US Gulf/Tampa:
No indications were reported for the Tampa ammonia price for September, though European natural gas prices have soared to their highest level this year and the latest fall pricing offers in the Cornbelt have edged up to $520-$550/st FOB, depending on location.
Eastern Cornbelt:
Ammonia in the Eastern Cornbelt remained at $520-$550/st FOB for prompt or fall prepay tons, with the high confirmed in northern Illinois. No current prices were available at Lima, Ohio.
Western Cornbelt:
Ammonia prompt and fall prepay offers edged up to $520-$550/st FOB in the Western Cornbelt, with both the high and low reported in Nebraska during the week, depending on location. Most Iowa terminals remained firmly at the $525/st FOB level, with the Palmyra, Mo., market quoted at $520/st FOB in early August.
Southern Plains:
The ammonia market was quoted at $490/st FOB Oklahoma terminals and $500/st FOB in Kansas for prompt or fall prepay. Truck pricing out of Gulf Coast production points was pegged at the $430/st level following the August Tampa ammonia contract.
South Central:
No ammonia offers were reportedly on the table for truck tons from El Dorado, Ark., Midway, Tenn., or Cherokee, Ala., in early August.
Northwest Europe:
No further spot business was reported in the region this week, leaving the regional market unchanged at $510-$550/mt CFR.
Natural gas prices in Europe have strengthened to just shy of $12/MMBtu, however, fueled by residential cooling demand and concerns around the Russian gas pipeline following Ukraine’s incursions across the border. Higher FOB price ideas in North Africa also appear to support existing price levels.
India:
The ammonia market is awaiting the results of the 15,000 mt FACT tender that closed on Aug. 5. Sources said three offers were made in the tender. So far, no prices have been released.
Middle East:
Ammonia discussions are now focused in the $350s/mt FOB, sources said, though no spot business was reported. Product is reportedly tight, but loosening as production ramps up.
Indonesia:
Indonesia exported 896,000 mt of ammonia in January-June, Trade Data Monitor reported, up 7% from the 836,000 mt shipped through the first half of 2023. South Korea took 275,000 mt, followed by China with 175,000 mt.
June exports were 148,000 mt, up 8% from 137,000 mt in June 2023, while second-quarter exports of 442,000 mt were off 4% from 459,000 mt in April-June 2023.
Brazil:
Brazil exports ammonia when it has an excess of product or when the price is advantageous. Trade Data Monitor put January-July exports at just 120 mt, down from the year-ago 48,000 mt, with all of the tons going to Uruguay. July exports were 40 mt against 15,000 mt in July 2023.
January-July ammonia imports were noted at 230,000 mt, a 30% increase from the 190,000 mt received during the first seven months of 2023. July imports were 45,000 mt, up significantly from 19,000 mt in July 2023.