After more than three months since India’s last urea purchasing inquiry, the world’s largest urea importer announced a fresh tender late last week. The country’s state purchasing agency RCF is set to close the tender on 22 March for shipments to 28 April. For the most part, activity in the urea market was muted this…
The Profercy World Nitrogen Index has climbed further and continued in the same manner seen since the beginning of 2021, with urea values making gains across several regions this week. The one exception was China, where export values for both prilled and granular urea came under pressure earlier this week. With domestic demand remaining slow…
Values for most products across the nitrogen complex have ramped up further this week resulting in the Profercy World Nitrogen Index hitting highs that were last seen 7 years ago. In the ammonia market, prices continue to race ahead with the latest sale in Yuzhnyy $30-40pt up on last week, while the March Tampa contract…
With prices for most nitrogen-based products remaining firm this week, the upwards momentum continues to be seen on the Profercy World Nitrogen Index with values reaching close to 175 points, levels last seen over six years ago. In the urea market, following two weeks of illiquidity in Egypt, sales took place at higher levels by…
While activity across the global urea market was muted for the most part this week, the US has been the exception. With freezing temperatures currently being experienced in the country’s Midwest and gas prices sky-rocketing, nitrogen producers have scaled back production. Producers have been able to sell gas back into the market at a notable…
After a rampant start to the year, activity in the global urea market has been significantly slower this week. In the West, values in the US Gulf barge market fell further with a handful of sellers entering the market again and lowering offers to place February and March barges. This resulted in values declining by…
January 2021 has been a record breaking month for urea values. Bolstered by high grain prices, strong demand has been evident in the West, in particular the US, Europe and Turkey. With inventories low and purchasing behind in many markets, producers have been able to take advantage by sustaining consistent price increases with each sale.…
The surge in values seen in the global urea market has continued into the second week of the new year, with producers firmly in the driving seat and managing to secure higher prices with each concluded sale. Attention was once again focussed on the US Gulf where trading activity ramped up further, bolstered by high…
Trading activity in the US Nola urea barge market kicked into action during the first week back following the New Year break. The surge in demand has resulted in prompt month January values gaining around 14% since the start of the week. January barges traded between $252-284ps ton fob Nola, while, further out February and…