Lowest offers into the latest National Fertilizers Limited (NFL) tender emerged earlier today with the agency quickly issuing counters to all participants. NFL is targeting urea for shipment by 31 October. The lowest offers represented a sizeable 536,000t with Ameropa lowest on the east coast at $349.88pt cfr (136,000t) and OQ Trading sharpest on the…
DetailsWhile summer holidays kept many ammonia market players away from their desks, prices, sentiment and the global supply/demand balance remain clearly disjointed between East and West as thoughts turn to September shipments. This trend was illustrated by fresh fob spot business for North African material taking place at a premium to cfr deliveries into the…
DetailsIn a busy week in which news of the sale of 100,000t of spot material emerged and supply constraints finally started to ease in Trinidad but persisted in North Africa, the settlement of the Tampa contract for August at a $60pt premium to July was the main talking point. The significant hike in the US…
DetailsYara has signed a Heads of Terms for offtake from Atome’s proposed 264,000t per year renewable calcium ammonium nitrate (CAN) project in Villeta. Yara would market and sell the green CAN as part of the YaraBela product line, with the 145MW project scheduled to produce and export fertilizers derived from baseload renewable power from 2027.…
DetailsAfter successive rounds of counters and the eventual move to pursue east coast tonnes, India managed to secure 433,500t of urea via the 8 July tender. Just 80,000t were booked for the west coast with the balance going east at higher netbacks. The higher east coast counter drew healthy additional volumes from the Middle East…
DetailsYara swung to a net income of $3 million in the second quarter of this year from a net loss of $298 million in April-June 2023, with the Scandinavian group unveiling plans for a cost and capex reduction program worth $300 million to strengthen financial performance. Over the next 18 months, Yara will aim to…
DetailsSupply uncertainty remains front of mind in the urea market with production once again constrained in Egypt by feedstock issues while China has shown little interest in engaging with the international market. Yet, with values having already advanced considerably since mid-May, business has been slow in the past week. Importantly though, most producers are now…
DetailsOver the last week, amsul prices have increased by as much as $15-20pt in some regions. While such increases have on occasion taken place in recent years, they are nonetheless quite rare with amsul tending to move no more than $2-5pt at a time on average. The increases bring values to levels not seen since…
DetailsThe international ammonia market remains bearish in the West and relatively bullish in the East in a week in which the headline news was the slide in the Tampa contract to $400pt cfr for June loadings. The $50pt drop in the settlement took some players by surprise as the imminent natgas cuts and subsequent plant…
DetailsDutch fertilizer major OCI Global has confirmed the first low-carbon material from its showcase Texas Blue Clean Ammonia project will emerge in early 2025 and that the facility it well-positioned for the arrival of Europe’s Carbon Border Adjustment Mechanism (CBAM). Due onstream in the first six months of next year, the Beaumont-based facility is at…
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