*Nexus Weekly Update*
*21/05/26*
In the Far East and South East Asia, it has been a quieter week for the Supramaxes, although the Handysize market has remained firm. The previously active north has eased this week, with fewer NOPAC cargoes and backhaul cargoes resulting in a growing tonnage list and rates beginning to soften. Tonnage availability is increasing across the basin, particularly in South East Asia, as ballasters from the ECI look to benefit from the previously elevated rates. On the Handysize side, however, enquiry has remained steady resulting in rates plateauing, with some owners now expecting further upside should demand continue to persist.
The Indian Ocean remains very similar to previous weeks, where a lack of demand continues to persist coupled with a tight tonnage count, keeping rates inflated without much reported action. Some vessels are able to slip through the Strait of Hormuz blockade, with numbers having dropped from 250 dry vessels stuck inside down to 175. Cargo players have now set up alternative supply chains via Oman and Red Sea ports. Further South, the African market has quietened, while cargo is still being fixed it is covering at lower than last done levels. Tonnage also remains tight there, especially for prompt dates.
It has been another soft week on the Continent with sentiment continuing to weaken across the basin. Limited fresh scrap and grain enquiry has kept rates trending lower, with vessels discounting heavily in order to secure employment into the South Atlantic where returns remain more attractive. In the Mediterranean, a small amount of transatlantic cement business surfaced during the week, although not enough to improve owners sentiment. The Black Sea market also remained subdued, with only a handful of June tender stems emerging from Ukraine. Russian cargo activity stayed notably thin. Owners are showing willingness to leave the basin at discounted levels given the continued lack of momentum.
The USG market experienced a firmer week overall, supported by a number of inter-Gulf grain movements which allowed rates to edge upwards. Tonnage open in the Caribbean is increasingly favouring ballast into the USG in search of firmer employment prospects rather than accepting declining numbers in the North Coast South America market. Whilst activity levels remain moderate, sentiment appears more positive compared to recent weeks.
The ECSA market softened slightly this week on the Handysize segment following last week’s peak. This is due to the increased tonnage which has come from the Med. Larger vessel sizes however managed to maintain firmer levels. West Africa had another relatively soft week despite tonnage availability remaining comparatively low. Nevertheless, a modest increase in bauxite and manganese ore stems entered the market as falling freight levels helped narrow the gap between owners’ ideas and charterers’ expectations. Owners continue to seek premiums for India discharge despite the firmer Pacific sentiment, whilst vessels carrying sufficient bunkers to reach Singapore are also commanding stronger numbers. Current expectations are for rates to remain under pressure until first-half June dates when a larger volume of cargo is anticipated to enter the market.
Bunkers have had a very volatile week, driven by conflicting stories coming out of the Middle East and differing opinions on how close the war may be to ending. Even today, oil prices moved sharply, initially falling after Trump stated negotiations were in their final stages, before recovering again following Iran’s comments that uranium must remain in the country. Singapore peaked at around USD 900 this week before falling back to USD 830, while Fujairah has been relatively more stable, currently trading around USD 915.
China's Ammonium Sulfate export destinations.
