US Gulf/Tampa:
Tampa ammonia remained at the May settlement of $450/mt CFR, with no indications reported for the June contract.
Eastern Cornbelt:
Ammonia prices continued to fall in the Eastern Cornbelt as demand shifts to sidedress applications. The latest offers for truck tons were reported at $575-$590/st FOB in the region, down from last week’s $590-$610/st FOB range.
Western Cornbelt:
Ammonia prices slipped to $575-$590/st FOB in the Western Cornbelt, depending on location, down from $590-$600/st FOB last week. Sources quoted the latest truck offers out of Palmyra, Mo., and Wever, Iowa, at the $580/st FOB level during the week.
Ammonia was also lower in the Southern Plains and South Central region, where recent offers were quoted as low as $510-$535/st FOB Oklahoma production points and $535/st FOB Cherokee, Ala., down from last week’s $535-$570/st FOB range in Oklahoma and $575/st FOB Cherokee.
California:
Ammonia prices in California were unchanged at $670/st DEL for anhydrous and $186-$196/st FOB for aqua ammonia in late May.
Pacific Northwest:
Ammonia pricing in the Pacific Northwest remained at $645-$650/st FOB, with the aqua ammonia market steady at the $168/st FOB level in the region.
Western Canada:
Ammonia pricing continued at C$1,130-$1,150/mt DEL in Western Canada for the latest spring offers.
Northwest Europe:
No fresh spot ammonia business was heard in the region, but Algerian values reflected around $470/mt CFR, the high end of the existing range. With natural gas prices stable around $9/MMBtu and lower new-season pricing for nitrates, the Northwest European ammonia market was unchanged at $460-$470/mt CFR.
Southeast Asia:
No further business was confirmed in Southeast Asia, but plant outages continue to support ammonia pricing, with some sources citing contract business in the mid-$300s/mt FOB. The Southeast ammonia range this week was unchanged at $330-$385/mt FOB.
India:
FACT has reportedly pulled back from the tender it closed last week after just one company, Sun International, offered tons at $316/mt CFR. At that price, Iran was the most likely source, one trader suggested.
Previous efforts by FACT to pull back on its tenders were usually part of an effort to force lower prices from offering companies. In this case, said one trader, the price seemed reasonable given the current market, so the reasoning behind FACT’s action is unclear.
First-quarter ammonia imports totaled 460,000 mt, Trade Data Monitor reported, a 26% decline from the year-ago 621,000 mt. Saudi Arabia sent 171,000 mt, Oman shipped 111,000 mt, and Indonesia added 89,000 mt. March imports were 172,000 mt, up 24% from 139,000 mt in March 2023.
China:
China often becomes an ammonia exporter when prices are high. Prices have come off this year, however, making offshore sale unprofitable for Chinese companies.
Only 17,000 mt of ammonia have been exported from China through the first four months of the year, according to Trade Data Monitor, with Vietnam taking 13,000 mt. This is down from the 131,000 mt shipped in January-April 2023. April exports were pegged at 1,700 mt, off from the 4,000 mt shipped in April 2023.
January-April ammonia imports were also down compared to the same period of 2023, with receipts noted at 206,000 mt, a 4% year-over-year decline. April imports stood at 54,000 mt, down more than half from the 109,000 mt received in April 2023.