Today's market analysis
After the Dragon Boat Festival, the domestic urea market has been fluctuating and stagnant. The industry has temporarily continued, and the main agricultural areas have made some progress, but the driving force is still limited. Under the condition of sufficient supply, it is expected to develop well again. At present, the market can only be delayed for a short time and move forward a little bit.
Looks like India is main rock and sulphur market
Good morning. Following NFL announcement last week, Int'l paper values initially found support, w/ activity on Brazil & AG. Higher phys sales reported in Egypt on Fri. Mkts framed close of week:
AG
Jun $380//$397
Jul $380//$387
Aug $380//$387
_[Aug $385-$395 (2k) last week]_
cfr Brazil
Jun $387//$400
_[Jun traded $395 l/w]_
Jul $395//$405
_[Jul traded $390-$395 l/w]_
Aug $395//$405 – traded $405 Fri
_[Aug traded $395-$405 l/w]_
Sep/Oct $392//$410
Egypt
AQ sold $405 (5k) – Jun ship't
Jun $400//$410
Jul $390///$405
Aug $380//$400
Q4 $370//$395
Nola
Phys: loaded traded $385 Fri
Paper:
Jun $365//$372 – traded $370 Fri
Jul $360//$365
Aug $360//$367
Sep $365//$375 -Q3 traded $365 Fri
Q4 $370//$385
UAN Nola
Jun $320//$340
Aug $225//$275
Sep $225//$275
DAP Nola
Jun $690//$700
Q3 $690//$700
Q4 $665//$680
Q1 $650//$670
MAP Brazil
Jun $718//$730
Jul $720//$730
Aug $710//$725
โ
360-385 cfr
Gd
Iranian major urea producers announced $350/mt officially for this week.
๐ฃ๐ต๐ผ๐๐ฝ๐ต๐ฎ๐๐ฒ ๐๐ฒ๐ฟ๐๐ถ๐น๐ถ๐๐ฒ๐ฟ ๐ฃ๐ฟ๐ถ๐ฐ๐ฒ๐ ๐๐น๐ถ๐บ๐ฏ โ ๐๐ผ๐ฟ๐ฑ๐ฎ๐ปโ๐ ๐ฅ๐ผ๐ฐ๐ธ ๐ฎ๐ ๐๐ต๐ฒ ๐๐ฒ๐ป๐๐ฒ๐ฟ ๐ผ๐ณ ๐๐ต๐ฒ ๐ฆ๐๐ฟ๐ด๐ฒ
The global fertilizer market is tightening, and at the heart of this shift is something elemental: phosphate rock, especially from Jordan.
According to the latest Reports, rising raw material costs are fueling a notable increase in downstream fertilizer prices:
1. Jordanian phosphate rock (68โ70% BPL) has jumped to $135โ152/ton FOB in Q2 2025, up from $120โ140 in Q1.
2. Phosphoric acid CFR India is now at $1,153/t PโOโ
, continuing its upward trajectory.
๐ช๐ต๐ ๐๐ต๐ฎ๐น๐น ๐๐ฒ ๐ฐ๐ฎ๐ฟ๐ฒ ๐ฎ๐ฏ๐ผ๐๐?
Jordan remains a strategic supplier of high-grade phosphate rock, particularly to India, where DAP imports continue at elevated price levels (~$738/t CFR).
As China extends CIQ inspections and the U.S. tariff landscape faces legal uncertainty, secure supply from stable origins like Jordan becomes even more critical.
These cost increases are already reflected in the global DAP/MAP market, with prices climbing across regions โ from Brazil to Southeast Asia to the EU.
For fertilizer producers and agri-commodity stakeholders, this is a clear signal:
Raw material dynamics โ especially from key producers like Jordan โ are driving global pricing, margins, and supply strategies.
Monitoring upstream inputs is no longer optional โ itโs essential for navigating the months ahead.
Nitrogen Fertilizer Association released: After study, the proposed guidance price of urea in June is the weighted average of the end of May, and the maximum price is 100 yuan based on the guidance price. See the table above for more details. For enterprises whose prices are consistently below the guideline for a long period (cumulative 30 days), they will be recorded in the Association's social responsibility file, and awards will be given at a later stage, as appropriate. Companies that sell beyond the guide price of 100 yuan are also recorded in the association's social responsibility file and will be disciplined. Encourage lengthening the pricing cycle by introducing weekly or even monthly pricing. In the event of a major change in the macroeconomic environment, the Association will examine a unified adjustment of the pricing system and, in principle, must not break the maximum price before making the adjustment.
