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

Urea

After last week’s steep rises in urea prices, the market this week has been more subdued.

Prices remain firm in the short-term, as product availability is limited for both August and September shipment.

India was unable to secure its full requirement at its last tender. A new tender for September shipment will help to keep stocks tight, combined with the fact that various traders are also looking to buy Aug/Sept tonnes.

Ammonium Nitrate

Availability of imported AN remains extremely limited as European markets remain much firmer than in the UK.

Importers are struggling to buy new cargoes at competitive levels. Once current stocks are sold, prices look likely to rise.