US Gulf/Tampa:
The Tampa ammonia price for February was concluded at $445/mt CFR, down $80/mt from January’s $525/mt contract. The settlement followed lower fill and prepay offers in the Cornbelt, as well as pressured prices in some offshore markets and news that production facilities in Europe may restart soon amid falling natural gas prices.
The Tampa reset pushed the NOLA ammonia barge market down to the $405/st FOB level for the latest indications.
Eastern Cornbelt:
Ammonia prices continued to land in the $550-$585/st FOB range for fill tons out of regional terminals in the Eastern Cornbelt, while spring prepay offers remained at the $590-$615/st FOB level in the region, with the low confirmed at Lima, Ohio.
Western Cornbelt:
Ammonia was steady at $550-$585/st FOB in Iowa and Nebraska for January-February fill tons, with spring prepay prices in the $580-$615/st FOB range in the Western Cornbelt, depending on location.
Northern Plains:
Ammonia in the Northern Plains continued to be reported in the $600-$640/st range FOB regional terminals for winter fill or spring prepay, with the availability of fill tons described as “extremely limited.” Delivered ammonia pricing in North Dakota was quoted at the $600/st level for fill and $625-$670/st DEL for spring prepay, depending on location.
Great Lakes:
Michigan sources reported ammonia offers at $535/st FOB Courtright, Ont., for prompt tons and $610/st FOB for prepay, while pricing at Huntington, Ind., was quoted at $585/st FOB for prompt and $615/st FOB for prepay.
China:
China will export ammonia when the global price is right and domestic demand is down, said one trader. Exports were 185,000 mt in 2023, Trade Data Monitor reported, off 22% from 238,000 mt in 2022. Vietnam led buyers with 52,000 mt in 2023, India took 50,000 mt, and Turkey bought 24,000 mt. December exports fell to 4,200 mt, a sharp drop from the 37,000 mt shipped in December 2022.
Ammonia imports picked up in 2023 as regional prices moved lower and the Chinese economy strengthened. Imports totaled 693,000 mt for the year, rising significantly from the year-ago 231,000 mt. December imports were 41,000 mt, up about 170% from 15,000 mt in December 2022.