The column headers across all tables translate as follows:
* **目的地 (Mùdìdì):** Destination
* **万吨 (Wàn dūn):** 10,000 Tons (Ten Thousand Tons)
* **占比 (Zhànbǐ):** Share / Percentage
* **合计 (Héjì):** Total
### Table 1: Top 10 Destinations for China's Ammonium Sulfate Exports in April 2026
| Destination | 10,000 Tons | Share |
|—|—|—|
| Brazil | 38 | 21% |
| Australia | 23 | 13% |
| Thailand | 20 | 11% |
| Vietnam | 13 | 7% |
| Indonesia | 12 | 7% |
| South Africa | 10 | 6% |
| Mexico | 10 | 6% |
| Turkey | 7 | 4% |
| Myanmar | 7 | 4% |
| Malaysia | 6 | 3% |
| Others | 33 | 19% |
| **Total** | **179** | **100%** |
### Table 2: Top 10 Destinations for China's Ammonium Sulfate Exports (January–April 2026)
| Destination | 10,000 Tons | Share |
|—|—|—|
| Brazil | 123 | 19% |
| Turkey | 73 | 11% |
| Australia | 46 | 7% |
| Indonesia | 45 | 7% |
| Thailand | 44 | 7% |
| Myanmar | 37 | 6% |
| India | 33 | 5% |
| Vietnam | 31 | 5% |
| Nigeria | 29 | 5% |
| South Africa | 20 | 3% |
| Others | 158 | 25% |
| **Total** | **638** | **100%** |
### Table 3: Top 10 Destinations for China's Ammonium Sulfate Exports in April 2025
| No. | Destination | 10,000 Tons | Share |
|—|—|—|—|
| 1 | Brazil | 30 | 23% |
| 2 | Australia | 10 | 8% |
| 3 | Myanmar | 9 | 7% |
| 4 | Vietnam | 7 | 6% |
| 5 | Thailand | 7 | 6% |
| 6 | India | 6 | 4% |
| 7 | South Africa | 6 | 4% |
| 8 | Mexico | 6 | 4% |
| 9 | Nigeria | 5 | 4% |
| 10 | Peru | 5 | 4% |
| 11 | Others | 38 | 30% |
| | **Total** | **128** | **100%** |
### Table 4: Top 10 Destinations for China's Ammonium Sulfate Exports (January–April 2025)
| No. | Destination | 10,000 Tons | Share |
|—|—|—|—|
| 1 | Brazil | 105 | 20% |
| 2 | Turkey | 69 | 13% |
| 3 | Vietnam | 37 | 7% |
| 4 | Australia | 32 | 6% |
| 5 | Indonesia | 30 | 6% |
| 6 | Mexico | 29 | 5% |
| 7 | India | 25 | 5% |
| 8 | Thailand | 21 | 4% |
| 9 | Malaysia | 21 | 4% |
| 10 | Myanmar | 18 | 3% |
| 11 | Others | 148 | 28% |
| | **Total** | **534** | **100%** |
Urea – June/July (delivery) CFR Durban RSA, 30kt, Granular Urea, USD 750 CFR Offered
(Russian Origin)
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<h2 data-path-to-node="0">China Morning Briefing | May 20, 2026</h2>
<h3 data-path-to-node="1">Urea</h3>
<ul data-path-to-node="2">
<li>
<p data-path-to-node="2,0,0"><b data-path-to-node="2,0,0" data-index-in-node="0">Market Status:</b> Sluggish. Most producers only covered basic daily needs yesterday.</p>
</li>
<li>
<p data-path-to-node="2,1,0"><b data-path-to-node="2,1,0" data-index-in-node="0">Outlook:</b> Short-term pressure remains due to weak supply/demand dynamics.</p>
</li>
<li>
<p data-path-to-node="2,2,0"><b data-path-to-node="2,2,0" data-index-in-node="0">Key Watch:</b> Prices are already at relatively low levels; watch for shifts in downstream purchasing sentiment and upcoming policy guidance.</p>
</li>
</ul>
<h3 data-path-to-node="3">Synthetic Ammonia</h3>
<ul data-path-to-node="4">
<li>
<p data-path-to-node="4,0,0"><b data-path-to-node="4,0,0" data-index-in-node="0">Market Status:</b> Generally stable, with minor rebounds in key production hubs.</p>
</li>
<li>
<p data-path-to-node="4,1,0"><b data-path-to-node="4,1,0" data-index-in-node="0">Dynamics:</b> Following recent steep price drops, producers are holding the line on pricing. Downstream buyers are showing increased interest at these lower entry points.</p>
</li>
<li>
<p data-path-to-node="4,2,0"><b data-path-to-node="4,2,0" data-index-in-node="0">Supply Note:</b> An unexpected facility breakdown in Hubei has reduced supply expectations.</p>
</li>
<li>
<p data-path-to-node="4,3,0"><b data-path-to-node="4,3,0" data-index-in-node="0">Outlook:</b> Improved negotiation atmosphere and higher inquiry volumes suggest prices are ready to stabilize.</p>
</li>
</ul>
<h3 data-path-to-node="5">Ammonium Chloride</h3>
<ul data-path-to-node="6">
<li>
<p data-path-to-node="6,0,0"><b data-path-to-node="6,0,0" data-index-in-node="0">Market Status:</b> Weak. Downstream compound fertilizer plants are facing poor sales and widespread shutdowns.</p>
</li>
<li>
<p data-path-to-node="6,1,0"><b data-path-to-node="6,1,0" data-index-in-node="0">Dynamics:</b> Inquiry volumes are low, forcing producers to scale back planned dispatches. Recent promotional discounts have failed to spark buyer enthusiasm.</p>
