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The month in figures · September 2026
None of the three market indicators that matter most to wastewater treatment moved far in September. Phosphate rock held at $170 per tonne for a third month, urea rose 4.5% to $407.5/t and aluminium gained 1% to $3,283/t (World Bank, 2026a). The calm is relative. Urea nearly doubled in the spring, aluminium is 23.7% more expensive than a year ago, and the month's biggest move came in energy, which shapes both the running costs of treatment plants and the cost of making fertiliser.
Market indicators for the wastewater sector, September 2026
Monthly average prices and changes
| Commodity | Unit | Price | Month on month | Year on year |
|---|---|---|---|---|
| Phosphate rock | $/t | 170.0 | 0.0% | +11.5% |
| Urea | $/t | 407.5 | +4.5% | −11.6% |
| Aluminium | $/t | 3,283 | +1.0% | +23.7% |
| DAP fertiliser | $/t | 800.6 | +0.9% | +2.6% |
| Natural gas (TTF) | $/MMBtu | 25.42 | +20.4% | +128.6% |
Source: World Bank (Pink Sheet, October 2026)
Urea has been the fertiliser market's most sensitive gauge of the war in the Middle East. It averaged $472/t in February, $725.6/t in March and $856.9/t in April. The World Bank's April Commodity Markets Outlook (World Bank, 2026c) put the March surge down to a near halt in exports from the region after the closure of the Strait of Hormuz; in 2024 the Middle East supplied almost a quarter of global urea exports. Iran stopped producing ammonia, and Qatar suspended urea, ammonia and sulphur production after damage to its facilities.
The unwinding was fast. According to the World Bank's July Global Monthly (World Bank, 2026d), urea prices fell 41% in June, back to pre-conflict levels, before turning up again in July as energy prices rose. The monthly averages did not yet show that rebound: urea averaged $400/t in July and $390/t in August. September brought a rise, but at $407.5/t the price is still more than 52% below the April peak and 11.6% lower than a year ago.
