US Gulf/Tampa:
No Tampa ammonia news was out for July as Green Markets went to press. While some were speculating last week that the price would be down from June’s $400/mt CFR based on aggressive fill offers circulating briefly in the Cornbelt, others suggested a rollover or slight increase this week, citing higher but limited Cornbelt offers this week and reports of new business out of Trinidad at the $375/mt FOB level.
Eastern Cornbelt:
After last week’s aggressive fill programs that circulated briefly on June 20 at the $410/st FOB level in the Eastern Cornbelt, new ammonia pricing was launched this week at $460-$475/st FOB in the region, depending on location. The offers were limited, however, with not all producers participating.
Western Cornbelt:
Few new ammonia offers were on the table in the Western Cornbelt after last week’s limited fill program offers, though sources speculated that any new business would be up roughly $50/st from last week, to $440-$450/st FOB. “It’s been really quiet on the ammonia front,” commented one regional source at midweek.
Southern Plains:
Sources reported no new ammonia prices in the Southern Plains following last week’s fill program offers at $335/st FOB Enid, Okla., $350/st FOB Dodge City, Kan., and $370-$375/st FOB Verdigris, Okla., and Coffeyville, Kan. Those offers were no longer on the table this week.
South Central:
The only new ammonia offer reported in the South Central region during the week was $350/st FOB Midway, Tenn. Sources said no other regional terminals had prompt or fill prices on the table in late June.
Northwest Europe:
Ammonia in Northwest Europe was stable again this week, as were natural gas prices. With the latest business ex-Trinidad closing above prior levels, however, a response is expected by some on the European front.
Others expect a flat market going forward, citing the offseason for demand in Europe and other regions, as well as softer prices in the US market for fill program offers.
India:
Prices in India remained steady at $397/mt CFR in the absence of new spot deals.
Middle East:
Arab Gulf supply is expected to strengthen as production ramps up, sources said. So far, said one trader, supply and demand have remained in balance, but an increase in product over the next few weeks could lead to softer prices unless demand firms.