Ureabloggen

  Market update – granular urea The table below shows price changes in EU and US natural gas, fertilizers and crops compared to previous blog. Source: Refinitiv Datastream It's been reported that granular urea has been traded lower in recent weeks, according to ADM Agri. This does not match with our data from Refinitiv (which are American prices), so we assume ADM Agri are referring to European granular urea.    Supply side – China has increased its urea production the last weeks to record highs, with a utilization rate of 85 % of its capacity. On the other hand, due upcoming inspections from the CIQ in April, it is anticipated that exports will start up in mid-May. (Sparebank 1 Markets, 2024). Falling gas prices have stabilized at a low level, and with less uncertainty. This can lead to producers coming back into the market, and pressure down the prices. Demand side – Low inventories in the US have given western producers optimism. In addition, upcoming d...

  Welcome back to our blog. This time, we will spend some time on the natural gas market, and then give a short update on the fertilizer market.     Supply ( natural gas)     Recent data from S&P Global Commodity Insights reveals some notable shifts in supply dynamics. The average total natural gas supply experienced a slight decline of 0.1% compared to the previous report week and a 0.2% decrease in dry natural gas production. This production level, currently at 101.6 Bcf /d, is approximately 4 Bcf /d lower than the record high set in December 2023. Interestingly, average net imports from Canada saw a modest increase of 2.1%, indicating the importance of cross-border trade in ensuring supply adequacy. Moreover, industry responses to market conditions have been notable, with CNX Resources announcing a delay in completion activities on some upcoming wells, aligning with similar decisions from industry peers like Chesapeake Energy and EQT Corporation...