Fertilisers, energy, metals and agricultural raw materials, freight and trade policy — what moved, and what it means for cargo and counterparties. How these notes are made.
Sulfur cost pressure is idling Brazilian phosphate capacity, deepening a supply shortage as H1 deliveries drop 5.4% and growers buy early.
EuroChem plans $2.2bn investment to lift Usolskiy potash output to 5.2m t/yr by 2029, adding to global potash supply.
China's 2026 urea export quota falls to 3.3m tonnes with FOB floors of $430-440/t, tightening global nitrogen supply into Q4.
WTO data shows fertiliser and LNG shipments through the Strait of Hormuz remain near zero despite June's safe-passage agreement.
Strait of Hormuz threat premium splits crude markets, with Gulf-origin barrels trading over $40 below freely-moving grades like Brent.
Oil nears $110/bbl amid Strait of Hormuz clashes; StanChart flags a market structurally exposed to sudden spikes as Middle East tensions escalate.
Tampa ammonia CFR benchmark declines $80 to $555/t in September, down 33% from May's $825 peak, marking a fourth straight monthly fall.
China to ship 1.2m tonnes of urea to India as Beijing's expanded 5.5m tonne export quota eases global nitrogen tightness.
Sulfur prices top $1,000/t as Hormuz and Russian supply cuts remove two-thirds of traded volumes, pushing up DAP production costs.
Brazil enacts Profert law: $190m in tax credits and BNDES financing plus a domestic-content floor to grow local fertiliser production.
WTI and Brent jump as US-Iran military escalation intensifies, with both crude benchmarks up around $5 since hostilities resumed.
WTI and Brent surge over 2% after US strikes on Iranian assets near Strait of Hormuz and Iranian retaliation against US bases in Jordan.