Spot 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…
DetailsAfter weeks of inactivity caused by lackluster demand and producers maintaining official offer levels close to $700pt fob, renewed interest has returned to the market with substantial volumes of granular and prilled urea trading over the last few days. Late last week, reports began to emerge that Egyptian producers had revised price ideas down to…
DetailsThe Profercy World Nitrogen Index has descended again this week. With demand for all nitrogen products remaining lacklustre, values across the nitrogen-based complex have eroded further. In the urea market, buyers in almost all major buying regions remained absent from the market. With demand lacking for a number of weeks, producers have been left with…
DetailsThe Mexican Secretariat of Economy formally announced this week that import tariffs on ammonium sulphate, regardless of origin, will be completely suspended for six months. This includes on amsul imports from China and the USA. Amsul from both major producers has effectively been blocked since 2015. The tariffs being suspended are $0.0759 per kg for…
DetailsThe Profercy World Nitrogen Index (PWNI) has hit the lowest point seen so far this year, as values of nitrogen-based products eroded further this week. In the urea market, activity slowed down following the conclusion of India’s latest purchasing inquiry. With producers under no significant pressure to place cargoes, and buyers equally content, there was…
DetailsAmbitious plans for a $2 billion blue ammonia facility in Louisiana that will capture at least 90% of CO2 emissions are a key step towards the fertilizer giant’s goal of net-zero, Ashley Harris, Vice President of Environmental Performance and Innovation tells Profercy in an interview. From gleaming offices in the heart of the Canadian Prairies,…
DetailsThe latest purchasing inquiry by India’s RCF reached a conclusion this week, with the state agency issuing LOIs for close to 1.65m. tonnes of urea for shipment by 5 July. Confirmations were submitted by participants in the tender on Monday, following counter offers being issued late last week at $716.50pt cfr west coast, and $721.30pt…
DetailsAfter an extended hiatus, Russian producers have re-entered the international ammonium nitrate markets. This has resulted in a major reduction in AN values on both a cfr and fob basis. The weakness in the global urea market has been the main determining factor for AN values over the last week as buyers declined to accept…
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