U.S. Gulf/Tampa: Nothing new was reported in the Tampa or NOLA markets.
Ammonia imports were up in January, which may reflect a return by Mosaic to full phosphate production in Florida. January imports were up 25 percent, to 500,429 st from the year-ago 401,804 st, according to the U.S. Department of Commerce. July-January imports were down 1 percent, however, to 3.32 million st from 3.34 million mt.
April NYMEX natural gas closed March 12 at $2.734/mmBtu, down from March 5’s $2.841/mmBtu.
Eastern Cornbelt: The anhydrous ammonia market remained at $610-$625/st FOB Illinois terminals, depending on location. Spot pricing out of Indiana terminals was approximately $10/st higher, with the Huntington, Ind., ammonia market pegged at the $635/st FOB level.
PCS Nitrogen confirmed that its production facility at Lima, Ohio, which is undergoing a major capacity expansion, experienced mechanical problems on Feb. 25 that resulted in seven days of lost production. The Lima facility resumed normal operating rates on March 4.
Western Cornbelt: The anhydrous ammonia market remained at $575-$610/st FOB regional terminals in the Western Cornbelt, with the low reported in Nebraska and western Iowa, and the upper end in eastern Iowa and Missouri.
Delivered ammonia from southern production points was steady at $580-$615/st in the region, depending on destination.
Northern Plains: The anhydrous ammonia market was pegged at $600-$625/st FOB in the Northern Plains, with the low reported in the Twin Cities and the upper end FOB Velva and Grand Forks, N.D. Delivered ammonia was reported at the $630-$647/st level in North Dakota for limited tons, although some regional suppliers were reportedly sold out until May.
Great Lakes: The anhydrous ammonia market was quoted at $615-$635/st FOB in the Great Lakes region, with the low reported by Michigan sources FOB Courtright, Ont., and the upper end FOB Huntington, Ind. Wisconsin sources pegged the common dealer price at the $625/st FOB level.
Black Sea: Sources say prices are correcting upward after a major drop, and are now pegged at $400-$410/mt FOB after several weeks in the $390s/mt FOB.
Traders say attempts this week to secure tons under $400/mt FOB were rebuffed at every level. Sources say the driving force for the price change was not so much stepped-up demand or dramatic losses in supply, but rather buyers and sellers reaching a new equilibrium. Industry watchers say the market overshot when it dropped below $400/mt FOB, and is now trying to correct itself. What seems clear is that the sub-$400/mt FOB product is now a thing of the past.
Middle East: Problems with production at a few facilities did little to boost the price out of the region. Sources say Arab ammonia remains in the $440s/mt FOB, with a slight nod to $450/mt FOB.
Asia: Buying remains steady, offering little excitement in the market. Reports are circulating that some buyers have invoked the “minus 10 percent” clause in their contracts. Sources say, however, that just a short while ago, these same buyers were asking for a bit more in their shipments.
Industry watchers say such ups and downs are normal in a basically flat market.
The South Koreans reportedly have been pushing for lower prices, but with no luck. Sources say every attempt to get the price below $500/mt CFR has been turned back.