US Gulf/Tampa:
No news was reported on the Tampa ammonia price for October, but an increase is expected from September’s $390/mt CFR. The last NOLA ammonia trades were confirmed at the $500/st FOB level, while new vessel business pushed the US Gulf CFR price to $580/mt, adding fuel to expectations of a significant Tampa hike in October.
Eastern Cornbelt:
Ammonia prices continued to edge higher in the Eastern Cornbelt for limited offers, with reports of new pricing at $650-$660/st FOB in the region, where available.
Western Cornbelt:
Ammonia prices jumped to $650-$675/st FOB in the Western Cornbelt, with the high reported at Port Neal, Iowa. Many locations had withdrawn offers, however, and new sales were few. “We’re still 30 days out from fall application, and everyone positioned tons earlier in the $400s/st,” said one contact.
“Seems everyone is expecting a big fall application and sellers are cautious to sell more 4Q tonnage in a rising market,” added another source.
Southern Plains:
The latest ammonia offers out of production points in the Southern Plains were pegged at $525-$550/st FOB for limited offers, with truck pricing at Beaumont, Texas, reported at $380/st FOB. Some producers were not quoting prices in late September, however.
South Central:
Ammonia prices edged up to $380-$400/st FOB in the South Central region, with the high reported for the last business at Midway, Tenn. No current offers were reportedly on the table at El Dorado, Ark., Cherokee, Ala., or Waggaman, La.
China:
As prices have dropped in Southeast Asia largely due to reduced demand, exports from China to regional buyers have also declined. First-quarter ammonia exports of 126,000 mt fell to 8,000 mt in the second quarter, according to Trade Data Monitor. Exports are not expected to strongly increase in the third and fourth quarters.
January-August ammonia exports were reported at 153,000 mt, up from the year-ago 47,000 mt. August exports totaled 7,000 mt – all to Vietnam – against 19,000 mt shipped in August 2022.
Ammonia imports were counted at 557,000 mt in January-August, up significantly from the 175,000 mt logged through the same period of 2022. Indonesia supplied 59% of the tonnage, sending 330,000 mt. Sources attributed the increase to both lower prices in the Asian markets and stepped-up industrial demand, including from phosphate producers. August imports of 108,000 mt marked an increase from 20,000 mt received in August 2022.
South Korea:
Trade Data Monitor reported South Koreaammonia imports at 732,000 mt in January-August, a 23% decline from 947,000 mt recorded through the same period of 2022. August imports were noted at 83,000 mt, off 18% from 101,000 mt received in August 2022.