UREA 

Globally we have seen Urea prices correcting slightly over the past week in a fairly unstable market.  With prices taking a bearish downwards turn there is definitely a buying window currently as the feeling is that prices will bounce back up before the end of the year.

With tenders closing in Indonesia and Bangladesh the market would appear to be bullish again but still feeling nervous as it awaits further buying evidence to surface.

The European and UK market is still quiet as economic issues are creating some uncertainty for European buyers. UK buyers are taking a “wait and see” approach but, as we have seen Urea prices falling, more European importers have stepped in to buy urea as it starts to look attractive again compared to AN or UAN.

Summary

Overall, the market still seems volatile on the Urea front but, in our opinion, a good time to cover in some Urea before prices bounce rebound. 

PHOSPHATES

The phosphates market remains fairly quiet with prices holding, outside India demand is slow but again economic uncertainty is still prompting some caution.

AMMONIUM NITRATE

Ammonium Nitrate is still holding its price throughout October due to global producers closing factories to perform maintenance work and no new product coming into the UK.

GrowHow continue to move prices upwards, announcing a further £5/tonne increase for December deliveries making on farm levels now over £360/ tonne.

SULPHUR

Globally, the sulphur market is very firm despite the lack of Chinese demand recently.  UK and European demand is still strong.