Hi Phil, I have other CIQ applied cargos to offer now.
Price indication as below:
30,000 tons of granular urea at Bayuquan Port $371 for end-July loading.
20,000 tons of Linggu factory granular urea at Zhenjiang Port at $375 for end-July loading.
The Russian rouble continues to strengthen against the US dollar and has become the world’s best performing currency, up 40% since the start of 2025, as the US trade war rattles financial markets.
But this means domestic transport costs have increased for Russian #fertilizer producers as they pay for transport in roubles but sell in $$$.
https://hallgartenco.com/wp-content/uploads/2025/06/Potash_Review_June2025.pdf
Thanks Roy. Only intel of note is we saw a Nitron/Marnco vessel depart Casablanca for Napier. Will no doubt visit Australia on her way. Am guessing DAP and TSP. Will forward you email (confidentially).
Weekly FOB prices
Prilled Urea(Bulk): FOB $360
Granular Urea(Bulk):FOB $375
Automotive Urea(Big Bag): FOB $375
Ammonium Sulfate (Capro grade):160(Bulk)-Tianjin Port or FOB $156(Bulk)River Port
Ammonium Sulfate (Mixed grade Granular):FOB $166(Bulk)-Tianjin Port
Ammonium Sulfate (Capro grade Granular):FOB $172(Bulk)-Tianjin Port
MAP11-44: FOB$590 (Bulk)-Zhenjiang Port
NP 20-20 : FOB $375 (Bulk)-Tianjin Port or Nanjing Port
NPK14-14-14: FOB $380 (Bulk)-Qindao Port
Calcium Nitrate Granular: FOB $183(Container/Break Bulk)-Tianjin Port
Financial Options: we can offer credit terms of 30-120 days for long-term stable clients. The interest rate will around 6% (annualized)
Market Analysis and Summary
UREA
As of June 4, 2025, the total inventory of urea enterprises in Longzhong Data was 1.0354 million tons, an increase of 54,800 tons from last week, a month-on-month increase of 5.59%, and a year-on-year increase of 366.61%. The daily output was around 207,000 tons. This week, the production and sales of enterprises improved slightly, and the accumulated inventory of enterprises improved marginally. The spot price in the mainstream delivery area was in the range of RMB 1790-1840.
Ammonium Sulfate
This week, the price of ammonium sulfate (AMSUL) has seen a stable. The mainstream delivery price for mixed compacted ammonium sulfate from factories in Hebei, Shandong, and Inner Mongolia to Tianjin Port now ranges from 165–170USD FOB. Offers for standard AMSUL have increased around 159FOB Tianjin Port; 153-158FOB River Port. As of May 30th, port inventories have reached 1,035,000 metric tons.
Best Regards,
sulphur info
CHINA
Canada cargo heard done in the low-$290s CFR
Hengli tender at RMB2,276/tonne
INDONESIA/ SE ASIA
Indonesian buyers still in need of sulphur.
Vietnam tender closed for 8KT. Result unknown
MIDDLE EAST
latest Iranian tenders awarded at $260-270 FOB
MED/B.SEA/AFRICA
No new business. Mainstream Med offers now $310-315/tonne
AMERICAS
Brazil – heard Mosaic bought 30KT last week at 300 CFR
$280 FOB USG discussed.
Morning. Int'l paper 'stand-off' for much of y'day before Jun Brazil paper found value at $390cfr. Loaded Nola barges came under pressure again, but not for long – $357 traded before rebounding to $380.
