U.S. Gulf/Tampa: Ammonia remained under pressure, with sources expecting March to be more in line with the recent spot sale of $400/mt CFR. In the meantime, sources said the most recent NOLA sale was $430-$435/st FOB.
U.S. ammonia imports were off 21 percent for December, according to the U.S. Department of Commerce, to 533,638 st from the year-ago 674,420 st. July-December imports were off 7 percent, to 3.64 million st from the year-ago 3.91 million st.
Eastern Cornbelt: Sources tagged the prompt ammonia market at $660-$675/st FOB regional terminals to the dealer, with the low reported in the Illinois market.
Field activities in the region remained limited due to wet conditions. An Illinois source acknowledged this his location has lacked the typical winter snowfall, but rainfall has been steady. He said there was some ammonia movement there in December, but most field activities have been stalled since then due to soggy conditions.
Western Cornbelt: The anhydrous ammonia market was tagged at $620-$650/st FOB regional terminals last week, with the upper end in Missouri and the low in Nebraska and Iowa. Delivered ammonia in the Missouri market was pegged in the $640-$650/st range from southern production points.
Northern Plains: Minnesota sources quoted the anhydrous ammonia market in the $620-$650/st FOB range, depending on location. Delivered ammonia in North Dakota was reported at the $750/st level for spring prepay tons.
The lack of snowfall, combined with mild temperatures, continued in the Northern Plains last week. Local reports said the southern half of Minnesota had either bare ground or just a dusting of snow by mid-February, while northern areas of the state have snow levels ranging from three to ten inches. “We are going to need some moisture,” said one Minnesota contact. “If not snow, maybe some healthy rains in March and early April.”
Great Lakes: The anhydrous ammonia market was pegged at $675/st FOB in the Wisconsin market for spring tons, with Michigan sources quoting the dealer price for prompt tons in the $680-$690/st FOB range, depending on location.
Most locations reported muddy field conditions that were too soft to support machinery, but there was some spreading activity underway in parts of southern and eastern Michigan last week. Most sources were confident that activity will heat up in late February if winter weather remains unseasonably mild in the region, and dealers were getting equipment ready in preparation for an early start to spring plant. For now, however, growers were said to be “a little sluggish” in placing orders.
Black Sea: The soft ammonia market and high natural gas prices continue to gang up on producers. OPZ remains closed, and will most likely stay closed for the rest of the month.
Sources are hard pressed to find new sales out of the area. Material moving out is under contract with pricing based on agreed-to formulas.
Australia: Once again, Orica is in a holding pattern. Asian sources say the plant is not expected to begin re-start procedures until next month. Sources add that the company may slow down production on those portions that require ammonia.
A cargo is slated to arrive this week or next. Earlier sources had predicted Orica would be looking for another cargo for early March delivery. So far, said one Asian trader, no inquiries have been made.
Middle East: The regional market remains soft, largely because of reduced demand from India and Southeast Asia.
At least one main Indian buyer is taking the month of March off for routine maintenance. Other Indian buyers and most of the Southeast Asian custom