Following the conclusion of its latest purchasing inquiry, India’s IPL has this week secured 1.6m. tonnes of urea for shipment by 31 December. By offering substantial premiums to netbacks from other markets, India has managed to attract the bulk of the remaining spot availability there is in the market for December. In the latest tender,…
DetailsBeyond some relatively small scale buying in Brazil and the US Gulf, all eyes (producers, traders and buyers) were on the Indian IPL tender of 11 November. The tender did not underwhelm with the lowest offer for the west coast above $980pt cfr and the east coast just under $1,000pt cfr. China’s absence from the…
DetailsPetronas has become the first producer to commit granular urea at $1,000pt fob. The sale for a 6,000t cargo for second half December loading in Malaysia will be shipped to a nearby market, most likely South Korea. With the supply of urea globally increasingly tight, buyers in need of product are now scrambling for whatever…
DetailsIndia has this week announced two new purchasing inquiries, within days of the conclusion of the latest producer-only tender that resulted in only 465,000t of urea being secured by the country. With the world’s largest urea importer desperately behind on purchases for this season, it has had no choice but to pay high prices for…
DetailsWith great pomp, the Prime Minister of Russia, Mikhail Mishustin, on 3 November announced on state-owned television that temporary export quotas on nitrogen fertilizers will be introduced for a period of six months. The export quota for nitrogen fertilizers was set at 5.9m. tonnes and will come into force from 1 December, meaning November shipments…
DetailsCF Industries reported net earnings of $212 million for the first nine months of the year, EBITDA of $984 million and adjusted EBITDA of $1,485 million late yesterday. It also reported a Q3 net loss of $185 million and an EBITDA loss of $10 million, which include the impact of preliminary pre-tax non-cash impairment charges…
DetailsNutrien’s sales volumes in the first nine months of 2021 decreased compared to the same period in 2020, due to more planned turnaround activity, temporary production outages, and lower inventory volumes at the beginning of 2021 compared to the same period in 2020. Meanwhile, the cost of goods sold per tonne increased during the third…
DetailsWith global urea values continuing to race ahead and showing no signs of letting up, the Profercy World Nitrogen Index has this week climbed by over 10 points to hit a fresh all-time high. India returned to the urea market with a new purchasing inquiry for shipments to 10 December. However, in a move that…
DetailsThe Profercy World Nitrogen Index continues to reach new highs, this week climbing by 11.50 points to its highest ever level since inception of 379.49. The gains made this week have not been as sharp as those seen in recent weeks. Market activity has slowed down in a number of regions following a month of…
DetailsGlobal urea values have continued to race ahead and are yet to show signs of letting up. As the below table demonstrates, urea have significantly advanced since late August. With fundamentals in the nitrogen markets remaining strong, it appears there is no end to the increases for now. In the urea market, following its latest…
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