US Gulf/Tampa:
Tampa ammonia remained at September’s $530/mt CFR level, with no news reported for October. Nutrien on Sept. 19 confirmed the sale of approximately 15,000 mt of ammonia from Trinidad to Spain at $590/mt CFR, with delivery scheduled for early October.
Eastern Cornbelt:
Ammonia prices remained at $545-$575/st FOB terminals in the Eastern Cornbelt, depending on location and producer. While some sources said CF had pulled all offers on Sept. 19 in anticipation of a price increase, others said offers were still on the table at previous levels late in the week.
Western Cornbelt:
Ammonia was unchanged at $545-$570/st FOB in the Western Cornbelt, depending on location.
Southern Plains:
The ammonia market was quoted at $500-$525/st FOB terminals in Oklahoma and Kansas, with the low reported at Verdigris and Woodward, Okla., and the high at Coffeyville, Kan.
South Central:
Sources continued to report no ammonia offers for truck tons from El Dorado, Ark., Midway, Tenn., or Cherokee, Ala., in mid-September. The truck market out of Gulf Coast production points was quoted at the $480/st FOB level.
Northwest Europe:
An Algerian sale at $550/mt FOB late last week pushed delivered ammonia prices in Northwest Europe to a high of $595/mt CFR, moving the regional market to $560-$595/mt CFR from the prior $550-$560/mt range. Tight availability, stable natural gas prices, and upcoming seasonal downstream demand appear supportive of the higher levels.
India:
Public spot purchases have been put largely aside in India as international prices continue to rise. Ammonia imports now appear to be limited to long-term formula-based contracts and quiet purchases of Iranian material. Sources said both methods provide product at much lower prices than possible in the current international market.
Middle East:
Sources confirmed a deal from SABIC out of the Arab Gulf to Trammo at $430/mt FOB. While some traders expected a price increase in the region, a jump of this magnitude was seen as too much, too soon. Some speculated the move could represent a hedge made in anticipation of rising prices in Northwest Europe.
Southeast Asia:
No new spot activity was reported in Indonesia and Malaysia this week, leaving the Southeast Asia ammonia market unchanged at $360-$380/mt FOB. The lack of regional interest was evidenced by a reported sale of Indonesian material by Mitsubishi to Koch for delivery to Mexico, one trader noted.
The Ma’aden turnaround has tightened supply, however, resulting in higher indications of $370-$400/mt FOB for the next transactions. A small deal for Indonesian product was reported going to China at $460/mt CFR, a price some traders saw as too high for the current market.
South Korea:
January-August ammonia imports to South Korean totaled 806,000 mt, Trade Data Monitor reported, a 10% increase from the year-ago 733,000 mt. Indonesia shipped 375,000 mt, followed by Saudi Arabia with 308,000 mt. August imports were pegged at 92,000 mt, up 10% from the 83,000 mt received in August 2023.