The Urea market is firming further globally with the rebound continuing. Pakistan have managed to only buy 50,000 tonnes of the 300,000 tonnes they wanted, with the balance to be retendered on 19th January. This, along with increasing corn prices, production cutbacks from manufacturers and the feeling from traders globally that the down trade had gone too far, has only added fuel to the fire.
Many traders in Europe are struggling to secure tonnage and product looks to be tight globally as buyers compete for February positions. The news on Pakistan’s tender turned producers globally bullish, with buying evident in Southern Europe where prompt tonnes are also needed. Buyers from Thailand, Chile, USA and Southeast Asia are all enquiring with demand continuing to pick up.
Overall, the market seems to have gained strength over the past 10 days as we enter the spring buying season and this looks to continue for Quarter 1.dAMMONIUM NITRATE
AN prices are firming globally. In the UK however, levels for imported AN have remained static as GrowHow and Yara hold pre-Christmas pricing. Levels are predicted to increase over the next few weeks in line with Urea prices and demand as the usage period approachesPHOSPHATES</div>
Demand on phosphates is picking up in the UK as spring requirement is being booked. Globally, the market is quiet with demand only being seen on the US domestic market. TSP/DAP prices remain stable however and have not seemed to increase with demand
POTASH
Potash demand has increased in Europe and the UK over the past week but, again, prices seem relatively unchanged. Prices remain under pressure because of the macroeconomic situation and the biggest potash markets, China and India are showing signs of weakness. Domestic prices in China are declining and the demand in India has taken a hit because of the surge in retail prices.
SULPHUR
The European/UK Sulphur market is firm with demand increasing significantly since the New Year. Chinese demand is likely to remain weak because of on-going Q1 contract talks, falling domestic prices and a looming Lunar New Year holiday beginning 23 January