Calum Findlay comments on the markets

US prices (NOLA) have slipped due to regional demand concerns for nitrogen and traders chasing values that calculate to re-export to other markets such as India and Brazil.

North African FOB prices remaining supported by Europe, which continues to be a premium market due to regional production costs.

UK granular urea continues to trade at a discount to ammonium nitrate (AN) and urea ammonium nitrate (UAN) products on a £/kg basis.

Natural gas prices jumped about 9% this morning in the UK, hitting highs not seen since March/April 2022, when AN prices were between £785-915/t.

AN terms for spot delivery remain available on a limited tonnage basis.

Liquid UAN prices remain available for summer tank fill. Spring fill terms are not yet available.