US Gulf/Tampa:
Tampa prices for February continued at $790/mt CFR, down from January’s $975/mt CFR. Sources said low natural gas prices in Europe and the US are expected to continue to put pressure on ammonia prices. NOLA inventories were reported as plentiful.
Eastern Cornbelt:
Following the previous week’s major downward adjustment, the ammonia market remained at $840-$850/st FOB for spring tons in Illinois, Indiana, and Ohio. Truck pricing in the South Central region slipped to $700/st FOB Cherokee, Ala., and $675/st FOB Gulf Coast production points.
Western Cornbelt:
The reset for spring ammonia continued this week after CF and Koch dropped prices to $840-$850/st FOB in the Western Cornbelt on Feb. 8. By Feb. 14, new offers were reported at $725/st FOB Palmyra, Mo., and Wever, Iowa; $750/st FOB Hermann, Mo.; $775/st FOB Hoag, Neb.; $780/st FOB Fort Dodge, Iowa; and up to $840/st FOB spot terminals in eastern Iowa.
Ammonia prices were also under pressure in the Southern Plains, with new offers quoted at $610/st FOB Pryor, Woodward, and Enid, Okla., and $650/st FOB Verdigris, Okla.
Northern Plains:
Spring ammonia pricing dropped to $840-$850/st FOB and $850-$870/st DEL in the Northern Plains on Feb. 8-9, well below the previous $1,050-$1,100/st FOB and $1,100/st DEL levels. The low end of the FOB terminal range was reported at Velva, N.D., with other suppliers reportedly matching that level or posting slightly higher.
Eastern Canada:
The latest spring offers for ammonia in Eastern Canada were reported at roughly C$1,180-$1,185/mt FOB Courtright, Ont.
Northwest Europe:
Despite expectations of lower prices, no one is making the first move, sources said. Softer natural gas prices and an abundance of ammonia in the global market have led buyers to push for lower prices. At the same time, buyers remain hesitant to commit in case the price continues to fall.
Middle East:
Arab Gulf producers continue to push out contract tons. Sources reported no new spot deals, leaving prices in the $680s/mt FOB.