Calum Findlay, Gleadell’s fertiliser manager, comments on the fertiliser markets

Urea

Globally, traders have covered the majority of shorts and recent trades have concluded at levels similar to previous weeks.

Values in the UK remain about £20/t below replacement levels as demand remains steady.

Product is on offer for delivery in the Dec/Feb window when demand is expected to increase.

Ammonium nitrate

In Europe, Yara has announced new prices, including a €5/t rise in AN and a €15/t rise in CAN.

AN importers are struggling to move values higher due to high stock levels.

Phosphate and potash

Blended PKs remain at recent lows as blenders continue to compete for tonnes.

The potash trade is a similar picture, with ample stocks on the east coast.