Profercy’s Tom McIvor dives into the shifting supply dynamics of the global phosphate market in 2023. Entering September, it’s now possible to make a stronger assessment of expected DAP/MAP demand/supply for the full year 2023 based on reported sales, latest trade data and likely activity in Q4. Here I focus on how market share amongst…
DetailsIPL made light work of securing a multi-year record volume through the latest import tender, almost exclusively owing to China’s return to the international stage. As much as 1.1m. tonnes of urea has been committed to India from China for shipment by 26 September, signaling the most significant export business since September 2021, when over…
DetailsUrea values stepped up another level in trading early this week, prolonging a rally that began mid-June and shows no signs of easing in the near-term. In latest business, Egyptian granular urea has traded at $450pt fob, up more than $165pt in a little over six weeks. Producer price ideas have now moved on with…
DetailsThe recovery of Profercy’s Nitrogen Index from the mid-June lows extended for a further week on the back of price gains in urea, ammonium sulphate and nitrate markets. The ongoing challenges in the global ammonia market, as reflected in the sharp drop in the Tampa contract price, were insufficient to hold back gains. The Index,…
DetailsYara plans to invest up to $2 billion in a second state-of-the-art blue ammonia plant as the Scandinavian group continues its push into low-carbon production capacity in the US and mulls permanent shutdowns of some European ammonia plants. Having recently set aside up to $1.45 billion for the full offtake of a 1.2-1.4m.t per…
DetailsPre-Indian tender negativity has given way to newfound producer optimism in the urea market. Business was finalised earlier this week in Rashtriya Chemicals and Fertilizers’ (RCF) import tender, with the Middle East and Russia covering almost all business. The tender saw just 560,000t lined up against a target of 800,000t for shipment by 17 July.…
DetailsEuropean fertilizer market history will be made in around 10 days’ time when the first commercial shipment of blue ammonia ever marketed into the EU arrives at the Bulgarian port of Varna for Agropolychim. Produced and sold by Saudi major Ma’aden, the 25,000t cargo of low-carbon spot material will be discharged at the Black Sea…
DetailsFertiglobe posted single-digit increases in first quarter own-produced ammonia and urea sales volumes to 236,000t and 1.13m. tonnes, respectively, although lower prices meant adjusted net profit fell sharply to $135 million from $361 million in the year-ago period. The world’s largest seaborne exporter of urea and ammonia combined attributed the weaker performance to softer European gas…
DetailsOCI Global and NuStar Energy have signed a deal that will allow the Dutch fertilizer group to transport ammonia on a new segment of NuStar Pipeline Operating Partnership’s ammonia pipeline system. Under the arrangement, NuStar will install a new 14-mile section of pipeline that will connect OCI’s Iowa Fertilizer Company (IFCo) facility with NuStar’s existing…
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