Nitrogen

The announcement of an Indian tender closing today is expected to refuel a currently quiet urea market. Fresh urea sales in Egypt have kept the market firm since US demand slowed down. Producers in the Baltic are comfortable and prices remain firm with most trader positions for May/June being sold out. The global market is set to remain firm throughout Q2 with no early signs of correction.

Ammonium nitrate prices have increased globally on rising demand from Brazil and Europe. The continual firmness of urea will add to the optimism that AN prices will move higher during May.

 In the UK, the nationals AN prices are stable with prices likely to be revised in June when the new season starts. Imported AN is still very competitive, especially on Lithuanian and Polish product in the UK. Many suppliers have now sold out of their June positions with the focus turning to July/August.

Phosphates

The floor on the phosphate market has certainly been established and global prices are set to firm further. China moved into the spotlight this week making substantial offers for MAP/DAP that has sparked the market throughout Asia. Markets in peak usage today such as the US and Europe still see active prompt interest and solid prices. Demand for phosphates in the UK have been boosted as buyers foresee similar market trends on the back of a continuously firming urea market.

Sulphur

Activity in the global sulphur market has been limited this week. Sulphur demand has increased however in the UK and prices are beginning to firm. NS grade demand particularly has increased with new imports of various grades being offered.