</li>
<li>
<p data-path-to-node="6,2,0"><b data-path-to-node="6,2,0" data-index-in-node="0">Outlook:</b> Short-term demand remains stagnant; expect continued market weakness.</p>
</li>
</ul>
<h3 data-path-to-node="7">Ammonium Sulfate</h3>
<ul data-path-to-node="8">
<li>
<p data-path-to-node="8,0,0"><b data-path-to-node="8,0,0" data-index-in-node="0">Market Status:</b> Declining. Anticipated policy news has yet to materialize, stalling trader confidence.</p>
</li>
<li>
<p data-path-to-node="8,1,0"><b data-path-to-node="8,1,0" data-index-in-node="0">Dynamics:</b> Domestic raw material supplies are abundant, while end-user inquiries remain highly limited.</p>
</li>
<li>
<p data-path-to-node="8,2,0"><b data-path-to-node="8,2,0" data-index-in-node="0">Outlook:</b> Market sentiment is pessimistic; the downward trend is expected to persist near-term.</p>
</li>
</ul>
<h3 data-path-to-node="9">Phosphate Fertilizer</h3>
<ul data-path-to-node="10">
<li>
<p data-path-to-node="10,0,0"><b data-path-to-node="10,0,0" data-index-in-node="0">Monoammonium Phosphate (MAP):</b></p>
<ul data-path-to-node="10,0,1">
<li>
<p data-path-to-node="10,0,1,0,0"><b data-path-to-node="10,0,1,0,0" data-index-in-node="0">Status:</b> Lackluster performance with flat pricing. The benchmark price for 55% powder in Hubei holds at <b data-path-to-node="10,0,1,0,0" data-index-in-node="103">4,250 yuan/ton</b> (with slight room for negotiation).</p>
</li>
<li>
<p data-path-to-node="10,0,1,1,0"><b data-path-to-node="10,0,1,1,0" data-index-in-node="0">Drivers:</b> High raw material costs and ongoing sulfur policy impacts are keeping the floor firm, but a broader demand slowdown is limiting new orders.</p>
</li>
<li>
<p data-path-to-node="10,0,1,2,0"><b data-path-to-node="10,0,1,2,0" data-index-in-node="0">Outlook:</b> Short-term consolidation and observation.</p>
</li>
</ul>
</li>
<li>
<p data-path-to-node="10,1,0"><b data-path-to-node="10,1,0" data-index-in-node="0">Diammonium Phosphate (DAP):</b></p>
<ul data-path-to-node="10,1,1">
<li>
<p data-path-to-node="10,1,1,0,0"><b data-path-to-node="10,1,1,0,0" data-index-in-node="0">Status:</b> Stable but highly cautious. General demand is thin with only small-volume orders trickling in.</p>
</li>
<li>
<p data-path-to-node="10,1,1,1,0"><b data-path-to-node="10,1,1,1,0" data-index-in-node="0">Outlook:</b> The overall trading atmosphere remains subdued. Expect continued sideways fluctuation in the short term.</p>
</li>
</ul>
</li>
</ul>
<h3 data-path-to-node="11">Potash Fertilizer</h3>
<ul data-path-to-node="12">
<li>
<p data-path-to-node="12,0,0"><b data-path-to-node="12,0,0" data-index-in-node="0">Market Status:</b> Subdued. Available spot supply is tight.</p>
</li>
<li>
<p data-path-to-node="12,1,0"><b data-path-to-node="12,1,0" data-index-in-node="0">Dynamics:</b> Traders are making inquiries, but actual deal conversion remains slow.</p>
</li>
<li>
<p data-path-to-node="12,2,0"><b data-path-to-node="12,2,0" data-index-in-node="0">Pricing:</b> Import 62% white potash is currently hovering between <b data-path-to-node="12,2,0" data-index-in-node="63">3,150 – 3,530 yuan/ton</b>. Domestic sulfate of potash (SOP) remains stable with unchanged factory pricing.</p>
</li>
</ul>
<h3 data-path-to-node="13">Compound Fertilizers</h3>
<ul data-path-to-node="14">
<li>
<p data-path-to-node="14,0,0"><b data-path-to-node="14,0,0" data-index-in-node="0">Market Status:</b> Experiencing narrow-range fluctuations with price drops in several major production hubs.</p>
</li>
<li>
<p data-path-to-node="14,1,0"><b data-path-to-node="14,1,0" data-index-in-node="0">Drivers:</b> Softening raw material costs have dragged down production expenses, while summer replenishment demand has been disappointingly weak, leaving distributors hesitant to restock.</p>
</li>
<li>
<p data-path-to-node="14,2,0"><b data-path-to-node="14,2,0" data-index-in-node="0">Outlook:</b> The market is facing downward pressure and is expected to stay weak in the short term.</p>
</li>
</ul>
</div>
Total inventory of Chinese urea enterprises stands at 776,500 tonnes, representing an increase of 205,000 tonnes compared to the previous week, a week-on-week surge of 35.87%.
