While the European energy crisis has dominated news and business headlines in recent months and underlined the importance of the continent’s many ammonia producers to global fertilizer markets, trouble has also been brewing in northeast Asia, albeit without the same amount of press coverage. Through an unfortunate combination of devaluating regional currencies against the US…
DetailsThe conclusion of the latest RCF India urea purchasing inquiry saw 874,000t booked by the state purchasing agency late last week, below its initial target of 1m. tonnes or more. As a result, many expect that India will need to return to the market again next month. Import demand for around 2.5m. tonnes or more…
DetailsIn a relatively quiet week for the international ammonia market, the headline news was the United Nations’ (UN) surprise bid to broker a deal for a potential restart of Russian exports from Yuzhnyy. The announcement raised plenty of eyebrows among market players, with some worried the arrival of 170,000t per month of material could create…
DetailsThe Profercy World Nitrogen Index (PWNI) has fallen further this week, as limited activity across the urea market continues to weigh on both cfr and fob values. A urea tender held by Pupuk Holdings in Indonesia this week saw granular urea volumes committed at $555-560pt fob, lower than what producers in the region had been…
DetailsThe Profercy World Nitrogen Index (PWNI) has rapidly ascended this week, climbing to over 300 points, as nitrogen values continue to firm amid increasing concerns over future fertilizer production in Europe. With Dutch TTF gas prices trading around €200/MWh over the past week, European fertilizer producers continue to weigh up the profitability of running operations.…
DetailsThe US International Trade Commission (ITC) has today made a final negative determination in its investigation concerning UAN solutions from Russia and Trinidad and Tobago. Ultimately, the decision confirms that product from both major offshore suppliers will not be subject to anti-dumping or countervailing duties. The ITC and Department of Commerce (DOC) have been running…
DetailsThe European gas situation has led to a flurry of pricing activity in the nitrates market, albeit against little concluded business. With nitrates the primary premium nitrogen product in Europe, producers are expected to do their utmost to keep production running at capacity even if output levels for other products including urea, UAN and ammonia…
DetailsSpot activity is increasingly concentrated on European countries as runaway natgas costs across the continent force manufacturers to curtail capacity and source from other continents. The higher demand has seen deals struck at higher prices than previous weeks, but outside of Europe the market is relatively bearish due to weak demand from major chemicals producers…
DetailsHexagon Group AG and Aries Fertilizers Group Pte Ltd have announced that Hexagon has acquired 100% of the shares of Aries, effective from today (30 June). In a statement, Hexagon states it will expand its presence in the field of trading, marketing and logistics of fertilizers to Asia, setting the base for further growth in…
DetailsNorth African granular fob values make triple-digit gains Firm gas prices a concern for European producers and importers Nigerian and US material booked for shipment to eastern Europe Urea values recovered in spectacular fashion this week with Egyptian fob values rallying more than $100pt in a matter of days. As demonstrated below, the move has…
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