U.S. Gulf/Tampa:
August Tampa ammonia prices continued at $625/mt CFR.
Eastern Cornbelt:
Ammonia prices were quoted in the $645-$670/st range FOB Eastern Cornbelt terminals for prompt or fall prepay, with the low reported at Lima, Ohio, and the high out of Indiana terminals. Most Illinois terminals remained at the $665/st FOB level for fall prepay offers.
Western Cornbelt:
Ammonia pricing remained at $645-$665/st FOB for prompt or prepay in the Western Cornbelt, depending on location and supplier. CF was reportedly referenced at the high end of the range at Palmyra, Mo., and in Iowa and Nebraska.
California:
Anhydrous ammonia was unchanged at $626/st DEL in California, with aqua ammonia referenced at $172/st FOB. An increase is planned for Sept. 1, however, with anhydrous moving on that date to $710/st DEL and aqua firming to $187/st FOB port terminals and $197/st FOB inland.
Pacific Northwest:
Ammonia prices were higher in the Pacific Northwest. Sources quoted the market at $695/st FOB regional terminals and $730-$760/st DEL, depending on location, up from the last reported $635/st FOB and $675/st DEL levels.
Aqua prices have also firmed in the region, to $177/st FOB from the earlier $168/st FOB.
Western Canada:
Ammonia pricing in Western Canada was quoted at C$990-$1,045/mt DEL for fall tons, depending on location, up another C$25-$30/mt from last report.
Nutrien’s Redwater, Alta., nitrogen facility began a planned maintenance outage in late July at its larger ammonia and urea plants. The project is slated to be completed in early October.
Black Sea:
Sources said Ma’aden is in talks with Ostchem for late-August or early September ammonia shipments. The move fits in with reports that Ma’aden remains in a difficult position filling its own contracts.
No new deals were reported this week. However, sources repeated information from last week that talks are taking place for shipments later in the month and into September.
Middle East:
The lack of any loose tons in the area has shut down the spot market, leaving no change in official pricing.
As the week closed, rumors began to circulate that Ma’aden was back online Aug. 12. However, sources said the most likely scenario is that the troubled facility might be beginning test runs to see if it could sustain production. The company has been saying for the past few weeks that it intends to have the plant running this month.
India:
Buyers are at the point where they need to get serious about placing orders for their September and October needs. However, they are running into vast shortages of ammonia for export from the Arab Gulf to Southeast Asia.
The buyers are said to be holding off on making any quick deals because of rumors that Ma’aden is coming back online. Even if the Saudi plant restarts, sources said it will be a while before any extra tons are found from the area for a spot deal. One trader said larger buyers might find some break in their formula-based deals, but not much.
Northwest Europe:
The region was quiet this week, with steady movement and nothing to shake the market. Sources reported some inquiries, but nothing out of the usual.
Southeast Asia:
Demand in the area remains strong, with production from the regional suppliers holding up. Sources said the second half of August may even see some excess material that will allow for spot deals of limited tonnage to take place.
Buyers and sellers in the region are watching the Arab Gulf closely – especially the rumors that Ma’aden might soon restart. If the Saudi plant does successfully go back online, sources said the strength in pricing from Southeast Asia could falter.