AG
Jun $380//$395
Jul $375//$390
Aug $375//$390
cfr Brazil
Jun $385//$398 – traded $390
Jul $385//$400
Aug $385//$400
Sep/Oct $405 Offer
Egypt
Jun $390//$400
Jul $385///$400
Aug $375//$395
Q4 $370//$395
Nola
Phys: loaded traded $357, $361, $380
Paper:
Jun $350//$362
Jul $350//$365
Aug $357//$365 – traded $360
Sep $362//$370 – traded $366
Q4 $360//$375
UAN Nola
Jun $320//$340
Aug $225//$270
Sep $225//$270
DAP Nola
Jun $690//$700
Q3 $693//$705 – traded $696
Q4 $665//$680
Q1 $650//$670
MAP Brazil
Jun $718//$730
Jul $720//$735
Aug $710//$730
As of June 4, 2025, China's urea enterprises total inventory of 1.0354 million tons, an increase of 54,800 tons compared with last week, an increase of 5.59%. In this cycle, urea enterprise inventories continued to increase slightly. On the one hand, some urea enterprises accepted export orders, and urea stocks were temporarily locked down during legal inspections. On the other hand, domestic urea demand is tepid, and local agricultural demand has increased, but some regional urea companies still ship poorly. Among the provinces with increased enterprise inventory: Anhui, Gansu, Hainan, Hebei, Henan, Hubei, Jiangxi, Inner Mongolia, Qinghai, Shandong, Sichuan, Yunnan. Enterprises inventory reduction provinces: Heilongjiang, Jilin, Liaoning, Shanxi, Shaanxi, Xinjiang.
Here’s a comprehensive regional breakdown of current price movements and trading activity:
📍Baltic Region
Granular urea rose to $355–367/t FOB, with Brazil defining the lower end. Sellers aim for $370–375/t FOB to Europe, but actual trades landed at $365–370/t FOB. A 10,000t lot was sold at $370–375/t FOB Kotka.
Prilled urea moved to $350–360/t FOB, influenced by India's tender.
🇷🇴 Romania
Granular urea prices remained stable at $420/t CFR duty paid, with no fresh imports reported.
📍Middle East
Spot prices for granular urea climbed to $375–385/t FOB.
Eight cargoes (373kt) were dispatched under IPL’s April tender: 4 from Oman, 3 from Qatar, 1 from Saudi Arabia.
🇸🇦 Saudi Arabia’s Sabic sold 40–45kt at $385/t FOB.
🇴🇲 Oman sold 40kt at $370/t FOB (unconfirmed).
Producers are holding out against bids below $370/t FOB as the Indian tender approaches.
🇮🇷 Iran
Granular urea increased to $335–338/t FOB:
MIS sold 30kt at $335/t FOB (Bandar Imam) and 26kt at $338/t FOB (Assaluyeh).
Pardis closed a new tender, aiming for $345/t FOB following last week’s 90kt sale at $338/t FOB.
🇪🇬 Egypt
Prices ranged $400–410/t FOB for Europe.
Limited availability due to ongoing plant maintenance.
Mopco operating 2 of 3 plants at 90% capacity; Kima, Helwan, and Alexfert continue maintenance.
Abu Qir, NCIC, and EFC operations are partially running or unconfirmed.
🇩🇿 Algeria
At least 40kt traded at $405–410/t FOB.
Sorfert sold 15kt at $405/t FOB for June loading.June volumes are reportedly sold out.
🇿🇦 South Africa
Russian prilled urea indicated at $395–405/t CFR Durban; granular (sanctioned origin) at $370–380/t CFR.
Buyers are holding off major purchases, awaiting July offers.
🇮🇳 India
The highly anticipated NFL tender was issued for 1.5mn t, closing 12 June with delivery by 31 July.
All 20 vessels from the IPL April tender are nominated: 8 from the Middle East, 8 from Russia, 2 from Algeria, 1 each from Nigeria and Indonesia.
🇨🇳 China
CIQ inspection applications began in Shandong, Hebei, and Jiangsu.
A trade of 30kt granular urea was concluded above $370/t FOB.
Prilled urea offered at $360/t+ FOB, granular at $370/t+ FOB.
🌏 Southeast Asia
Offers around $400/t CFR, with bids below $390/t CFR.
Most buyers are sidelined, awaiting Chinese supply and the result of India's tender.
🇮🇩 Indonesia
Gresik closed a 12kt prilled urea tender; highest bid at $350/t FOB.