During this weekly period, domestic urea enterprise inventories rose significantly, with enterprises in most domestic regions primarily experiencing inventory growth.
Recent continuous declines in domestic urea prices, weakening demand.
A "buy when prices rise, hold back when prices fall" mindset among downstream buyers.
Consequently, shipments from urea factories have slowed down noticeably, leading to varying degrees of inventory buildup for most enterprises.
<img class="alignnone size-medium wp-image-11379" src="https://www.staging.aquifert.com/wp-content/uploads/2026/05/PHOTO-2026-05-20-09-25-01-300×171.jpg" alt="" width="300" height="171" />
Rumours are starting to circle around the next India urea import tender. we will likely hear something next week
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<h3 data-path-to-node="0">China Morning Briefing 2026-05-19</h3>
<p data-path-to-node="1">Regarding urea, although the recent decline in prices across major regions has been faster than expected, market transactions showed no significant improvement as of yesterday. Furthermore, upcoming rainy weather is expected to disrupt some essential needs and transportation in the short term, ensuring the market remains weak. While lower prices may stabilize temporarily, the majority of prices are expected to continue dropping.</p>
<p data-path-to-node="2">Regarding synthetic ammonia, the market in main production regions remained stable but experienced a slight decline from Saturday through yesterday, with the drop being more pronounced in the Hubei region. Because prices have continued to fall recently and certain enterprises have incurred losses, ammonia producers are strongly motivated to maintain prices. This has created a sense of bottom-buying among downstream entities, which has improved the market atmosphere somewhat. The market is expected to fluctuate within a relatively narrow range in the short term, though some high-level prices may still experience further declines.</p>
<p data-path-to-node="3">Regarding ammonium chloride, the domestic market was stable over the past day. New orders received by producers were limited and pending shipments decreased. However, the trading atmosphere has improved due to recent maintenance at multiple facilities and the approaching summer season for compound fertilizer application. Ammonium chloride producers remain strongly inclined to maintain prices. Short-term supply and demand dynamics remain relatively balanced, and the price of ammonium chloride is likely to remain stable for the time being.</p>
<p data-path-to-node="4">Regarding Amsul, the market was weak and stable yesterday. Due to high inventory levels of raw materials at downstream facilities and limited transportation resulting from recent rainfall, raw material suppliers still face pressure in terms of sales. The market for Amsul is expected to continue its decline in the short term, making it necessary to monitor bidding activities throughout the week.</p>
<p data-path-to-node="5">Regarding phosphate fertilizer, the domestic market for MAP remained stable and cautious yesterday. Factories in Hubei offered a price of CNY 4250 per metric ton for 55 percent powder, subject to actual negotiations. Producers have continued to suspend order intake and price setting, while market sentiment remains heavily influenced by sulfur policies. Demand is relatively weak with limited actual transactions, and the market is expected to maintain its current state in the short term.</p>
<p data-path-to-node="6">The domestic DAP market also remained cautious yesterday. Companies were generally waiting for the arrival of affordable sulfur resources, demand was limited, and new orders were scarce. Various market participants adopted a wait-and-see stance, which created a somewhat tense trading atmosphere. The market is expected to continue its current state of consolidation in the short term.</p>
<p data-path-to-node="7">In international phosphate fertilizer developments, it has been reported that India signed a major contract for shipments in 2026 at a contract price of USD 383 per metric ton CFR. This represents a USD 34 per metric ton increase compared to the price of the previous major contract in 2025. Currently, the response from China has been relatively subdued, largely because the pricing aligns with industry expectations.</p>
