Gleadell Fertiliser Market Report - 21st April 2011

In general, the urea market remains firm with higher prices confirmed in Yuzhny and the Arabian Gulf. Short covering appears to be the main driver as trader’s cash-in existing positions.

Looking ahead, the demand outlook is uncertain and European buying for the present season will draw to a close soon.

In the UK, the wide spread of prices between AN and urea that were seen last week are narrowing and AN looks to be firming again as supply gets tighter.

The phosphates market is still stable to firm, with producers - particularly Russian producers - very comfortable for April and into May.

Spot tonnes are already beginning to sell essentially at rollover prices to a slight increase.