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Latest market news

India’s NFL issues tender to buy DAP

  • Market: Fertilizers
  • 03/07/25

Indian fertilizer importer NFL has issued a tender to buy 25,000-50,000t of DAP, closing on 7 July.

NFL is seeking at least 25,000t of black, brown or natural-coloured DAP for shipment from the loading port by 31 July and delivery to India's east coast. Offers must be valid up to 11 July.

NFL closed a tender to buy 50,000t of DAP on 1 July. It received one offer and discussions are reportedly continuing in the low to mid-$800s/t cfr.

Fellow importer Hurl decided to delay the closing date for its tender to buy 50,000t of DAP by a week to 7 July, after receiving no offers.

By Tom Hampson

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18/07/25

Brazil's Bolsonaro put under police surveillance

Brazil's Bolsonaro put under police surveillance

Rio de Janeiro, 18 July (Argus) — Former Brazilian president Jair Bolsonaro has been fitted with an ankle monitor after police raided his home in the capital Brasilia, the latest in a series of court-ordered measures that point to a worsening of his legal situation that could deepen tensions between Brazil and the US. Bolsonaro — who is on trial before the supreme court for an attempted coup — has been ordered to remain at home during certain hours and has been banned from social media and from communicating with foreign diplomats and other defendants. The new measures imposed by the court come in the wake of US President Donald Trump's threat to impose 50pc tariffs on imports from Brazil starting 1 August. Trump said the threat is linked to Bolsonaro's prosecution, calling the trial a "witch hunt". In a 47-page court filing, justice Alexandre de Moraes argued that Bolsonaro and his son Eduardo, a federal congressman, sought help from the US government to pressure Brazilian authorities to interfere in the legal process, calling it a "blatant assault on national sovereignty." Eduardo is in the US and has met with Trump several times to lobby in favor of his father. In response to the latest measure, Eduardo called Moraes a "political gangster in robes" who is "trying to criminalize Trump and the US government". In a televised address on Thursday, President Luiz Inacio Lula da Silva called the tariff threat "unacceptable blackmail in the form of threats to Brazilian institutions". His government has set up an inter-ministerial committee to seek a solution to the impending tariffs . Speaking to journalists on Friday morning, Bolsonaro offered to appeal to Trump directly to resolve the issue. He denied attempting a coup or having plans to flee the country. His passport was seized by authorities in February 2024. By Constance Malleret Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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Pakistan's DAP stocks build in June

16/07/25
News
16/07/25

Pakistan's DAP stocks build in June

London, 16 July (Argus) — Pakistan's national DAP stocks grew throughout June to 324,000t, the sixth consecutive monthly stockbuild in the country, according to data from Pakistan government agency National Fertilizer Development Centre. DAP cargoes lined up by importers ahead of global price increases earlier this year more than replaced early buying in the domestic market in anticipation of rising domestic costs. The country started June with 236,000t of DAP in stock. It imported 128,000t and produced a typical quantity of 75,000t in the month, outweighing sales of 115,000t by 88,000t. DAP offtake so far through Kharif, starting in April, now totals 308,000t. This remains below the 367,000t average for the same period over the three years up to the devastating floods that hit Pakistan in mid-June 2022. But it is 20pc above April-June offtake in 2024. Global DAP prices have escalated in recent months, pushing Pakistani import prices up by nearly $150/t from a midpoint of $652.50/t cfr at the beginning of April. This, coupled with higher raw material prices boosting production costs, has forced domestic DAP prices up to as high as 13,000 rupees/50kg bag ex-Karachi. The firm price trend spurred early domestic buying, but with farmer economics still poor thanks to low crop prices, distributors expect to see a downwards correction in domestic DAP offtake volumes throughout the remainder of Kharif and into Rabi, which starts in October. Cumulative DAP imports throughout Kharif comes to 219,000t, a significant rebound from the 113,000t average for April-June imports over the previous three years. But importers are now showing little interest in adding to the DAP line-up. Latest sales for Chinese DAP are reported in the $790s/t cfr, equivalent to a landed cost in the range Rs14,130-14,320/bag ex-Karachi at current exchange rates. This is well above current domestic prices, which are already leading to demand destruction among farmers. By Tom Hampson Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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EU proposes support package for chemicals sector