<p data-path-to-node="8">Regarding composite fertilizers, weather conditions and relatively sluggish demand from downstream industries have caused market inventory replenishment to slow down. Quoted prices from companies have largely remained stable. However, given that seasonal demand will gradually decrease in the first half of the year and nitrogen fertilizers are experiencing a weaker adjustment trend, some actual transactions have shown relative flexibility. Conversely, the continued strength of phosphorus and potassium raw materials has limited market volatility. The short-term composite fertilizer market is expected to maintain a stable but somewhat weaker consolidation trend.</p>
</div>
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<p data-path-to-node="1">The Self-Disciplined Enterprises Meeting was held in Nanjing, resulting in the joint issuance of the following initiative.</p>
<p data-path-to-node="2">First, upcoming adjustments to Chinese export policies are expected to simultaneously reduce overall export supply volumes and the number of qualified suppliers. Consequently, all Self-Disciplined Enterprises are advised to adopt a strategy of sales restraint and price stabilization during this interim period. Prior to the official implementation of these policies, the FOB floor price for standard granular ammonium sulfate must be maintained at a minimum of USD 300 per metric ton.</p>
<p data-path-to-node="3">Second, all industry peers are urged to practice self-regulation and engage in joint supervision. Any actions that violate this initiative, including undercutting prices to secure orders and disrupting market order, will be reported and submitted to the competent industry authority. These infractions will serve as evaluation criteria for assessing non-compliant enterprises. It is recommended that non-compliant enterprises be removed from the export white list and have their relevant export qualifications suspended in accordance with regulatory frameworks.</p>
</div>
<p data-path-to-node="2,0"><b data-path-to-node="2,0" data-index-in-node="0">India’s IPL Counters at USD850/t CFR in Latest Ammonia Tender</b></p>
<p data-path-to-node="2,1">Indian fertilizer importer IPL has countered at USD850 CFR for both the east and west coasts in its 18 May ammonia tender. The counterbids remain valid until 17:00 IST (12:30 BST) today.</p>
<p data-path-to-node="2,2">The tender, which originally sought 521kt for June – August delivery, drew total offers of 239kt tonnes. The lowest submission came from trader Agrifields at USD 890 CFR for a 15kt East Coast delivery. Altogether, suppliers offered 138kt for the east coast and 101kt for the west coast.</p>
<strong>India vs Pakistan | DAP Procurement Divergence | May 2026</strong>
India just covered over 1.3 million tonnes of DAP in the latest IPL tender at roughly USD 930-935/t CFR. Pakistan, meanwhile, barely imported in April and entered May with around 203,000t of stocks, down month on month. Same market, completely different playbook.
India bought aggressively, covered beyond immediate needs, and chose availability over price. Pakistan waited, held back, and is now watching inventories slide. The contrast is stark.
The market read it instantly. When the world's largest DAP importer is willing to pay USD 930-935/t CFR for over a million tonnes, the debate about whether prices are "too high" is over. The new question is whether product will still be available when you need it.
This is a market splitting into two camps. Buyers who secured supply early, and buyers who are hoping prices soften later. In tight fertiliser markets, the second group historically ends up paying more. Sometimes significantly more.
India's tender may well be remembered not as a price signal but as a fear-of-shortage signal. The most prepared buyer is now setting the tone, not the cheapest one. That is a meaningful shift in market psychology, and it has implications well beyond DAP.
