[Urea] On July 23, the daily production of the urea industry was 192,700 tons, an increase of 24,000 tons from the previous working day (correction: the previous working day's production was 190,300 tons); it was 10,800 tons higher than the same period last year; the current operational rate was 83.21%, an increase of 0.75% from the same period last year's 82.46%.
In the third week of July 2025, the stockpile of port potassium chloride was approximately 1.846 million tons, a decrease of 20,000 tons from the second week of July and a decrease of 464,000 tons from the same period last year (excluding bonded warehouses).
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Morning. Int'l paper saw Aug Brazil trade down to $460cfr y'day ($467 on Mon), while in Nola, phys activity remained subdued, but Sep paper traded $440-$438, and Q1 price discovery found at $425.
AG
Jul $460//$480
Aug $455//$465
Sep $450//$465
Q4 $415//$440
Cfr Brazil
Jul $455//$470
Aug $455//$465 – traded $460
Sep $450//$465
Egypt
July $473//$490
Aug $465//$480
Sep $460//$480
Nola
Paper:
Jul $423//$430
Aug $435//$450
Sep $433//$440 – traded $440, $438
Q4 $410//$430
Q1 $410//$430 – traded $425
UAN Nola
Jul $355//$380
Aug $265//$300
Sep $255//$300
Oct $250//$300
DAP Nola
Jul $720//$735
Aug $748// $755
Sep $748//$755
Q3 $745//$753
Q4 $700//$715
Q1 $660//$680
MAP Brazil
Jul $750//$775
Aug $755//$780
Sep $745//$775
In July, the market for ammonium chloride remained in a period of slack demand, and prices were fluctuating at low levels. The selling prices of the combined soda ash and ammonia enterprises were in some cases lower than their production costs, and there was a significant reduction in the overall output of the industry. The operation rates of the combined soda ash and ammonia units were also low. Both the supply and demand sides of the market for ammonium chloride were weak during the month, and it was notably cost-effective compared to urea and ammonium sulfate. In the middle of the month, downstream customers took advantage of lower prices to stock up, leading to a rebound in the market. It is anticipated that in August, the supply will be maintained at a conservative level, and there will be a moderate increase in demand, resulting in a gradual rise in the prices of ammonium chloride.
The production capacity influenced by policies might change.
According to relevant national policies and the actual situation of the urea industry, there might be the following changes in the production capacity of urea plants: the original capacity was achieved through a fixed-bed process, and enterprises that have either already completed or are currently constructing new facilities are expected to phase out their existing fixed-bed capacities within the next two years, resulting in a total capacity of 3.15 million tons. Some of the planned shutdown and renovation projects of urea enterprises in Shanxi have already been carried out between 2023 and 2024, and the remaining renovation capacity will be completed in the latter half of 2025. Due to the varying renovation timelines of different enterprises, the impact of these changes will be spread out over a period of time. The latest information indicates that Jinfeng and Tianyuan will undergo shutdown and renovation in the near future, around the end of this month. As for the remaining few enterprises that produce urea using anthracite coal as their raw material, there are currently no definite plans for renovation or shutdown.
*Longzhong Fertilizer Industry Chain Morning Brief (July 22, 2025)
Phosphate Rock:
Mainstream phosphate rock mines maintain low inventory levels. With autumn fertilizer preparation beginning, phosphate ammonia manufacturers have increased purchasing activity. Downstream factories have limited raw material inventory preparation, causing tight phosphate rock shipments and moderately firm prices.
Sulfur:
Yesterday, the domestic port spot market showed narrow upward movement, with price range reference at 2,350-2,370 yuan/ton, and mainstream reference price up 5 yuan/ton from the previous trading day. Some traders had restocking needs, holders maintained firm quotes, and final buying interest followed suit, pushing the market center slightly higher. For domestic resources, Shandong regional refinery liquid sulfur prices rose significantly, with improved spot trading activity. Auction resource transaction prices were 2,260-2,310 yuan/ton, while major refineries mostly await tomorrow’s latest pricing policy. Focus this cycle on Qatar spot tender performance and terminal procurement dynamics.