Kaltim appears sold out for June after selling 160kt+ last week at $370–380/t FOB Bontang.
🇧🇷 Brazil
Prices held at $390–400/t CFR amid low liquidity.
Recent Iranian sales (~150–200kt) at $380/t CFR filled short-term demand.
📌 Takeaway:
Urea prices are trending upward globally, fueled by India’s tender and limited supply in key regions. Producers remain firm on pricing while buyers cautiously assess the market.
5 main drivers of the grain market
After feedback from users, we have decided to provide a weekly summary of the main bullet points of what is happening in the grain markets.
US Wheat Crop Ratings Surprised Markets
A major story this week was the unexpectedly poor condition of US spring wheat, with the USDA rating only 45% of the crop good/excellent. This was well below trade expectations (above 70%). North Dakota’s crop was even weaker at 37%. This supported Minneapolis spring wheat prices at times, but sluggish overall demand left the market down with CBOT in A$ terms, down A$4 to A$324.
Russia and India Expect Big Wheat Crops
Russia’s Sovecon consultancy raised its 2025/26 wheat export forecast to 40.8 million tonnes, and its crop forecast to 81 million tonnes, due to better weather, even as the season’s start may be slow in key regions. India’s wheat production is expected to hit a record 117.5 million tonnes in 2025, helping replenish stocks and avoiding imports this year. Strong harvest outlooks in both countries add to the sense of plentiful global wheat supplies.
Uncertainty Over Ukraine’s Exports and EU Policy
Ukraine’s wheat exports are forecast to drop to 15 million tonnes for 2025/26 amid uncertain harvest prospects and, critically, possible changes in EU import policy. The EU’s current duty-free access for Ukrainian grain is set to expire on June 5, and future trade rules are under negotiation. For now, most new-crop Ukrainian wheat is being sold to the Middle East and Southeast Asia rather than Europe.
Mixed Weather and Currency Moves Shape Market Tone
Weather improved in many grain-growing areas, easing concerns over drought in the US and supporting crop prospects in the Americas and Europe. The US dollar was volatile mid-week, capping US export competitiveness, but weaker by Friday, making US grain slightly more attractive globally. In Russia, the rouble reached a two-year high. Chicago corn and soybeans both ended the week lower, pressured by expectations for ample supplies, strong crop progress, and ongoing uncertainty over US biofuel policy.
Good weather forecast for Australia.
In Australia, there is good rainfall forecast for the majority of the country’s growing region. This will be timely, especially for those struggling with the dry weather in South Australia and Victoria. Let’s just hope that the weather forecasts are not just teasing us.
Reuters surveyed a bunch of Australian analysts last weeks on their planting forecasts. It is important to note that any planting expectations or production forecasts at this point are open to a very large degree of error
Tuesday, 03 June 2025 (Acerto)
Urea
Nigeria: Dangote has sold one cargo of 30,000t of granular urea for mid-June loading at $393/t FOB Lekki under its 2 June sales tender.
Forbes estimates that costs should come to about $140 per ton; potash sells for about $350 a ton today. Global giant Mosaic can produce potash for less—about $80 a ton—but Midwestern farmers are still on the hook for another $80 per ton in rail shipping costs from Saskatchewan, 1,200 miles away, plus any tariffs that President Trump might choose to impose (currently 10% on Canadian potash). Agricultural giant ADM has already agreed to buy nearly all of Pagano’s yearly potash production.
[Urea] On June 3, the daily production of the urea industry was 207,700 tons, an increase of 27,000 tons from the previous working day and an increase of 35,200 tons from the same period last year; today's start-up rate was 90.33%, an increase of 10.69% from 79.64% last year.
Yara is pleased to announce the following prices :
Germany/Benelux : YaraBela®️ NITROMAG®️ (CAN 27%) at EUR 315 pmt bulk CIF
France : YaraBela®️ EXTRAN®️ 33.5 at EUR 395 pmt bulk CPT