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<h3 data-path-to-node="0">Drone Strike Sparks Fire at Russian Gas Plant Crucial for Global Sulfur Supply</h3>
<p data-path-to-node="1">An attack on a strategic facility in Astrakhan threatens up to 3.5 million tons of annual sulfur capacity, sending shockwaves through the global fertilizer supply chain.</p>
<hr data-path-to-node="2" />
<h3 data-path-to-node="3">Modi Targets 50% Overuse, Urging Reduction in Chemical Fertilizers</h3>
<p data-path-to-node="4">India’s Prime Minister has called for an immediate correction in excessive application rates, though entrenched government subsidies for urea and phosphate remain a major hurdle to adoption.</p>
<hr data-path-to-node="5" />
<h3 data-path-to-node="6">US Steps In, Pressuring Lithuania to Open Baltic Port for Belarus Potash</h3>
<p data-path-to-node="7">Diplomatic efforts are underway to clear a strategic shipping corridor in the Baltic Sea, aiming to restart the outflow of blockaded Belarusian agricultural inputs.</p>
<hr data-path-to-node="8" />
<h3 data-path-to-node="9">Moroccan Phosphate Exports Rise Despite Ongoing Logistics Hurdles</h3>
<p data-path-to-node="10">Strong global demand drove a 4% jump in granulated phosphates and a 6% increase in rock exports during the first quarter of 2026, defying transport bottlenecks.</p>
<hr data-path-to-node="11" />
<h3 data-path-to-node="12">Sanctions and Iran Links Halt Massive Urea Shipment Bound for India</h3>
<p data-path-to-node="13">A bulk carrier serving a major 2.5 million-ton tender had its cargo canceled after showing suspicious tracking anomalies and transponder blanks in the Middle East.</p>
<hr data-path-to-node="14" />
<h3 data-path-to-node="15">Canada's 2026 Ammonia Exports Jump 17% in Exclusive Push to US Market</h3>
<p data-path-to-node="16">Volumes have surpassed 316,000 tons, cementing tight logistical integration and securing vital agricultural supply chains across North America.</p>
<hr data-path-to-node="17" />
<h3 data-path-to-node="18">Odesa Fertilizer Infrastructure Hit by Massive Russian Drone Wave</h3>
<p data-path-to-node="19">Strikes targeting Ukrainian ports triggered heavy fires at local urea warehouses and ammonia storage tanks, despite air defenses reporting the downing of 111 drones.</p>
<hr data-path-to-node="20" />
<h3 data-path-to-node="21">Top Palm Oil Producers Cut First-Quarter KCl Imports by Up to 37%</h3>
<p data-path-to-node="22">A sharp drop in potassium chloride procurement by agricultural giants Indonesia and Malaysia raises warning signs for the world's primary tropical commodity hub.</p>
<hr data-path-to-node="23" />
<h3 data-path-to-node="24">Jordan Secures $1B Deal for New Aqaba Green Ammonia Export Hub</h3>
<p data-path-to-node="25">The massive solar-powered facility aims to supply 100,000 tons of clean-energy agricultural inputs annually to key European and Asian markets.</p>
<hr data-path-to-node="26" />
<h3 data-path-to-node="27">Kazakhstan's Back-to-Back Sulfur Drop Tightens Phosphate Supply Lines</h3>
<p data-path-to-node="28">A 16.5% export contraction in March marks the second consecutive month of decline for the major global supplier, keeping the international industry on high alert.</p>
<hr data-path-to-node="29" />
<h3 data-path-to-node="30">Middle East Strain Threatens to Inflate India's Fertilizer Subsidy Bill by $1.6B Monthly</h3>
<p data-path-to-node="31">New Delhi is evaluating massive monthly spending hikes to insulate domestic markets from skyrocketing logistical costs tied to regional maritime bottlenecks.</p>
<hr data-path-to-node="32" />
<h3 data-path-to-node="33">Brazil Eyes Kazakhstan Chemical and Logistics Deals to Drive BRICS Agenda</h3>
<p data-path-to-node="34">Bilateral talks in Astana look to secure stable fertilizer inputs and expand aviation ties, cementing closer cooperation within the expanding economic bloc.</p>
<hr data-path-to-node="35" />
<h3 data-path-to-node="36">Australia Drops Fresh Cash to Secure 90,000 Tons of Strategic Urea</h3>
<p data-path-to-node="37">Canberra has funded immediate emergency shipments to protect against extreme market volatility, following a massive 86% spike in March imports.</p>
<hr data-path-to-node="38" />
<h3 data-path-to-node="39">Egypt Halts Raw Material Exports to Prioritize Local Phosphate Refining</h3>
<p data-path-to-node="40">Cairo is accelerating plans to shift toward a high-value industrial model, keeping raw rock at home to manufacture advanced compound fertilizers and phosphoric acid.</p>
<hr data-path-to-node="41" />
<h3 data-path-to-node="42">Nigeria's Natural Gas Shipments Surge 31%, Feeding Nitrogen Fertilizer Demand</h3>
<p data-path-to-node="43">A strong first-quarter export boost reinforces the global supply chain with critical raw materials needed for international nitrogen manufacturing.</p>
<hr data-path-to-node="44" />
<h3 data-path-to-node="45">Iran Conflict Sparks Warning of Fresh Fertilizer Price Crisis in Europe</h3>
<p data-path-to-node="46">Escalating Middle East tensions are driving up nitrogen input costs, squeezing margins for European producers and fueling renewed food inflation risks.</p>
<hr data-path-to-node="47" />
<h3 data-path-to-node="48">Chile's Sulfuric Acid Inflows Fall 15% Over First Four Months of 2026</h3>
<p data-path-to-node="49">Imported volumes dropped to just under one million tons, creating potential operational headwinds for the nation's vital copper extraction industry.</p>
</div>
China:
inventory of urea companies stood at 800,900 tons, an increase of 178,600 tons from the previous Thursday and 255,800 tons from the previous Monday.
