The sharp global economic downturn caused by the coronavirus pandemic and the collapse in crude oil prices has wide-ranging implications for the fertilizers industry.
Bookmark this Topic Page to stay up to date at this unprecedented time with expert insight and analysis of the impact these developments are having on fertilizer markets.
Scroll down to see the latest interactive graphics, podcasts and videos.
LATEST HEADLINES
Nigeria’s Indorama closer to starting up 1.3m tonne/year urea line
By Deepika Thapliyal 9-June-20 LONDON (ICIS)--The first of Nigerian producer Dangote Industries Limited’s 1.3m tonne/year granular urea line is undergoing trials and likely to begin exports in first half of 2021, several sources said on Tuesday.
The fertilizer facility is located at Ibeju Lekki in Lagos, and comprises two trains each of urea, both with a daily production capacity of 3,850 tonnes.
In the first phase, only one urea and ammonia line would be commissioned.
PODCAST: Ammonia market in relatively good health despite coronavirus chaos
By Sylvia Traganida 8-Jun-20 LONDON (ICIS)--The global ammonia market has remained relatively resilient during the coronavirus crisis. As a key building block for nitrogen fertilizers and chemicals such as caprolactam (capro) and acrylonitrile (ACN), ammonia is a vital commodity.
Ahead of the third quarter, Richard Ewing, international ammonia market editor, talks to Sylvia Traganida about the pandemic's impact on the industry and his outlook for the months to come.
Ammonia prices and sentiment divided along Suez
By Richard Ewing 5-Jun-20 LONDON (ICIS)--The international ammonia market is now fractured along geographical lines, with contract and spot prices falling west of Suez but proving more resilient east of Suez.
The latest fall in the monthly Baltic contract prices was widely expected given the clear looseness in the demand/supply balance amid weak industrial and agricultural demand.
Monsoon hits India on time, favourable forecast for season
By Deepika Thapliyal 1-Jun-20 LONDON (ICIS)--The southwest monsoon set over Kerala today, marking the usual start of the June-September season, the India Meteorological Department (IMD) confirmed on Monday.
Last year, the onset of the monsoon was a week later than usual, hitting the coast of Kerala on 8 June 2019.
The IMD said rainfall over the country as a whole for the southwest monsoon season is likely to be ‘normal’ or 96-104% of the long period average (LPA) or 50-year average. It was in line with the IMD's previous forecast in mid-April.
Oil prices swept up in the risk-on rally
By Richard Price 1-Jun-20 LONDON (ICIS)--Investors have regained faith in riskier asset classes, pushing their money into commodities and stocks - liquidating positions in perceived safe havens.
The MSCI All-Country Global Equity Index (an index of small-to large-cap stocks from 23 developed and 24 emerging markets) is just 12% off pre-coronavirus levels, having collapsed by almost 35% in March.
Global oil markets are also basking in the glow of improved demand sentiment, with Brent up by 75% since April. However, with global daily new coronavirus cases hitting a record 135,000 on 30 May, is this meteoric rise stoked by sound fundamentals, or are investors getting ahead of themselves?
Downward price pressure on ammonia remains for June loadings
By Richard Ewing 29-May-20 LONDON (ICIS)--A fresh fall in the monthly Tampa contract price set a bearish tone in the global ammonia market heading into June.
The $17/tonne slide to $218/tonne CFR (cost and freight) in the figure agreed by Mosaic and Yara was expected, given the current overcapacity west of Suez, but industry players say the situation is tightening east of Suez.
Similar downward price movement was seen in the Black Sea, as Trammo acquired a combined 30,000 tonnes from four producers at a discount to May business.
China April fertilizers interactive trade map
by Erica Sesay 26-May-20 LONDON (ICIS)--China Customs Statistics has released fertilizers import and export data for April, which is accessible via the ICIS Supply & Demand Database.
Select a product from the drop-down menu in the link.
Ukraine gas demand may rise as fertilisers ramp up output
By Aura Sabadus 20-May-20 BUCHAREST (ICIS)--Ukrainian natural gas demand is expected to pick up as nitrogen fertiliser plants have been ramping up output and exports in recent weeks.
Data collated by the ICIS fertiliser desk showed ammonia and urea producers such as Odessa Port Plant (OPZ), Dniproazot and Ostchem have been increasing production, targeting exports in countries including Turkey, India, Morocco.
After years of subdued output Ukrainian plants are thought to have become globally competitive as domestic gas prices have plunged to record lows.
June 10, 2020 at 04:50PM
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Topic Page: Fertilizers - navigating the global downturn - ICIS
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