Danish partners Topsoe, Skovgaard Energy, and Vestas on Oct. 5 announced that they have officially started construction of a green ammonia demonstration plant. The plant, near Lemvig, Denmark, will produce more than 5,000 mt/y of green ammonia and prevent 8,200 mt/y of CO2 from being emitted into the atmosphere.
Power for the plant will be supplied from renewable resources, including 50 MW of new solar panels and 12 MW of existing V80-2.0 MW Vestas wind turbines.
Ammonia power technology provider Amogy Inc., Brooklyn, New York, on Sept. 29 announced the opening of its Norway operations with the hiring of Christian W. Berg, Managing Director, Amogy Norway.
Berg joins Amogy Norway from his most recent position as Director of Business Development for Yara Clean Ammonia. He will be tasked with accelerating Amogy’s effort in commercializing its ammonia-to-power technology with partners in the Scandinavian countries.
“Norway and its forward-thinking maritime industry recognized the immense opportunity that ammonia presents as a green fuel, which gave the country a head start in establishing the needed infrastructure, so it only makes sense for Amogy to establish a significant presence here,” said, Seonghoon Woo, CEO of Amogy. “With Christian W. Berg, who has significant experience in accelerating the transition to ammonia, Amogy will have the immediate on-the-ground presence we need as we connect with potential partners and build our operations in the country.”
Amogy will establish its Norwegian headquarters in Stavanger and open a satellite office in Stord, co-located with the Maritime Cleantech (MCT) cluster headquarters office and the Catapult Centre Sustainable Energy test center. Amogy is a member of MCT and is evaluating projects to test in Stord, where its zero-emission shipping technology would be tested in simulated real-life conditions alongside other advanced sustainable energy technologies.
Amogy’s executive and R&D facility will continue to operate out of its Brooklyn headquarters, while additional business development and operation teams will be established in Norway.
Amogy reported that it is in the process of scaling its technology to decarbonized cargo ships and other heavy-duty transportation systems. It will also pursue strategic partnerships in the region to further these efforts, including a recent Memorandum of Understanding with Amon Maritime, an ammonia-powered shipping and technology company, to create competitive, full-scale, carbon free transportation solutions.
Founded in 2020 by four MIT PhD alumni, Amogy has investors including Amazon’s Climate Pledge Fund, AP Ventures, SK Innovation, Saudi Aramco Energy Ventures, and DCVC. To date, Amogy’s scalable ammonia-powered, zero-emissions energy system has been demonstrated with success in a drone and heavy-duty tractor (GM June 3, p. 32).
Green technology company Ocean GeoLoop, Verdal, Norway, on Oct. 5 announced that it has entered into a Letter of Intent (LOI) for carbon capture and electricity production with Yara Norge AS for the planned expansion project at the Yara calcium nitrate plant in Herøya in Norway. Ocean Geoloop said the project will target hard-to-abate process emissions from the calcium nitrate production.
In other news, Ocean GeoLoop said it expects to start their point-source industrial carbon capture pilot plant at Norske Skog Skogn, Norway, early this month. They expect the system to be stable within two weeks after startup. A comprehensive test program will be carried out in cooperation with SINTEF Industry in the months to come.
Seed technology startup Inari, Cambridge, Mass., has reached $1.5 billion valuation after raising $124 million in fresh financing, according to a Bloomberg report.
Inari makes gene-edited seeds that are designed to withstand the consequences of a changing climate, CEO Ponsi Trivisvavet said in an interview. “Land, water, and nitrogen fertilizer are pretty heavy resources, and if we want to address the challenge of sustainability, we have to work on these three things,” saying that Inari’s seeds require less water, land, and fertilizer.
The company will use the money to advance its seed designs and accelerate new products in corn, soybean, and wheat seeds, as well as help expand greenhouses and prepare for commercialization.
