largest urea…
The Profercy World Nitrogen Index (PWNI) has made its first significant decline in nearly two months, dropping by over 20 points this week, with the illiquidity currently seen in the urea market bringing with it lower cfr values. Market participants continue to wait for India’s IPL to announce a fresh purchasing inquiry for shipments into…
The Profercy World Nitrogen Index has made its first decline in six weeks, edging down by around four points as nitrates values underwent a correction this week, while urea values remained stable. A number of major European producers cut nitrates prices, or indicated to buyers a willingness to discuss sales well below earlier official list…
This week has been noticeably more muted in terms of activity in comparison to the previous few weeks. However, market sentiment remains bullish with supply from Russia still disrupted. Indeed, it has been one month since conflict began in Ukraine and global trade flows are still adjusting. There remains major uncertainty over future supply from…