Sulfuric Acid:
Yesterday’s domestic sulfuric acid market showed regional differentiation. In Guangdong market, high raw material pyrite prices supported costs, combined with some acid plant maintenance keeping inventory low. Yunfu region raised weekend prices by 30 yuan/ton, with Huizhou acid plants following today. In Henan market, previously maintained equipment resumption and Jiyuan’s new capacity release increased supply, while downstream demand remained weak, causing Sanmenxia acid plant tender prices to decline slightly. Inner Mongolia’s Bayannur region saw improved sales after earlier price cuts, plus unstable supply from some acid plants, leading some companies to raise quotes by 50 yuan/ton today. Guangxi market was driven by external factors, with two major regional acid plants raising quotes by 20-30 yuan/ton today. Currently, Guangdong 98% mineral acid new order ex-factory prices are around 620-700 yuan/ton. Henan region 98% smelting acid ex-factory transaction prices are around 560-600 yuan/ton.
Urea:
Based on yesterday’s new order transactions from some companies, today’s mainstream urea market temporarily shows a firm slight upward trend. However, market participants will follow up cautiously, with the extent of market price increases depending largely on sentiment.
Synthetic Ammonia:
Yesterday, main production area synthetic ammonia markets were mainly stable to rising. Previously maintained ammonia enterprises delayed resumption, with some regional plant failures, overall supply tightening and improved market atmosphere. Short-term synthetic ammonia market expected to continue positive trend.
Ammonium Chloride:
Yesterday’s ammonium chloride market continued steadily, with companies mostly executing previous pending orders. Some currently at low levels are not accepting new orders. Compound fertilizer companies still adopt just-in-time restocking, resisting high prices. Although some company equipment underwent maintenance recently, supply-demand fundamentals showed no obvious changes, so ammonium chloride market will likely remain stable.
Potash Fertilizer:
Yesterday, domestic potash fertilizer market trends were relatively flat. Small and medium traders did not provide clear quotes, mostly negotiating based on market prices case-by-case. Currently imported 62% white potash prices are mostly 3,150-3,450 yuan/ton, with transactions negotiated individually. Potassium sulfate manufacturers maintained previous pricing, with limited high-price transactions.
Phosphate Fertilizer:
Yesterday’s domestic monoammonium phosphate market atmosphere was good, with Hubei 55% powder ex-factory price around 3,420 yuan/ton. Factories have sufficient pending orders, raw material prices rising, downstream just-in-time demand – multiple factors supporting firm operations in the short term.
Yesterday’s domestic diammonium phosphate market remained in stalemate and wait-and-see mode, with company ex-factory prices showing no obvious fluctuation. Demand performance continued to show weakness, overall market trading atmosphere was relatively quiet, with short-term market maintaining consolidation and observation.
Compound Fertilizer:
Yesterday’s domestic compound fertilizer market was mainly wait-and-see. Although potash fertilizer is expected to decline under policy regulation guidance, urea and monoammonium phosphate performed firmly. With autumn fertilizer pre-orders advancing, companies have strong price support intentions, with some still planning increases. Short-term compound fertilizer market expected to be stable with minor adjustments.
Industrial MAP:*
Yesterday’s industrial-grade monoammonium phosphate market maintained weak operations. Domestic 73% industrial-grade monoammonium phosphate mainstream market average price reference was 6,080 yuan/ton, with actual negotiations case-by-case. Market demand was weak with sporadic new order follow-up. Some traders lowered prices to relieve pressure. Short-term industrial MAP market prices may continue declining, with future developments requiring attention to company operations and downstream demand conditions.