โ
https://www.linkedin.com/pulse/technical-grade-urea-india-powering-industrial-growth-wadekar-xrhzf?utm_source=share&utm_medium=member_ios&utm_campaign=share_via
They didnโt put our name in
Please note Iraq:
Global Sulphur Market Update ๐
Stay ahead with key pricing trends and trade movements across major sulphur-producing and importing regions:
๐จ๐ณ China
China has played a stabilizing role in the market, easing recent price hikes. Iranian exports to China are ongoing, while offers from Iraq and Uzbekistan are met with limited interest due to logistical costs.
๐ฎ๐ณ India
Prices slightly up at $300-310/t CFR. A non-mainstream Russian cargo sold at $301-305/t CFR, while mainstream product hovers around $310/t CFR.
๐Middle East
Spot range remains steady at $285-290/t FOB, with recent regional tenders aligning with this range.
๐ฎ๐ท Iran
Stable at $200-240/t FOB, with crushed lump sulphur at the lower end. Recent shipments headed to China and India.
๐ฎ๐ถ Iraq
Offered jumbo bag sulphur in the $220s/t FOB, but no confirmed sales.
๐ถ๐ฆ Qatar
QatarEnergyโs latest tender attracted $280s-290/t FOB bids. Rumors suggest a possible award close to $300/t FOB.
๐ธ๐ฆ Saudi Arabia
Active exports to China with vessels Ausone and Maple Ambition departing from Jubail.
๐ฏ๐ด Jordan
JPMC awarded Q3 tender for 4 cargoes of 30,000โ40,000t based on formula pricing.
๐ Mediterranean
FOB stable at $270-285/t, CFR at $290-305/t. Recent cargoes from Libya, Saudi Arabia, Greece, and Turkey are either delivered or en route.
๐Southern Africa
Spot prices at $315-317/t CFR into Richards Bay, Dar Es Salaam, and Beira.
๐ณ๐ฆ Namibia
Swakop Uranium awarded a tender for 30,000t at ~$310/t CFR (June delivery).
๐น๐ฟ Tanzania
Small parcel offers at $380/t FCA from Dar Es Salaam warehouse.
๐ฟ๐ฆ South Africa
Negotiations ongoing for 15,000โ20,000t June delivery. Meanwhile, Transnet secures a $2.8bn government guarantee to support infrastructure.
๐North Africa
Stable at $269-284/t CFR; granular-only range at $275-284/t CFR.
๐ง๐ท Brazil
Flat at $285-295/t CFR. Galvani & Itafos awarded 30,000t in high $290s for Aratu (premium due to higher port costs). CMOC tender open for 35,000โ40,000t for July.
๐ช๐บ Western Europe
Liquid sulphur delivered to Rotterdam/Antwerp at $350-450/t, with ex-works Q2 contracts at $260-270/t. Iver Ability is en route from Corpus Christi with deliveries set for June and August.
๐Baltic: $230-240/t FOB; Russian sulphur on the low end, Kazakh on the high.
๐ Black Sea: Stable at $240-250/t FOB.
Ex-works Q2 contracts discussed at $224-250/t. Eastern Europe sees better supply than Benelux due to ongoing Russian crude exemptions, though some refineries face restrictions.
Conclusion:
Markets are generally stable with localized fluctuations. China's demand is tempering price hikes, while emerging trade routes and logistical dynamics shape regional premiums. Monitor contract activity, freight trends, and upcoming tenders for near-term direction.
โ
*Weather impact*
Rain delays in key regions.
*Prices up*
Spot market sees a $39/mt increase.
*Freight steady*
No major changes in rates.
<img src='https://images.unsplash.com/photo-1465101178521-c1a9136a3b41' alt='Demo image' style='max-width:100%;height:auto;border-radius:8px;margin-top:10px;'>
*Weather impact*
Rain delays in key regions.
*Demand surges*
Importers are seeking 28+ tons.
<img src='https://images.unsplash.com/photo-1465101178521-c1a9136a3b41' alt='Demo image' style='max-width:100%;height:auto;border-radius:8px;margin-top:10px;'>