Nitrogen
Overview
The ease of urea availability east and west of Suez has shaped the current trade flows of this key nitrogen fertilizer. Despite challenges posed by energy prices and military conflicts, key import markets such as India, Australia, and Latin America remain robust. But structural oversupply and the role of China as a swing exporter have led to price volatility as this fast-moving market seeks equilibrium, more so during seasonally high-demand periods.
Our extensive nitrogen coverage includes prilled and granular urea, UAN, ammonium nitrate, and ammonium sulphate. Argus has many decades of experience covering the nitrogen market and incorporates our multi-commodity market expertise in key areas including ammonia and natural gas to provide the full market narrative.
Argus support market participants with:
- Daily and weekly nitrogen price assessments, proprietary data and market commentary
- Short and medium to long-term forecasting, modelling and analysis of urea prices, supply, demand, trade and projects
- Bespoke consulting project support
Latest nitrogen news
Browse the latest market moving news on the global nitrogen industry.
Urea prices remain under pressure on latest sales
Urea prices remain under pressure on latest sales
Amsterdam, 16 April (Argus) — Price indications for urea in north Africa and from the Black Sea have fallen, while fresh sales for Nigerian urea have taken place at $255/t fob, as the market continues to shrug off tensions in the Middle East. Nigerian producer Dangote has sold two 30,000t cargoes of granular urea, probably at around $255/t fob for loading in the second half of this month. Bids were heard in the low $250s/t fob and below last week. Indications for Egyptian granular urea to European markets have slipped to $300-305/t fob with bids at $295/t fob and below. Argus assessed urea at $305-310/t fob Egypt for Europe yesterday. Indications for Algerian urea to Europe broadly span $300-310/t fob. A supplier has sold a small lot of Turkmen granular urea at around $260/t fob Poti for loading in the first half of next month, down from offers around $270/t fob at the end of last week. US loaded barge prices have also slipped to $300-310/short ton fob Nola, framed by bids and offers, having traded at $311/st fob yesterday. Full-April barges traded at $304/st and $305/st fob earlier today. The physical urea market has mostly brushed aside the intensifying tensions in the Middle East, after Iran fired drones and missiles at Israel on 13 April, with two cargoes probably concluding lower at $255/t fob Iran on 15 April . Iran exported about 5mn t of urea last year, while the Middle East accounted for 19mn t out of 52mn t of global trade, Argus data show. By Harry Minihan Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Argentina to remove import duties on urea, UAN: Caputo
Argentina to remove import duties on urea, UAN: Caputo
Amsterdam, 10 April (Argus) — Argentina's economic minister Luis Caputo is proposing to eliminate import tariffs of 5.4pc and 3.6pc on nitrogen-based fertilizers urea and UAN. Caputo reported the planned move on X, formally known as Twitter, without specifying a timeline. Argentina is the third-largest urea import market in Latin America, after Brazil and Mexico, receiving 825,000t last year, and as much as 1.55mn t in 2021, trade data show. Egyptian product accounted for 44pc of imports, or 364,000t, in 2023. Argentina has a commercial agreement with Egypt which exempts the import duty. Meanwhile, Nigerian producers supplied almost a fifth at 156,000t, while imports of Algerian urea were 125,000t last year. The country has one major urea producer, Profertil, which is jointly owned by north America's Nutrien and Argentinian state-owned energy company YPF, and has an annual granular urea capacity of 1.32mn t. UAN receipts were around 350,000 last year, down from just over 680,000t in 2020. Imports are typically sourced from the US, Trinidad and Tobago and Russia. By Harry Minihan Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
India’s urea stocks climb by 17pc in March
India’s urea stocks climb by 17pc in March
Amsterdam, 4 April (Argus) — Indian urea inventories rose to around 8.8mn t by the end of last month, up by 17pc from 7.5mn t at the end of February, as output and imports rose to offset stable sales. Production hit 2.49mn t last month, up from 2.38mn t a year earlier, provisional official data show. It also marks a rise from 2.33mn t in February, which typically sees lower levels during the turnaround season. Sales in March were largely stable from a year earlier at 1.57mn t. The rise in production combined with imports of 375,000t to push urea stocks up to around 8.8mn t, having started March at 7.5mn t (see chart) . And inventories are set to receive further support in the coming months with importer and supplier Rashtriya Chemicals and Fertilizers' (RCF) conclusion of its 27 March tender , buying 724,000t of urea for shipment from load ports up to 20 May. Indian urea production surges in 2023-24 The higher output lifted total fertilizer production to 31.3mn t between April 2023 and March 2024, up by 9.8pc from 28.5mn t in the 2022-23 fertilizer year. The rise in domestic production can be largely attributed to supplier Hindustan Urvarak and Rasayan (Hurl), which tripled urea output in 2023-24 to 3.55mn t, as it ramped up production at its three sites. Hurl produced 1.21mn t of urea in the 2022-23 fertilizer year, according to its last annual report. Fellow producer Matix has also increased output at its 1.3mn t/yr Panagarh plant since early 2022. Cumulative urea sales across the country were 35.8mn t in 2023-24, up slightly from 35.7mn t. Inventories climbed by a net 2.6mn t in 2023-24, marking the highest in recent years and dwarfing an increase of 405,000t in 2022-23, largely driven by the rise in domestic output. By Harry Minihan India's monthly net change in urea stocks (mn t) Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Bridge collapse disrupts Baltimore UAN imports
Bridge collapse disrupts Baltimore UAN imports
Houston, 27 March (Argus) — UAN distributors near Baltimore, Maryland, are holding off from issuing new offers until it becomes clearer when the port there will reopen following its closure from a major bridge collapse. There is limited spot availability for UAN in Baltimore, market participants told Argus . At least one UAN vessel was due to arrive in Baltimore in April. Vessels delivering to Baltimore could be diverted elsewhere, possibly to ports like Chesapeake, Virginia, Philadelphia, Pennsylvania, or Wilmington, North Carolina. The east coast terminal UAN price — encompassing the US eastern seaboard — has risen by 13pc since the beginning of the year because of seasonal demand to $300/st fot on 29 February, where the price has held since. When offers for UAN in Baltimore do re-surface they will likely do so at higher levels because of restricted supply to the port. By Calder Jett Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
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