US Gulf/Tampa:
Tampa ammonia continued to be called $380/mt CFR for May, down from April’s $435/mt CFR. NOLA barges were assessed at $345/st FOB, the Tampa equivalent.
Eastern Cornbelt:
With preplant demand starting to wind down in the region, ammonia slipped to $550/st FOB in the Eastern Cornbelt, below the previous $575-$600/st FOB range.
Western Cornbelt:
Ammonia was unchanged at $500-$525/st FOB terminals in Nebraska and Iowa, depending on location.
California:
Anhydrous ammonia continued to be referenced at $890/st DEL in California, with aqua ammonia postings steady at $237/st FOB Stockton and $247/st FOB Sycamore.
Pacific Northwest:
Ammonia pricing out of Washington terminals remained at the $730/st FOB level for recent offers, with delivered tons pegged in the $710-$740/st range in the Pacific Northwest.
Aqua ammonia was steady at $190/st FOB in the Pacific Northwest.
Western Canada:
The latest spring ammonia offers in Western Canada were reported as low as C$700/mt FOB and C$1,040-$1,070/mt DEL, well below the previous C$850-$1,150/mt FOB and C$1,100-$1,300/mt DEL ranges.
Black Sea:
The pipeline from Russia to Odessa remains closed due to the war in Ukraine, blocking exports from the region.
Turkish buyers continue to look for ammonia. Sources said that no new deals were concluded this week, leaving a cargo of Venezuelan product as Turkey’s last-done purchase. The price – initially thought to land in the $330s/mt CFR – now appears to have concluded in the upper-$320s/mt CFR.
First-quarter ammonia imports to Turkey totaled 167,000 mt, Trade Data Monitor reported, down about 16% from the year-ago 198,000 mt. March imports were pegged at 35,000 mt, off from 67,000 mt imported in March 2022. Egypt supplied 29,000 mt.
India:
Sources said several deals were most likely concluded, but the lack of transparency in the transactions made nailing down prices difficult. The estimated price into India is now put at $300-$310/mt CFR.
Middle East:
Business was limited as Arab Gulf countries return from the late-April Eid al-Fitr holiday. Sources said the only material moving appeared to be contract tons, leaving the estimated spot price at $245-$250/mt FOB.
North Africa:
Sources reported deals out of Algeria pegged at $368/mt FOB, with the material sold into Europe. The deals pushed the Northwest Europe price into the $400s/mt CFR.
Northwest Europe:
Limited deals were made at levels that moved up the public price for the area. Sources said sales by Yara and Fertiglobe pushed the price to $400-$425/mt CFR. The transactions appeared designed to move the import price closer to the break-even cost of European producers, although an aggressive buyer might still be able to secure a cargo in the $350s/mt CFR, one trader noted.
The lack of any other public business in the area has caused industry watchers to call the price in the $400s/mt CFR.
Indonesia:
Pupuk has reportedly said it no longer has any extra tons for sale, claiming the only material it has on hand is booked under existing contracts. Some traders questioned the definitive nature of the statement, however, speculating that spot tons might still be secured for the right price. However, the price could be beyond what buyers are willing to pay at this time.
Thailand:
Trade Data Monitor put January-March ammonia imports at 96,000 mt, rising from 44,000 mt reported in first-quarter 2022. March imports stood at 31,000 mt, up 78% from 18,000 mt noted one year earlier. Malaysia sent 15,000 mt, followed by China with 14,500 mt.