Calum Findlay, comments on the markets

UK ammonium nitrate producer CF has released new terms for Nitram, moving prices up a further £15/t for December and January delivery.

Russian ammonium nitrate producers have reported that the lack of railcars has accelerated this month. This has resulted in some cargoes being stuck at their plants, leaving purchasers unclear as to when they will reach designated ports.

The global granular urea market is still showing healthy demand, keeping prices stable. Europe is well behind usual purchasing by this time of the year. 

The US is expecting a bumper corn crop and subsequently forecasts strong spring demand. India is running at its lowest stock level for seven years so a further tender will be released at some stage in December. This will further tighten global availability.

DAP prices have risen, reflecting lower stocks in the UK, and TSP prices remain supported at historical high levels.

MOP is again in the headlines, with tensions rising in Belarus, which supplies 30% of the world’s potash. Current sanctions in place may restrict buying options, changing trade flows and adding additional shipping costs.