Urea

Weather issues have delayed further application of product, helping to clear a backlog of deliveries.

Urea is easing from recent highs and the general trend is downward as we look towards the traditional correcting of values in the second quarter of the year.

Ammonium Nitrate/Sulphur

AN is still firm as peak demand time is upon us. Further price increases are expected, but as demand slows due to the inclement weather this upward trend may have temporarily slowed.

Ammonium sulphate price levels have also eased on the global market, due to lower spot trades into Brazil.

Phosphates

With an Indian tender for 145,000t of DAP on the horizon, the expectation is for some firmer prices due for DAP, MAP and TSP. DAP/MAP values have also firmed in the US as stocks continue to be sold to fulfil a late season requirement.

Reductions in production are starting to bite, and producers are fully aware that values remain at a large discount to levels being quoted a year ago. The UK is totally dependent on imported phosphate so world supply and pricing will direct the domestic market higher, perhaps even to last year’s levels of nearer £400/t?

Potash

With most large potash supply arrangements now in place, the global potash market is firm.

China has secured supply at a level equivalent to £320/t bulk delivered to port, which is more in line with UK domestic pricing. UK levels continue to firm as demand increases amid more shipments arriving to the UK.

Manufacturers continue to push for higher prices.