China Market analysis for today.
The prices in the main regions have continued to decline since the weekend. Currently, the reference price for factory sales is around RMB 1730-1760. On one hand, sentiment has not yet stabilized significantly. On the other hand, continuous rainfall is affecting domestic demand. As a result, the market prices can only continue to drop, and after a temporary price reduction, there is a stalemate waiting to be resolved.
𝗗𝗮𝗺𝗶𝗲𝘁𝘁𝗮 𝗣𝗼𝗿𝘁 𝗛𝗮𝗻𝗱𝗹𝗲𝘀 𝟭𝟬𝟮 𝗩𝗲𝘀𝘀𝗲𝗹𝘀 𝗮𝗻𝗱 𝟮.𝟱 𝗠𝗶𝗹𝗹𝗶𝗼𝗻 𝗧𝗼𝗻𝘀 𝗼𝗳 𝗗𝗿𝘆 𝗯𝘂𝗹𝗸 𝗶𝗻 𝗔𝗽𝗿𝗶𝗹
Damietta Port -as one of the Mediterranean’s notable loading gateways for phosphate rock and phosphate fertilizers serving Europe, the Americas, and broader international markets- may be sending an important logistics signal about Egypt’s expanding role in bulk commodities and fertilizer trade.
April 2026 performance was more than a shipping milestone.
Total cargo throughput rose 46% YoY to 4.75 million tons, but the more strategic story lies in cargo composition:
• Dry bulk volumes jumped 73% to 2.5 million tons (102 Vessels)
• Liquid bulk surged 179%
• Containerized cargo increased 44%
• Conventional cargo fell 46%
This operational shift matters.
For phosphate rock, phosphatic fertilizers, sulphur, ammonia, grains, and industrial feedstocks, stronger dry and liquid bulk activity can reflect growing logistical capacity for strategic raw materials and export-oriented commodity chains.
While the published data does not break down cargo by product category, infrastructure and cargo-mix changes often provide early signals of where supply chains are strengthening before commodity-specific trade statistics fully emerge.
𝗔 𝘀𝘁𝗿𝗼𝗻𝗴𝗲𝗿 𝗗𝗮𝗺𝗶𝗲𝘁𝘁𝗮 𝗰𝗼𝘂𝗹𝗱 𝗺𝗲𝗮𝗻:
• Greater loading and throughput flexibility for phosphate and fertilizer-linked cargoes
• Enhanced export competitiveness toward Europe, the Americas, and regional markets
• Improved positioning in East Mediterranean bulk trade corridors
• More resilient infrastructure supporting Egypt’s industrial, agricultural, and commodity supply chains
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<p data-path-to-node="0">Sulphur Market:
The key price benchmarks for the sulphur market are USD 925 for CFR China and USD 753 for FOB Middle East.</p>
<p data-path-to-node="1">The global sulphur market remains highly constrained, causing spot activity to decelerate as buyers pull back in response to steep pricing and limited availability. Market participants are increasingly pivoting their focus towards third-quarter expectations, carefully weighing the high cost of locking in supply against the risk of having to lower factory operating rates. Anxieties regarding demand destruction are mounting, particularly in the fertiliser sector and other price-sensitive industries.</p>
<p data-path-to-node="2">In China, domestic spot trading was quiet with no major transactions finalised, though underlying prices continued to firm up. General market indications for ex-works pricing hovered between CNY 7,320 and CNY 7,350 per tonne. Meanwhile, Sinopec implemented further price hikes at its major production hubs, pushing Wanzhou to CNY 7,400 per tonne and Dazhou to CNY 7,280 per tonne. Despite strong pricing, port stocks continued to draw down, falling to approximately 1.18 million tonnes and intensifying worries over near-term supply shortages.</p>
<p data-path-to-node="3">In Turkey, the refiner Tupras officially opened its domestic sulphur sales tender today, with the bidding window set to close on 20 May. Regional players are monitoring this development closely as buyers actively search for accessible, non-Gulf supply alternatives in an increasingly restricted market.</p>
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