Morning. Int'l paper saw Jan AG hold value at $378 y'day (in-line with Fri), in otherwise thin activity. Nola Urea paper traded Jan through Apr w/ values still largely range-bound inside $350-$360, while Dec phys came under pressure trading $348.
AG
Dec $386//$395
Jan $372//$382 – traded $378
Feb $365//$375
Q3 $370//$378
Cfr Brazil
Dec $390//$400
Jan $382//$391
Feb $377//$383
Q3 $375//$390
Egypt
Dec $420//$450
Jan $391//$420
Feb $390//$415
Nola
Phys: Dec traded $352, $348. Jan $354
Paper:
Dec $352//$354
Jan $350//$356 – traded $354
Feb $354//$358 – traded $358, 55, 56
Mar $358//$362 – traded $360
Apr $355//$360 – traded $358
May $355//$365
Jun $350//$360
Brazil Amsul
Dec $180/$198
Jan $178//$195
UAN Nola
Dec $290//$320
Jan $285//$305
Feb $280//$305
DAP Nola
Phys: Jan-Feb traded $613
Dec $625//650
Jan $607//$620
Feb $610//$625
Q1 $610//$632
MAP Brazil
Dec $620//$640
Q1 615 Buyer
The highest bid in MIS tender was $370/mt but the producer didn’t awarded so the tender scrapped.
Morning. Quiet start to the week on Int'l paper, while Nola Urea saw Dec & Jan phys barges trade $357 & $360 respectively (largely in-line w/Fri, if not slightly up), with spread activity on Dec/April paper. Mkts framed:
AG
Dec $386//$395
Jan $370//$380
Feb $365//$375
Q1 $370//$380
Cfr Brazil
Dec $390//$400
Jan $385//$393
Feb $373//$380
Q3 $375//$390
Egypt
Dec $420//$450
Jan $390//$420
Feb $390//$415
Nola
Phys: Jan traded $357, Feb $360
Paper:
Dec $350//$355 – traded $352
Jan $352//$360
Feb $357//$365
Mar $358//$365
Apr $357//$365 – traded $365
May $355//$365
Jun $350//$360
Brazil Amsul
Dec $180/$198
Jan $178//$195
UAN Nola
Dec $290//$320
Jan $285//$305
Feb $280//$305
DAP Nola
Dec $625//655
Jan $610//$630
Feb $610//$630
Q1 $610//$632
MAP Brazil
Dec $620//$640
Q1 615 Buyer
Morning. Int'l paper saw bids on Jan Brazil return Fri as values moved up into high-$380scfr, while Jan AG held in upper 370s. Nola Urea largely range-bound last week – Dec/Jan trading 350-$356, Feb/Mar at $10-$14 premium. Mkts framed Fri COB:
AG
Dec $385//$395
_[Dec traded $391s last week]_
Jan $375//$380 – traded $378s Fri
_[Jan traded 380-$376 l/w]_
Feb $365//$375
_[Feb traded $375 l/w]_
Q1 $370//$378
Cfr Brazil
Dec $390//$400
Jan $385//$392 – traded $383, 86, 88, 89 Fri
_[Jan traded $378.50-$389 range]_
Feb $372//$380
_[Feb traded $374 l/w]_
Q3 $375//$390
Egypt
Dec $420//$450
Jan $390//$420
Nola
Phys: Dec $357. Mar traded $358 Fri
Paper:
Dec $350//$355- traded $352, $353 Fri
[Dec traded $356-$350 l/w]
Jan $352//$357 – traded $355 Fri
[Jan traded $355-$350 l/w]
Feb $359//$365
[Feb traded $360l/w]
Mar $360//$365
[Mar traded $369-$360 l/w]
Apr $360//$365
[Apr traded $360-$363 l/w]
May $355//$365
Jun $350//$360
Brazil Amsul
Dec $180/$198
Jan $178//$195
UAN Nola
Dec $290//$320
Jan $285//$305
Feb $280//$305
DAP Nola
Dec $625//655
Jan $610//$625
[Jan traded $630l/w]
Feb $610//$625
[Feb traded $630l/w]
Q1 $610//$625
[Q1 traded $608, $12 l/w]
MAP Brazil
Dec $620//$640
Q1 600 Buyer
29.5% redsea price $97.5/mt
26.5% redsea price $57.5/mt
26% redsea price $55.5/mt
Urea is dead in IE, inhibitor is killing the game. Today its 600€ CPT vs 500€ urea
𝗢𝗳𝗳𝗶𝗰𝗶𝗮𝗹 𝗔𝗻𝗻𝗼𝘂𝗻𝗰𝗲𝗺𝗲𝗻𝘁: 𝗠𝗶𝘀𝗿 𝗣𝗵𝗼𝘀𝗽𝗵𝗮𝘁𝗲 𝘁𝗼 𝗔𝗱𝗷𝘂𝘀𝘁 𝗣𝗿𝗶𝗰𝗲𝘀 𝗳𝗼𝗿 𝟮𝟬𝟮𝟲
Misr Phosphate has officially announced that it will increase phosphate rock prices starting January 2026.
This shift is driven by fundamental cost-side and structural factors:
🔸 Sharp rise in energy costs: Mining and transportation expenses have increased significantly compared with last year.
🔸 Higher prices for consumables and industrial components:
🔸 Expansion of downstream projects in Egypt (phosphoric acid, DAP, TSP): These plants require secure and consistent feedstock, putting pressure on domestic supply and reducing export availability.
🔸 Misr Phosphate aims to increase ROM production to 7 million tons in 2025; expanding capacity is never cheap—capital and operational expenses inevitably translate into higher FOB prices.
The message for the global market is clear:
From 2026 onward, Egypt does not intend to export cheap phosphate rock.
That said, this adjustment may not apply equally to all grades. To remain competitive—particularly against Pakistan in low-grade rock markets in East Asia—Egypt may keep lower-grade prices relatively stable and avoid aggressive increases in those segments.
For fertilizer producers worldwide, these changes mean more expensive feedstock, tighter margins, and a greater need for risk-management strategies throughout 2026.
*Prices up*
Spot market sees a $5/mt increase.
*Prices up*
Spot market sees a $18/mt increase.
*Prices up*
Spot market sees a $11/mt increase.
*Analyst note*
Market sentiment: 16.
*Demand surges*
Importers are seeking 13+ tons.
*Policy watch*
Export policy changes expected soon.
*Policy watch*
Export policy changes expected soon.
*Policy watch*
Export policy changes expected soon.