CF · 8-K · 20260805PR091275

Geographic Market Commentary

CF Industries Holdings, Inc. · 2026-08-05 · Importance 17 · Surprise 24

CF Industries described supply disruptions from Russia and the Middle East as contributing to tight global nitrogen markets. Chinese urea exports are expected to remain constrained by strict quotas, while high energy costs are challenging European production. The company expects continued European curtailments and shutdowns because of high feedstock and maintenance costs. Producers in the Middle East and Russia face persistent geopolitical risk premiums that increase capital costs and create uncertainty around product distribution.