US Gulf/Tampa:
The August increase in Tampa ammonia, to $475/mt CFR from July’s $415/mt, pushed truck pricing up to $430/st FOB out of Gulf Coast production points, above the prior $380-$400/st FOB range.
Eastern Cornbelt:
Ammonia prices edged up slightly in the Eastern Cornbelt, to $520-$550/st FOB from the prior $510-$520/st FOB range, with the high reported on a spot basis in Illinois. Most regional terminals were quoted solidly at the $520/st FOB level for fall prepay or prompt offers in early August.
Western Cornbelt:
Ammonia prepay and prompt pricing remained at $520/st FOB in Nebraska and Missouri and $525/st FOB in Iowa during the week. In the Southern Plains, the latest pricing out of Oklahoma and Kansas production points was quoted at $490-$500/st FOB.
Northern Plains:
Fall prepay offers for ammonia were quoted in the $515-$540/st FOB range in the Northern Plains, with the low confirmed at Velva, N.D. Delivered ammonia remained at $530-$550/st in the region, depending on location and supplier.
Northwest Europe:
Several offshore deliveries into Europe took place over the past week and a half, with little price information forthcoming. Given the higher Tampa settlement, gas-related production issues in Trinidad, and stable natural gas prices in Europe, the fundamentals are supportive of ammonia pricing in the region.
News emerged late in the week, however, of a purchase ex-Turkey for delivery into Northwest Europe, with the price reflecting around $550/mt CFR. As a result, the ammonia range in Northwest Europe moved up to $510-$550/mt CFR.
India:
A FACT tender seeking 15,000 mt of ammonia with an arrival deadline of Sept. 10-15 to the Port of Kochi, on India’s West Coast, is scheduled to close on Aug. 5.
The Kochi facility’s limited storage means that only 8,000 mt of product can be unloaded at one time. The tender documents noted that if the full 15,000 mt is shipped in one vessel, that ship will have to wait for the storage tanks to empty before discharging the rest of the cargo. The rate of discharge was put at 600 mt/d.
The last FACT tender was covered by Iranian product. Given the current lack of ammonia available from the Arab Gulf and Southeast Asia, Iranian ammonia will likely supply the current tender as well.
Black Sea:
January-June ammonia imports to Turkey were counted at 432,000 mt, Trade Data Monitor reported, nearly even from the 434,000 mt reported during the same period of 2023. Algeria, Egypt, and Libya combined to supply 180,000 mt, about 41% of the total. Algeria shipped 155,000 mt.
June imports were 34,000 mt, a 12% decline from 39,000 mt in June 2023. Second-quarter imports of 201,000 mt were down from the 236,000 mt recorded in April-June 2023.
Thailand:
Ammonia shipped to Thailand fell 11% year-over year in January-June, according to Trade Data Monitor, to 167,000 mt from 189,000 mt. Malaysia led suppliers with 102,000 mt, followed by Australia with 31,000 mt.
Thailand received 20,000 mt in June, off 51% from the 41,000 mt taken one year earlier. April-June imports were shown at 79,000 mt, down 15% from the 92,000 mt received in second-quarter 2023.