Thanks Roy. Good to know. I’m in the market for 30kT urea to arrive in NZ 3rd week September. Petronas cannot supply. Let me know if you can provide a cargo.
one guy paid 410 fob china for prills, others saying offers as low as 390
Tuesday, 22 July 2025 (Acerto)
Urea
Nigeria : Dangote has issued a new tender closing tomorrow, 23 July at 16:00hrs local time (16:00hrs British Summer Time), for the sale of two cargoes of 30,000t granular urea each, with laycans 14-17 August and 19-22 August, respectively.
Dangote awarded two cargoes of 30,000t granular urea each at $465/t and at $480/t FOB Lekki in its 11 July tender, with the cargoes set to load 4-7 August and 12-15 August, respectively.
Re. Pupuk Indonesia urea sales tenders. Only one lot of granular so far at $482.50 FOB. Liven allegedly not awarded prills portions
Morning. Aug/Sep Brazil traded mid/upper-$460s to start the week, while Nola paper bids moved slightly higher to pay last offer levels from Friday on Aug ($445) and Q4 ($425).
AG
Jul $460//$480
Aug $450//$472
Sep $450//$470
Q4 $415//$440
Cfr Brazil
Jul $455//$470
Aug $458//$468 – traded $467
Sep $460//$468 – traded $465
Egypt
July $473//$490
Aug $465//$480
Sep $450//$480
Nola
Paper:
Jul $423//$430
Aug $440//$450 – traded $445
Sep $435//$447
Q4 $415//$430 – traded $425
Q1 $410//$430
UAN Nola
Jul $355//$380
Aug $265//$300
Sep $255//$300
Oct $250//$300
DAP Nola
Jul $720//$735
Sep $748//$755
Q3 $745//$753
Q4 $700//$715
Q1 $660//$680
MAP Brazil
Jul $750//$775
Aug $755//$780
Sep $745//$775
The prices of phosphate ammonium products (regular common varieties) will be announced on July 20, 2025:
· 64% diammonium phosphate: East China region (first arrival point), 3,950 yuan/ton
· 57% diammonium phosphate: North China region (first arrival point), 3,600 yuan/ton
· 55% granular ammonium nitrate: Central China region (ex-factory), 3,350 yuan/ton
· 58% granular ammonium nitrate: East China region (ex-factory), 3,650 yuan/ton
· 60% granular ammonium nitrate: Southwest China (factory price), 3,850 yuan/ton
Dear Sir/Madam,
Pardis Petrochemical Company (PPC) is pleased to submit a proposal for a 30-60 KMT ± 10% in bulk Urea cargo with the below terms :
Product: Granular Urea-Fertilizer in Bulk.
Quantity: 30-60 KMT ± 10% MT in bulk Urea cargo buyer’s option(In one lot) .
Shipment Window: First half of August, 2025 .(To be mutually agreed)
Destination Market: To be declared by the buyer.
Quality: As per the attached PPC's specification
Delivery term: FOB
Load Port: Assaluyeh, Iran
PRICE: Minimum price is 435 USD/MT FIXED PRICE FOB Assaluyeh, The result of the auction will be awarded to the highest price
Payments: 20% of total cargo value to be remitted within 5 working days after account nomination. Balance 80% shall be settled before the vessel’s berthing at Assaluyeh, Iran.
Currency of Payment: AED/USD To be mutually agreed.
Exchange Rate: 3.6725 For USD/AED.
Laycan: To be mutually agreed in a 3-days spread window.
Loading Rate: 8000 MT PWWD TFHEX EIU.
Please send your confirmation till 14:00 Hrs IRST (UTC +3:30 hours) on Tuesday, 22 July, 2025.
Note: In case of receiving buyer's confirmation, PPC reserves the right to/not to allocate the cargo.
UK Demand
UK – S&D 2019/21 21 -'22 32% demand destruction 2023/24 e
AN 1200 800 900
AS 55 37 40
CAN/ASN 151 102 100
UAN 595 500 550
Urea (Ag) 400 600 450
NPK Compounds/Blend 1000 500 600
Straights – K/P 317 216 250
Total (+/- 5%) 3718 2755 2890
Ref AIC/Trade