U.S. Gulf/Tampa: No movement was reported in the ammonia market last week.
U.S. ammonia imports were up 10 percent in April, to 564,287 st from the year-ago 515,269 st, according to the U.S. Department of Commerce.
The NYMEX natural gas price closed at $2.626/mmBtu on June 4, down from May 28’s $2.706/mmBtu.
Eastern Cornbelt: Sources described “hand-to-mouth” fertilizer sales as the season winds down, with pressure reported on most of the spot markets.
The anhydrous ammonia market was reported in a broad range in the Eastern Cornbelt last week, from a low of $595-$610/st FOB in Illinois, depending on location, to a high of $625/st FOB Huntington, Ind.
Western Cornbelt: Anhydrous ammonia remained at $570-$610/st FOB in the Western Cornbelt, with the low in Nebraska and the upper end in Missouri. No summer fill offers were confirmed in the region, though some reported “guesses” that programs might be offered at $540-$550/st FOB in Iowa on a spot basis.
Northern Plains: Sources quoted the anhydrous ammonia market at $635-$645/st DEL in North Dakota, with the upper end reflecting the reference price from Dakota Gasification. Out of regional terminals in the Northern Plains, the market was pegged at $595/st FOB the Twin Cities and $620/st FOB Velva, N.D.
Great Lakes: The anhydrous ammonia market had reportedly slipped to $595-$620/st FOB in the Great Lakes region, with the upper end quoted by Michigan sources FOB Courtright, Ont. The low end of the range was reported by Wisconsin sources out of spot Mississippi River locations.
Black Sea: Some recent buying from Turkey is getting the regional market off to a start. Sources report that Bagfas closed a deal for 6,000 mt from Trammo at an estimated netback of $380/mt FOB Yuzhnyy.
More purchases of similar sizes are expected in the next few weeks. If the Bagfas deal is an indication, sources say prices will remain stable.
Middle East: Sources report nothing has matched the $404/mt FOB paid to Sabic last month. Trammo is looking for additional tons in the area, however. Sources say Fertil may be able to help out because it has extra ammonia while it deals with some urea production issues.