15/07/25
News
15/07/25

EU proposes support package for chemicals sector

The measure aims to address high energy costs, global competition and weak demand, writes Dafydd ab Iago Brussels, 15 July (Argus) — The European Commission on 8 July proposed measures to support the EU chemicals sector, aiming to address high energy costs, global competition and weak demand. The plan includes extending emissions trading system (ETS) compensation to more producers and simplifying fertilizer registration rules. The commission says the simplification measures could save the sector €363mn/yr ($423mn/yr). The proposals are part of a broader plan to boost competitiveness and secure supply chains. A new Critical Chemicals Alliance will identify key production sites needing policy support, targeting trade issues such as supply chain dependencies and market distortions. The commission also pledged to apply trade defence measures more quickly and expand chemical import monitoring. Although the commission stopped short of proposing a Critical Chemicals Act — which would legally define specific chemicals for support — it named steam crackers, ammonia, chlorine and methanol as "essential" to the EU economy. The alliance will aim to align investment and co-ordinate support, including through the bloc's Important Projects of Common European Interest programme. The commission also defined low-carbon hydrogen and plans to allow more state aid for electricity-intensive chemical producers by year-end. It encouraged the use of carbon capture, biomass, waste and renewables. The plan uses "all levers" to put the sector back on a growth track, with measures to retain steam crackers and other key assets in Europe, EU industry commissioner Stephane Sejourne says. He also highlighted efforts to secure domestic demand for "clean and made-in-Europe chemicals". Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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Alt-fuel ship orders fall in 1H25: DNV

15/07/25
News
15/07/25

Alt-fuel ship orders fall in 1H25: DNV

Sao Paulo, 15 July (Argus) — Ship orders for new alternative-fuelled vessels fell to 151 in the first half of 2025 compared with 179 a year earlier, according to Norway-based classification agency DNV. These orders represented 19.8mn gross tonnes, up by 78pc from the same period in 2024. LNG-fuelled vessels accounted for 87 of the new orders in the first half, followed by 40 methanol-fuelled ships, 17 LPG-powered vessels, and four hydrogen and three ammonia-fuelled ships. Orders stood at 19 in June, up from 16 in May, with two of these LPG-fuelled carriers. The total fleet of ships that could run on LPG stood at just over 150 in the final quarter of last year , with around 126 on order by 2028 following the latest additions, as orders lag other fuel types despite low prices because of safety issues and a lack of four-stroke engines. New orders, 1H 2025 Fuel Number of vessels LNG-fueled 87 Methanol-fueled 40 LPG-fueled 17 Hydrogen-fueled 4 Ammonia-fueled 3 DNV Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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Brazil attorney general asks court to convict Bolsonaro

15/07/25
News
15/07/25

Brazil attorney general asks court to convict Bolsonaro

Sao Paulo, 15 July (Argus) — Brazilian prosecutors said the country's supreme court (STF) should find former president Jair Bolsonaro and seven other defendants guilty of an attempted coup. In a 517-page briefing that is part of attorney general Paulo Gonet's closing arguments at trial, prosecutors argue that Bolsonaro and the other defendants should be convicted of the crimes of armed criminal organization, attempted violent abolition of the democratic rule of law, coup d'état, damage qualified by violence and serious threat, and damage to government assets. Bolsonaro was the "main orchestrator and biggest beneficiary" of a plot to make sure that he stayed in power despite losing the election to President Luiz Inacio Lula da Silva, Gonet said during the trial. The plot included the 8 January 2023 storming of government buildings in the capital Brasilia and plans to kill his political opponents . Also as part of the plot, Bolsonaro used the power of the state and operated in a "persistent scheme" to attack public institutions and the succession process after the presidential election results, Gonet said. The seven other defendants include Bolsonaro's running mate Walter Braga Netto; former minister Augusto Heleno, who is also an army general; Bolsonaro's former justice minister Anderson Torres; former defense minister Paulo Sergio Nogueira; and Bolsonaro's top aide Mauro Cid. If convicted, Cid is expected to have his sentence suspended due to a plea bargain agreement signed with the federal police during investigations. Cid will now have 15 days to present his final defense. The other defendants will then have an additional 15 days to do the same. A date for the justices to begin deliberations will be set after STF receives all statements. That is expected for September this year, according to the government. If convicted, the defendants, including Bolsonaro, can face up to 43 years in prison. Bolsonaro, Trump push back Bolsonaro — who is barred from running for any public office until 2030 — used social media to call the trial a "shameful farce". Bolsonaro's trial gained a new spotlight after US president Donald Trump threatened to impose a 50pc tariff on imports from Brazil from 1 August, citing an alleged "witch hunt" against Bolsonaro. Lula said Brazil will reciprocate the US tariffs. "Any unilateral tariff increases will be addressed in accordance with Brazil's economic reciprocity law," he said on social media last week. He also added that the country "will not accept any form of tutelage." Lula signed the reciprocity law on Monday, according to the government. It authorizes Brazil to suspend trade, investment and obligation concessions to countries that impose unilateral barriers to Brazilian products in the global market. It also creates a committee — which will be comprised of the ministers of trade, finance, foreign relations and the chief of staff — that will be in charge of deciding trade responses to other countries' unilateral measures. By Lucas Parolin Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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