US Gulf/Tampa:
The $50/mt drop in Tampa ammonia for June, to $400/mt CFR from May’s $450/mt CFR, pushed truck prices out of Gulf Coast terminals down to a low of $370/st FOB, below the prior $400-$410/st FOB range.
Eastern Cornbelt:
Ammonia terminal prices continued to drop, with reports of truck offers falling to the $550/st FOB level in the Eastern Cornbelt in early June. The upper end of the regional market was quoted at $560-$570/st FOB, depending on location and supplier.
Western Cornbelt:
Ammonia prices moved lower again, falling to $550-$570/st FOB in the Western Cornbelt, depending on location, down from last week’s $560-$580/st FOB.
Southern Plains:
Ammonia slipped to $510-$545/st FOB terminals in the Southern Plains, depending on location, with the low reported in Oklahoma and the high in Kansas. The latest truck pricing out of Gulf Coast production points dropped to the $370-$380/st FOB, down from May’s $400-$410/st FOB range.
South Central:
Prompt ammonia fell to $500/st FOB Cherokee, Ala. No truck offers were reported at El Dorado, Ark., or Midway, Tenn., in early June.
Northwest Europe:
With natural gas prices on the rise at $11/MMBtu and rising nitrates prices, there is some support for firming ammonia prices in Northwest Europe. Still, the lower Tampa settlement for June and prospects of increased Russian supply via the Taman port continue to weigh on buyers’ minds, resulting in a flat price of $460-$470/mt CFR.
Southeast Asia:
The ammonia market in Southeast Asia firmed to $350-$400/mt FOB. While no fresh spot business could be confirmed in the region this week, netbacks on contract deliveries were heard higher at around $350/mt FOB.
Turkey:
January-April ammonia imports to Turkey totaled 332,000 mt, Trade Data Monitor reported, a 22% increase from the year-ago 272,000 mt. Algeria sent 120,000 mt, Oman followed with 81,000 mt, and Trinidad and Tobago shipped 69,000 mt. April imports were 101,000 mt, up 38% from 73,000 mt in April 2023.