Gleadell Fertiliser Report
By Calum Findlay, fertiliser trader.
All markets are firm suggesting that the overall trend for Nitrogen prices is upwards.
- The Chinese fertiliser export tax has been confirmed as in place from December 1st and higher prices have now been paid from other origins.
- The announcement of yet another Indian tender will also help to keep both product tight and prices firm well in to Q1 2011.
- Fundamentals have not changed and grain prices, although volatile, remain healthy supporting fertiliser prices in all areas.
- Higher Nitrate prices have been posted in Europe this week and GrowHow and Yara AN prices have now broken through the 300/tonne barrier.
- The Yara plant at AMBES in France will remain down until Feb/March at the earliest and product is tight in Europe.
- All markets are firm suggesting that the overall trend for Nitrogen prices is upwards, but a word of caution is that the whole market continues to be overshadowed by the uncertainty in the Global financial and commodity markets, and this may temper trader enthusiasm for building long positions beyond March/April.
For further information contact Calum Findlay, fertiliser trader on 01427 421244 calum.findlay@gleadell.co.uk
