Fertiliser Market Report - 29th June 2012
At the beginning of the week the global urea market was still looking for a floor. Pakistan tendered on Monday, buying only 100,000mt and the market continued to move downwards until it found some support yesterday.
There are no indications that there is still room for further declines, but the demand outlook does remains weak for the time being.
India are yet to announce a fresh tender and Latin American buyers are on the side-line which could see a possible rebound in the market if tonnages of 1-1.5 million tonnes are exceeded. The current market situation certainly provides growers with a buying opportunity and Gleadell would recommend that some cover is taken for a September/December delivery.
Ammonium Nitrate demand is slow for UK product and imported material with prices remaining stable. The global situation is weak for ammonium nitrate and we could see producers cutting back on shipments to increase demand and push levels higher.
The phosphates market has slowed down its momentum and currently seems subdued compared with the last few weeks. There has been little new global business concluded this week on quiet demand, however, there is still DAP demand in India, but buyers are unwilling to pay the high prices being asked by producers. Chinese sellers are firm on their price ideas of at least $560 per mt but Pakistan and Bangladesh are quiet at present, while Latin American buyers have also stepped out of the market.
No comments posted yet. Be the first to post a comment
Please enter your name
Please enter your comment
Your comment submitted successfully.Please wait for admin approval.
Some error on your process.Please try one more time.
Butchers in the UK are losing a generation through lack of training opportu...
NASA research has revealed how dust blown from the Sahara desert helps supp...
“In the run up to the Budget 2015 most commentators were predicting that th...
The UK’s first fully operational floating solar panel system has been unvei...
Axing the badger cull in England and Wales will save more than £120 million...
By 2025, solar power could become one of the cheapest forms of energy in ma...
Demand for Scottish farm land remains strong and continues to be better val...
The Welsh red meat industry should aim to increase sales by at least 34 per...
Fears about the impact that a proposed transatlantic trade agreement could ...