Amsul prices have been gaining for several months in China, primarily for standard caprolactam grade amsul. More recently, sharp increases were noted in other regions. Though the general strength of the nitrogen complex has been a significant factor, it has not been the primary driver in the amsul market. Over the last 2-3 weeks, Brazilian…
DetailsJanuary 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.…
DetailsThe 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…
DetailsTrading 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…
DetailsFollowing four weeks of advances where the Profercy World Nitrogen Index increased by nearly 10 points, the index has this week fallen by 2.42 points to 119.98, with urea values declining in the west and Middle East. With India’s state purchasing agency MMTC issuing LOIs for close to 1.3m. tonnes of urea late last week,…
DetailsBrazil’s urea imports during the year-to-November have hit an all-time record of 6.36m. tonnes owing to good ag economics, as well as a complete loss of domestic production. According to the latest customs statistics, Brazil’s year-to-date imports are 30% higher than the 4.88m. tonnes imported during the same period of 2019. The year-to-date total is…
DetailsThe lowest offers received in today’s urea purchasing inquiry by MMTC are some $5-7pt higher than lowest offers in the first half October RCF tender. Through the latest tender, MMTC intends to book cargoes for shipment through to 6 January 2021. 13 participants submitted offers totalling 2.434m. tonnes in the inquiry, well below the volume…
DetailsIndia’s state purchasing agency MMTC has today announced the widely anticipated urea tender for shipment by 6 January 2021. The tender closes on 1 December. Demand for urea has been especially high this year in India, with a reverse migration of labour owing to the Covid-19 pandemic, together with a good monsoon, resulting in a…
DetailsThe urea market was active again this week, with granular and prilled values making strong gains in the east and west as participants await a new tender announcement from India. While it remains unclear when the announcement from state purchasing agency MMTC will be made, traders continued to take positions in advance of this. Notably,…
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