Latest Gleadell Fetiliser report
By Calum Findlay, fertiliser trader.
UREA
In the last week we have seen the Urea market continue to correct downwards, however, prices may have now found a floor after a bearish couple of weeks.
As stated in last week’s report, with up to 40% of Nitrogen left to be bought in the UK this equates to nearly 800,000mt of total product required between January and March. It is becoming increasingly apparent that some cover is needed to be taken by farmers to ensure they have enough stock to take them through their first cover.
AMMONIUM NITRATE
Ammonium nitrate this week remains stable but quiet. Yara are optimistic about the forthcoming weeks and have kept at similar levels in Europe but are reviewing these in January.
PHOSPHATES
The Phosphates market is quiet globally and in the UK. Interest is now being seen by the US as support to the market has been established through bookings for January. Despite the current lack of demand the pressure to sell has yet to push phosphate prices to drop.
POTASH
The Potash market remains quiet as the global economic crisis continues to slow down demand. Activity is low, however, it is certain to pick up in the New Year as buyers will have to stock up before spring.
SULPHUR
The global sulphur market remains quiet despite a pickup in demand in China. In Europe and the UK, price negotiations have kicked off for Quarter 1 and the higher numbers achieved this week are due to increase in the coming weeks.
FERTILISER market information contact Calum Findlay, fertiliser trader on 01427 421244 calum.findlay@gleadell.co.uk
