US Gulf/Tampa:
Tampa ammonia was reported at $530/mt CFR for September, up $55/mt from August’s $475/mt CFR. The increase pushed truck offers out of Gulf Coast production points to the $480/st FOB level, up from the prior month’s $430/st FOB.
Eastern Cornbelt:
The latest ammonia offers in the Eastern Cornbelt reportedly firmed to a high of $570/st FOB on a spot basis, up $10/st from last week, with the low end of the range remaining at $545-$555/st FOB. No offers were reported at Lima, Ohio, which is undergoing a turnaround.
Western Cornbelt:
Ammonia remained at $545-$560/st FOB in the Western Cornbelt, depending on location.
California:
California ammonia prices strengthened on Sept. 1 to $705/st DEL, up $25/st from the previous posting, with aqua ammonia firming to $195-$205/st FOB from the prior $187-$197/st FOB range. The increases followed the $55/mt hike in September Tampa ammonia.
Pacific Northwest:
Ammonia prices in the Pacific Northwest were unchanged at $545/st FOB for anhydrous and $145/st FOB for aqua ammonia. No current delivered prices were confirmed in early September.
Western Canada:
Ammonia remained at C$775/mt FOB Medicine Hat, Alta., for October-November offers, with delivered fall tons in Western Canada firming to C$900-$910/mt from earlier offers in the C$875-$900/mt DEL range.
Northwest Europe:
No new spot ammonia deals were reported in Northwest Europe, as downstream nitrates demand remains muted. Stable gas prices of around $11/MMBtu, as well as higher values at Tampa, Trinidad, and in North Africa, continue to support existing price levels of $550-$560/mt CFR, however, with some sources suggesting as high as $570/mt CFR basis Algerian offers.
Southeast Asia:
No fresh spot business was reported ex-Indonesia and Malaysia, leaving ammonia prices in the region unchanged at $360-$380/mt FOB. Indonesian producers are focused domestically, with Petronas in Malaysia reportedly committed for contract deliveries.
India:
India’s spot ammonia purchasing has stalled, sources said. The tons currently coming into the country are purchased under contract. Even regular spot buyer FACT has not moved to call a tender for its usual 7,500-10,000 mt of ammonia.
The lack of spot deals leaves sources with only a sense the market’s current state. Sources said the price appears to be settling at $400-$405/mt CFR.
Middle East:
The flat Indian ammonia market is having a similar effect on suppliers in the Arab Gulf and Iran. The Arab Gulf price appears to have softened, based on limited deals into Southeast Asia and previous Indian business at $345-$350/mt FOB.
Exports from Iran totaled 424,000 mt in January-July, Trade Data Monitor reported, a 20% increase from January-July 2023. India took 381,000 mt, followed by Turkey with 22,000 mt. July 2024 exports of 70,000 mt were up significantly from the 3,000 mt shipped in July 2023.
Nailing down firm exports from Iran is often difficult, as Iranian material is sometimes sent to an intermediary country before being re-exported to a final buyer. In those cases, the export is often reported as coming from the intermediary instead of Iran.
For example, Iran reported sending 22,000 mt to Turkey during the first seven months of the year, according to Trade Data Monitor. However, Turkey recorded just 3,600 mt of Iranian material received during the same period. Oman and Bahrain are the most common countries used as intermediaries, said one source.
Turkey:
January-July ammonia imports to Turkey were pegged at 495,000 mt, according to Trade Data Monitor, down slightly from 499,000 mt in 2023. Algeria shipped 155,000 mt and Oman sent 104,000 mt. North African suppliers Algeria, Libya, and Egypt combined to supply Turkey with 40% of its total ammonia imports through the first seven months of the year.
Thailand:
January-July ammonia imports totaled 198,000 mt, Trade Data Monitor reported, a 9% decrease from the year-ago 217,000 mt. Malaysia sent 131,000 mt, followed by Australia with 31,000 mt. July imports were pegged at 31,000 mt, up 9% from the 28,000 mt received in July 2023.
Indonesia:
January-July ammonia exports totaled 1 million mt, according to Trade Data Monitor, a6% increase from the year-ago 967,000 mt. South Korea took 309,000 mt, China received 206,000 mt, and India purchased 122,000 mt. July exports were pegged at 132,000 mt, up slightly from 131,000 mt in July 2023.