U.S. Gulf/Tampa:
With European natural gas prices continuing to set new records, coupled with a growing number of ammonia cargoes reported selling in the four-digits worldwide, expectations for the January Tampa ammonia price continued to track above the $990/mt CFR December value.
Last-done on the NOLA barge market continued to track at $1,030/st FOB.
U.S. Imports:
Ammonia imports were up 18.3 percent in October, according to U.S. Census Bureau data, to 229,777 st from the year-ago 194,182 st. July-October imports were up 17.6 percent, to 856,440 st from 728,165 st one year earlier.
U.S. Exports:
Ammonia exports for October stood at 38,744 st, up 113.2 percent from the year-ago 18,175 st. July-October exports were reported at 174,379 st, however, off 34.4 percent from the prior-year 265,785 st.
Eastern Cornbelt:
Sources continued to report some spotty movement of ammonia for fall application in parts of Illinois, where terminal prices were reported at a low of $1,300/st FOB for prompt tons, $1,350/st FOB for January, and up to $1,375/st for spring prepay.
The Lima, Ohio, ammonia market was quoted at $1,375/st FOB for prompt pull in mid-December, but spring prepay offers at that location were up $25/st from last week, to $1,400/st FOB.
In the southern U.S., truck offers FOB Gulf Coast terminals had reportedly firmed to $1,000-$1,050/st FOB for prompt tons, up $50/st at the low end of the range.
Western Cornbelt:
Sources continued to report spring prepay ammonia offers at $1,365-$1,395/st FOB in the Western Cornbelt, with the lower numbers reported in Nebraska and the higher in Iowa. A few prompt offers continued to be reported in the $1,350-$1,450/st FOB range on a spot basis, with the high at Wever, Iowa.
California:
The ammonia market was pegged at $1,085/st DEL in California, reflecting a price increase that took effect on Dec. 1. The aqua ammonia market was quoted at $281/st FOB for December pricing.
Pacific Northwest:
Ammonia pricing in the Pacific Northwest was up from last report. Sources said fill program tons are reportedly on the table at $1,450/st DEL and $1,370/st FOB Washington terminals, up from the last confirmed prompt fall business at $1,170/st DEL.
The aqua ammonia market was quoted at $355/st FOB in the region, up from $285/st FOB at last report.
Western Canada:
Ammonia pricing in Western Canada was quoted in the C$2,000-$2,100/mt DEL range for spring prepay, depending on location and supplier, up from the last reported fall business at C$1,700-$1,850/mt DEL. Sources said prepay programs at the C$2,050/mt DEL level in Saskatchewan are now generally concluded.
Black Sea:
Sources said a sale from TAOZ to Turkey of 17,000 mt came in at $1,010/mt FOB at Yuzhnyy.The deal continues the price increase in the Black Sea for ammonia. Sources said spot tons are not common, even while demand remains strong. With each deal, the price is expected to go up at least for the near future.
India:
Buyers keep looking for product but are pushing back when spot prices are quoted higher than $1,000/mt CFR.
The ammonia still moving into India is from existing contracts. Sources said the price for these tons is far below the current market rate. The last bit of public business into India showed a price of $670/mt CFR, a level that is nonexistent in the current market.
Middle East:
Producers continue to argue they are sold out into mid-January. The lack of spot material keeps the price around $900/mt FOB.
Northwest Europe:
Sources said pricing expectations are now at $1,200/mt C&F. However, this past week showed a marked reduction in buying and selling interest. Without any new deals to test the market, sources said the price is holding at $1,110-$1,210/mt C&F.
The record-high cost of natural gas in Europe and the tightness of ammonia availability from all major sources is putting a steady upward pressure on prices.
Sources said Baltic shipments are moving out under contracts and price agreements at just over $1,000 mt/FOB.