US Gulf/Tampa:
The downward reset for ammonia fill pricing in the Midwest in mid-June fueled expectations of a lower Tampa price for July, though nothing was announced during the week. June Tampa ammonia was settled at $400/mt CFR, down from May’s $450/mt CFR.
US Imports:
Ammonia imports firmed 2.1% in July-April, according to data compiled by the US Census Bureau, to 1.98 million st from 1.94 million st in the same period of 2022-2023. April imports were up 72.0%, to 340,241 st from the year-ago 197,816 st. Canada sent 993,159 st to the US in the July-April fertilizer year-to-date, Trinidad and Tobago shipped 865,614 st, and Saudi Arabia continued with 22,091 st.
US Exports:
April ammonia exports fell 14.0%, to 78,374 st from the year-ago 91,178 st. July-April exports moved down 19.2%, to 915,150 st from 1.13 million st in the prior year. Morocco continued as the top US export destination in July-April with 263,476 st, followed by Norway with 209,664 st. Chile took 83,115 st and Mexico purchased 79,333 st.
Eastern Cornbelt:
CF and Koch on June 20 came out with ammonia fill program offers at $410/st FOB terminals in Illinois and Indiana for July-August pull, with reports of delivered pricing in the $425-$445/st range, depending on location. Sources said CF had already pulled the program by that afternoon, however. No new prompt business was reported either before or after the offer.
Western Cornbelt:
Another round of ammonia fill programs was circulating in the region on June 20. Both Koch and CF reportedly offered tons for July-August at $390-$395/st FOB in the Western Cornbelt, with the low reported at Beatrice, Neb., and Fort Dodge, Iowa, and the high at Blair, Neb., Port Neal, Iowa, and Palmyra, Mo. Most of the offers were pulled later that same day.
Delivered fill offers for ammonia were also circulating at the $425-$435/st level in Iowa and Nebraska during the week. In the Southern Plains, July-August fill was reportedly on the table at $350/st FOB Dodge City, Kan., and $370-$375/st FOB Verdigris, Okla., and Coffeyville, Kan.
Northern Plains:
Koch on June 20 reportedly released an ammonia fill program at $420-$440/st DEL in the Northern Plains for July-August shipment. CF also released summer fill pricing on June 20 at $410/st FOB terminals in North Dakota and Minnesota. The latest prompt ammonia offers in the Northern Plains were reported at $550-$585/st DEL.
Northwest Europe:
With no new fresh business reported, stable TTF natural gas prices, and firming nitrates prices, ammonia in Northwest Europe continued to see support at the previous $460-$470/mt CFR level.
Southeast Asia:
Ammonia pricing in Southeast Asia was unchanged at $350-$400/mt FOB. No further spot business was reported but supply in the region remains tight, with most producers indicating $400/mt FOB for spot. However, a sale in the Arab Gulf at $330/mt FOB may be a harbinger of easing prices.
India:
Spot prices moved up to $397/mt CFR on recent business, sources reported. The bulk of Indian ammonia purchases stem from long-term contracts with values determined on a formula basis, leaving few opportunities to nail down spot market pricing.
Trade Data Monitor reported January-April ammonia imports at 606,000 mt in India, down about 18% from the first four months of 2023. Saudi Arabia sent 234,000 mt and Oman shipped 136,000 mt. April imports were pegged at 146,000 mt, above the 121,000 mt received in April 2023.
Middle East:
Sources reported Arab Gulf prices in the low-$300s/mt FOB. The market has been unable to match a one-off $360/mt FOB deal reported in recent weeks, traders noted. Production appears to be returning to normal in the Middle East, with plants reportedly coming back online and contract sales being fulfilled.
China:
January-May ammonia imports totaled 259,000 mt in China, Trade Data Monitor reported, an 18% decline from the year-ago 316,000 mt. Indonesia sent 163,000 mt, followed by Saudi Arabia with 39,000 mt. May imports were 53,000 mt, down 49% from 102,000 mt in May 2023.
South Korea:
January-May ammonia imports were 475,000 mt in South Korea, according to Trade Data Monitor, a marginal increasefrom the 457,000 mt received through the first five months of 2023. Saudi Arabia led suppliers with 219,000 mt, followed by Indonesia with 198,000 mt. May imports were noted at 106,000 mt, up 11% from 96,000 mt in May 2023.