The 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…
DetailsThe long awaited Indian purchasing tender is finally nearing a conclusion. This week price details were announced with the lowest offers above $715pt cfr for the west coast and above $720pt cfr for the east coast. This has resulted in further declines in global fob values, but these have not been as sharp as some…
DetailsThe Profercy World Nitrogen Index (PWNI) has dipped lower this week, although the losses have not been as sharp as those seen in recent weeks. With liquidity remaining light in the urea market ahead of the imminent purchasing inquiry by India’s RCF, the decline in fob values has slowed down this week and some believe…
DetailsA large fall in the Tampa contract for May loadings and spot sale into Morocco from the Middle East at a hefty discount to last business underlined the ammonia market’s increasingly bearish tone as prices finally started to correct. Prices have cooled amid softening demand from industrial users in several countries, delayed orders from the…
DetailsApril has been a challenging month for those holding urea. After a tumultuous March in which the market was reacting to the impact of war in Ukraine and subsequent sanctions on Russia, liquidity has since been light in the east and west. The slowdown in European and US import demand, as well as the absence…
DetailsThe latest purchasing inquiry by India’s IPL for 78,000t of urea for shipment by mid-May saw limited participation, with offers received at significantly lower levels from just four companies. The relatively short shipment window and small volume sought will have limited the number of participants in the tender. Indeed, the offers were lower than many…
DetailsWith India delaying its major purchasing inquiry this week, global urea values have once again eroded as buyers continue to show reluctance in committing to purchases ahead of the Indian tender. The Profercy World Nitrogen Index has made further significant declines this week as a result, falling by around 30 points. While the largest urea…
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