US Gulf/Tampa:
Sources reported few truck offers for ammonia out of Gulf Coast terminals in mid-March, with the last business confirmed at $500/st FOB. The Tampa price continued at March’s $445/mt CFR contract level.
Eastern Cornbelt:
A lull in fieldwork due to wet weather allowed some ammonia terminals to restock inventories after a brisk application pace earlier in the month. Sources quoted ammonia pricing firmly in the $625-$635/st FOB range in the Eastern Cornbelt at mid-month, with the low in Ohio and the high reported in Indiana and Illinois.
Western Cornbelt:
Sources continued to report ammonia offers in the $615-$635/st range FOB regional terminals in the Western Cornbelt, depending on location.
Southern Plains:
The latest ammonia prices out of production points in the Southern Plains were quoted at $590-$615/st FOB for very limited offers, with the low reported at Woodward, Okla., and the high in Kansas.
No ammonia offers were confirmed at Verdigris, Okla., during the week. The last truck prices out of Gulf Coast terminals in Texas were pegged at the $500/st level FOB, but sources were unsure if any current offers were on the table during the week.
South Central:
Ammonia was quoted at $525-$625/st FOB for limited offers out of terminals in the South Central region, depending on location. The high was reported for the last sales out of Cherokee, Ala., but sources reported no offers from that location at mid-month, nor from terminals at El Dorado, Ark., Midway, Tenn., Waggaman, La., or Donaldsonville, La.
Northwest Europe:
Imported ammonia prices into Northwest Europe showed no change this week, despite several suggested inquiries from buyers. Natural gas prices remain stable-to-soft at around $8/mmBtu, which imply production costs just shy of $300/mt, excluding CO2, far below the $450-$460/mt CFR range still notionally indicated for offshore tons.
Black Sea:
Turkey imported 93,000 mt of ammonia in January, Trade Data Monitor reported, down 18% from the 113,000 mt received in January 2023. Algeria sent 38,000 mt, Qatar added 32,000 mt, and Oman shipped 22,000 mt.
Brazil:
Brazil typically sells ammonia on the regional market when it is oversupplied. So far in 2024, the country has exported just 40 mt compared to the 33,000 mt it shipped through the first two months of 2023, according to Trade Data Monitor. February exports totaled 20 mt, down from 19,000 mt in February 2023.
Ammonia imports for the first two months of the year were reported at 74,000 mt, almost double the 38,000 mt that Brazil received during the same period of 2023, with Trinidad and Tobago responsible for 95% of the imports. The country imported 28,000 mt in February, up 21% from 17,000 mt in February 2023.