US Gulf/Tampa:
The Tampa ammonia price for January was concluded at $525/mt CFR, down $100/mt from December’s $625/mt contract. The settlement follows the launch of winter fill and spring prepay prices in the Cornbelt, which were down $100/st or more from the last prompt fall business.
The drop at Tampa pressured NOLA barge values to a Tampa-equivalent of $477-$478/st FOB, down from the prior $569/st FOB level.
Eastern Cornbelt:
The prior week’s ammonia fill and prepay prices from CF remained in effect, with offers out of terminals in Illinois and Indiana quoted at $600/st FOB for December-February fill tons and $650/st FOB for spring prepay. Koch was reportedly offering prepay tons at the $625/st FOB level on a spot basis in the Eastern Cornbelt.
Western Cornbelt:
Sources reported ammonia prices in Nebraska and Iowa at $600-$620/st FOB for December-February fill tons and $625-$645/st FOB for spring prepay, depending on location. The latest ammonia offers in the Northern Plains slipped to $600-$610/st FOB for fill tons and $630-$640/st FOB for spring prepay.
California:
Anhydrous ammonia was quoted at $795/st DEL in California after an upward pricing adjustment on Dec. 1, with aqua ammonia prices referenced at $217/st FOB Stockton and $227/st FOB Sycamore.
Pacific Northwest:
The last prompt ammonia prices remained at $830-$850/st FOB in the Pacific Northwest, but sources said those offers have been pulled as producers consider a reset based on recent adjustments for fill and prepay prices in other US markets.
Western Canada:
Ammonia pricing remained at the C$850/mt DEL level for December fill in Western Canada, with spring prepay offers quoted at the C$1,000/mt DEL level.
Northwest Europe:
A sale of Algerian material into Antwerp was rumored at $500/mt CFR, sources said. The price fits with the latest estimate of production costs for European ammonia plants, though some of the players involved disputed the deal’s price.
Despite the uncertainty surrounding Northwest Europe’s first reported spot deal in a long time, most sources put the market in the $500s/mt CFR.
India:
Reports of a Marubeni sale to IFFCO at $500/mt CFR continue to circulate, although neither side has confirmed the deal. Traders remain confident that this represents the market’s current price level, however. The bulk of the business in India continues to be based on long-term contracts and formula-based deals.
January-October ammonia imports totaled 1.97 million mt, Trade Data Monitor reported, a 10% increase on the year-ago 1.8 million mt. Bahrain and Oman combined to send 637,000 mt to India, up from 267,000 mt during the first 10 months of 2022, while Saudi Arabia remained the dominant supplier with 755,000 mt. October imports were 214,000 mt, down slightly from the 218,000 mt received in October 2022.
China:
Imports of ammonia in China stood at 652,000 mt in January-November, according to Trade Data Monitor, a significant increase from 216,000 mt imported during the same period of 2022. November imports were 30,000 mt, rising from 21,000 mt in November 2022.
January-November ammonia exports fell 10% year-over-year, to 181,000 mt from 200,000 mt. Exports were reported at 4,000 mt for November, off sharply from the 75,000 mt shipped last year.
Indonesia:
Indonesia sent 1.5 million mt of ammonia offshore in January-October, Trade Data Monitor reported, down 9% from the 1.6 million mt exported through the first 10 months of 2022. October exports were 174,000 mt, up marginally from 173,000 mt in October 2022.
South Korea:
Trade Data Monitor reported January-November ammonia imports in South Korea at 1 million mt, off 15% from the year-ago 1.2 million mt. Sources noted reduced ammonia demand earlier in the year, leading to the drop in imports to date. November receipts were up from November 2022, however, at 104,000 mt compared to 66,000 mt.