U.S. Gulf/Tampa:
The Tampa ammonia market continued at $615/mt CFR for September. International and domestic demand remain strong. Hurricane Ida has taken some U.S. Gulf plants offline, at least for a while, tightening supplies for October.
Eastern Cornbelt:
The ammonia market remained at $645-$670/st FOB Eastern Cornbelt terminals for prompt or prepay, with the low reported at Lima, Ohio, and the high out of northern Indiana terminals. Most terminals in Illinois were steady at the $665/st FOB level for prompt or prepay in early September.
Western Cornbelt:
The ammonia market was steady at $645-$665/st FOB for prompt or prepay in the Western Cornbelt, depending on location and supplier, with the low reported in Nebraska on a spot basis and the high at Palmyra, Mo.
California:
Ammonia prices firmed in California on Sept. 1. Calamco reportedly raised its reference prices to $710/st DEL for anhydrous and $187/st FOB for aqua ammonia, reflecting increases of $84/st for anhydrous and $15/st for aqua.
Pacific Northwest:
The ammonia market in the Pacific Northwest remained at $695/st FOB regional terminals and $730-$760/st DEL, depending on location. Aqua ammonia prices were steady at $177-$183/st FOB in early September.
Western Canada:
Ammonia pricing in Western Canada was quoted in a broad range at C$980-$1,050/mt DEL for fall tons, depending on location.
Black Sea:
Increases in energy prices are expected to soon play havoc with ammonia prices. For now, however, sources said the price out of Yuzhnyy remain stable at $590/mt FOB.
The limited availability from Russian producers means that once contracts are covered, there is nothing available for the spot market. At the same time, high production costs in Ukraine are keeping ammonia out of the market. All in all, sources said there is nothing available to test new prices on the spot market in the area.
Middle East:
Vessels are lining up to take SABIC product. Earlier sources had speculated the line-up was for Ma’aden after reports the plant was back up and running. This week, however, as more details filtered out of Saudi Arabia, it seems that the Ma’aden facility is still only in the testing phase.
Industry observers have been hoping for a quick return of the Ma’aden plant. Supplies from the Arab Gulf have been tight, leaving no room for spot market activity. Even orders covered by long-term contracts have seen delays in getting filled as producers scramble for whatever material is available from just about any source.
Sources said while buyers are still hustling for product, even the small quantity produced in the Ma’aden test runs has helped ease the tight situation in the Gulf.
Iranian ammonia exports for January-July were up 71 percent, according to Trade Data Monitor, to 358,000 mt from 210,000 mt during the same period last year The main buyer so far this year was India at 228,000 mt.
July 2021 exports of 42,000 mt were marginally down from the July 2020 amount of 43,000 mt. The main buyer in July was once again India, taking 41,000 mt.
Northwest Europe:
Higher production costs for the European plants has led to higher ammonia prices in Antwerp. Sources reported a Fertiglobe-BASF deal at $700/mt C&F, moving the price up.
At the same time, Baltic deals are now a combination of formula-based agreements and spot prices. Sources said Acron and Eurochem are settling their deals on a formula based on the Yuzhnyy price, while Uralchem is reportedly closing deals at $590/mt FOB.
Southeast Asia:
Demand remains steady and is strong enough to keep the slack out of the system, but sources said there does not appear to be any major new demand on the horizon.
Ammonia imports by Thailand for January-July 2021 were up 30.7 percent, according to Trade Data Monitor, to at 267,000 mt from 204,000 mt during the same period in 2020. The main supplier this year was Malaysia at 182,000 mt.
June 2021 imports were up 81 percent, to 57,000 mt from 32,000 mt in June 2020. The stronger demand for ammonia confirms reports from industry sources that the region is showing signs of an economic rebound as more ammonia is being called for by industries emerging from COVID-19 shutdowns.