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Latest market news

Qatar March sulphur price announcement postponed

  • Market: Fertilizers
  • 01/03/26

State-owned QatarEnergy Marketing has postponed the announcement of its March Qatar Sulphur Price (QSP) to Wednesday 4 March.

The supplier quoted recent geopolitical developments as the reason for the postponement today, 1 March. The QSP was expected to be issued today.

February's QSP was set at $520/t fob, up by $3/t from $517/t fob Ras Laffan/Mesaieed for January.

A downward correction was widely anticipated for March prior to the US-Israeli attack on Iran on Saturday, 28 February. Markets are now bracing for disruptions to oil, gas and sulphur deliveries, which could change the direction of the market.

By Maria Mosquera

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28/02/26

Egypt urea sold higher after US, Israel attack on Iran

Egypt urea sold higher after US, Israel attack on Iran

Amsterdam, 28 February (Argus) — Egyptian fertilizer producer Mopco has sold 6,000t of granular urea at $505/t fob, while fellow supplier Alexfert concluded 6,000t at $495/t fob. Both cargoes are for loading in March and likely to be for European markets. Argus assessed granular urea at $480-485/t fob Egypt to Europe on 27 February. Prices have jumped after the US military today began "major combat operations" in Iran following co-ordinated Israeli strikes. Iran has responded by firing missiles towards Israel and US military bases across the region. Multiple Egyptian urea producers have reported no change in gas supply to plants in the country so far in the aftermath of the attacks. But Israel's energy ministry has instructed Greek firm Energean to temporarily suspend production at its offshore Karish gas field "following the recent geopolitical escalation in the region", the company told Argus . A source said Israel has also ordered the closure of the country's largest gas field, Leviathan, as a precautionary measure. Leviathan operator Chevron referred questions to the energy ministry. There is no indication of the status of Chevron's other gas field in Israel, Tamar. Gas flows from Israel to Egypt were cut in the wake of the conflict between Israel and Iran in mid-June last year, which resulted in all Egyptian urea production being taken offline, sending urea prices into Europe soaring. The Middle East is the largest urea export region globally and ships around 20mn t/yr, of which Iran accounts for about a quarter. Egypt typically exports around 4mn t/yr of urea, mostly to Europe. Major urea producers in the Middle East host US forces, including Saudi Arabia, Qatar, the UAE, Bahrain and Oman. By Harry Minihan Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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Indorama matches Nutrien on 1Q Indian phosacid price

26/02/26
News
26/02/26

Indorama matches Nutrien on 1Q Indian phosacid price

London, 26 February (Argus) — Senegalese producer Indorama has confirmed settlement of its first-quarter phosphoric acid contract price with Indian importer IFFCO at $1,290/t P2O5 cfr with 30 days' credit. The price is in line with Nutrien and Coromandel's first-quarter settlement earlier this month. It is also unchanged from contract settlements for the last quarter. By Tom Hampson Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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S Korea to spend $130mn on clean shipping tech projects

24/02/26
News
24/02/26

S Korea to spend $130mn on clean shipping tech projects

London, 24 February (Argus) — South Korea's trade, industry and energy ministry will invest 187.3bn won ($130mn) this year in clean shipbuilding technologies, including hydrogen- and ammonia-fuelled vessels. The funding is part of a wider plan to spend W320bn on shipbuilding innovation in 2026. More than half of this year's budget will go towards developing ammonia- and hydrogen-fuelled engines, onboard carbon-capture systems and electric-propulsion equipment for medium- to large-sized vessels. Key projects include developing ammonia-fired gas turbines and the fuel-supply systems needed for large commercial ships. The government will also support work on hydrogen–diesel dual-fuel engines and hybrid systems that combine electric propulsion with fuel cells. Seoul will fund several types of onboard carbon-capture technology, including wet scrubbing, cryogenic separation and adsorption systems. Additional clean shipping investment will target electric propulsion for offshore wind support vessels and autonomous tugboats. The plan also aims to expand the use of artificial intelligence in shipyards and shipping. This includes automated block handling, welding and logistics using unmanned mobile robots. Data from 30 vessels will be collected to train autonomous navigation models, and funding will support remotely operated and autonomous tugboats. The ministry said the investment follows a strong year for Korean shipbuilders, whose exports reached $31.8bn in 2025, their highest level in eight years, driven largely by demand for high-value LNG carriers. By Chingis Idrissov South Korea's 2025 & 2026 funding for shipbuilding technologies Category 2025 amount (W bn) 2026 amount (W bn) Growth (pc) Clean shipping technologies 171.6 187.3 9.1 AI & digital shipyards 66.7 94.9 42.3 Autonomous navigation vessels 20.3 37.8 86.2 Total 259 320 23.7 South Korea's ministry of trade, industry and energy Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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New US 10pc tariff goes into effect

24/02/26
News
24/02/26

New US 10pc tariff goes into effect

Washington, 24 February (Argus) — A new 10pc tariff on US imports from all countries went into effect on Tuesday, replacing the emergency tariffs imposed last year that the Supreme Court struck down on 20 February. The new tariff will exempt energy, critical minerals, fertilizers and certain agricultural imports. It will also exempt imports eligible for duty-free treatment under the US-Mexico-Canada free trade agreement. The 10pc tariff will not be added on top of existing sectoral duties on steel, aluminum, copper, cars and auto parts. President Donald Trump on 20 February invoked Section 122 of the 1974 Trade Expansion Act to impose the 10pc tariff. A day later, Trump posted on his social media platform that he would raise the rate to 15pc, but the social media post does not have legal force. The US will assess the Section 122 duty at the 10pc level, the Customs and Border Protection (CBP) agency said late on Monday. The law cited by Trump allows him to maintain the 10pc tariff for a period of 150 days, unless the US Congress authorizes an extension. CBP also said it will stop collecting the invalidated emergency tariffs effective on Tuesday. The agency said it was ready to "implement current and any forthcoming executive actions as directed by the president" with regard to refunding an estimated $175bn in tariffs the US Supreme Court said were imposed unlawfully. Trump said he is expecting a years-long court fight over refunds. By Haik Gugarats Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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Egypt’s NCIC awards fertilizers sales tender: Update

24/02/26
News
24/02/26

Egypt’s NCIC awards fertilizers sales tender: Update

Updates that the reported prices are the highest awarded prices for each product London, 24 February (Argus) — Egyptian producer NCIC has reported selling various fertilizers for loading in March in its latest tender , which closed on 19 February. NCIC reports the following awards in the tender: 20,000t of DAP at $750/t fob — it reported selling 60,000t of DAP at $725-745/t fob in its previous tender, probably all for shipment to Europe 25,000t of TSP at $560/t fob — it sold 18,000t at $547-550/t fob in its previous tender 20,000t of granular urea at $492/t fob — it sold 12,000t at $475/t fob in its previous tender 20,000t of CAN26 at $305/t fob — it sold 5,000t at $315-325/t fob in its previous tender, having offered 34,000t 500t of water-soluble SOP at $575/t fob — it sold 1,000t at $560-580/t fob in its previous tender, having offered 2,000t. Argus understands that the prices reported by NCIC are the highest awarded prices for each product in the tender. Some awards for some of the quantities may be slightly lower. The quantities of DAP, TSP, urea and CAN26 awarded in this latest tender are the full quantities offered. NCIC had offered 1,000t of SOP in 25kg bags in this tender. No buy-side confirmations have yet emerged and the destinations of the products awarded are not yet known. NCIC's previous tender offered February-loading fertilizers and closed on 25 January. By Tom Hampson Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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