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Argus Media reports that weak ammonia prices have lifted urea upgrading margins to their highest since 2012, averaging about US$100/t since late 2017. Several Russian producers are adding urea capacity to convert ammonia that would otherwise be sold on the open market.
Wider margins encourage new urea capacity, which over time adds supply and pressures nitrogen prices. Lower ammonia costs also support urea producers' profitability.
worldfertilizer.comJohn WilliamsJun 6, 2019Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