Major investors in Inari’s funding round include new investor Canada Pension Plan Investment Board and Sage Hill Investors, as well as company founder Flagship Pioneering and existing investors Hanwah Impact Partners, NGS Super, and Banque Pictet.
Inari has also entered into a refinanced and upsized loan agreement with healthcare-focused specialty finance company K2 HealthVentures. This will allow Inari to access up to $60 million in debt capital, the company said.
Low water levels closed the Mississippi River near Stack Island, Miss., causing a backup of 117 vessels and 2,048 barges in the area as of midday Thursday, Oct. 6, while a shutdown near Memphis, Tenn., caused a smaller logjam, according to the Coast Guard, as reported by Bloomberg. The US Army Corps of Engineers is dredging near Stack Island, and the Coast Guard intends to reopen the waterway with restrictions at some point Friday, Oct. 7.
Ingram Barge Co., the top US barge operator, declared force majeure due to “near-historic” low-water conditions along the Mississippi River. The company said on many river segments, it has reduced its maximum allowable barge drafts and overall tow sizes in an attempt to continue to safely operate.
“Chronic low water conditions throughout the inland river system have had a negative effect on many who rely on the river,” said John Roberts, Ingram CEO. He said low water levels are affecting part of the company’s operations below Baton Rouge, La.
Major barge lines were turning away spot business as they struggle to meet demand for grains, metals, fertilizer, and other raw materials already contracted well in advance. Shipping prices are soaring. Barge rates reached $49.88 per ton on Tuesday, Oct. 4, the highest on record and up nearly 50% from a year ago, according to a government report released Thursday.
“I think the river is the biggest subject of interest,” one fertilizer industry source told Green Markets early in the week. “With the current forecast and pace of harvest, resupply is going to be a problem. I would not be surprised to see terminal tons in place start disconnecting from NOLA and bringing a premium by this time next week, if not sooner.”
The logjam is coming at the worst time, as the soybean and corn harvests are each about one-fifth complete and supplies will start piling up. The river woes, coupled with a soaring dollar, are harming demand for US supplies even with Russia’s invasion of Ukraine still impeding shipments in the Black Sea.
“We’re losing demand because of reduced export capacity,” said Susan David, a grain analyst in St. Louis. “We’re creating piles everywhere.”
“It’s game time,” said Mike Steenhoek, Executive Director of the Soy Transportation Coalition. “We need our supply chain to be operating on all cylinders.”
The corn industry depends on the Mississippi River for moving 65% of its exports. It’s also the most “efficient and cost effective way for the Cornbelt to receive inputs,” said Matt Ziegler, Public Policy Manager at the National Corn Growers Association.
While barge scarcity and rate spikes could be “detrimental” to growers, “I’m not sure there’s much we can do about it,” Ziegler said.
Limited vessel capacity follows freight railroad disruptions earlier this month and ongoing challenges in securing trucks. The nationwide labor crunch is also a problem, as the barge industry is having difficulty hiring and retaining workers, according to USDA.
While many barge users are now looking to rail and truck as alternatives, they may not be that readily available. “In order to move the amount of freight that currently is in transit via barge on the Mississippi, it would require an immense amount of capacity that is unique from an equipment standpoint,” said Charles Roth, an analyst at FTR Transportation Intelligence. “The trailers required to haul grain versus coal and versus bulk liquids are all different. There’s limited options for moving that freight.”
A peaking La Nina is limiting storms coming in from the southwest that would replenish rivers, and any significant relief is unlikely through the first 10 days of November, according to World Weather Inc. President Drew Lerner. “I don’t have a major storm coming up for the balance of the month. I’m a little pessimistic and not feeling good about the situation.”
Two obstinate weather patterns parked over both US coasts are starving the Mississippi River of rain, threatening to push water levels down to their lowest in a decade.
While the river levels typically get lower this time of the year, extreme drought conditions this summer and below-normal rainfall have made the water levels lower than usual, said Jeff Graschel, a hydrologist with the Service’s Lower Mississippi River Forecast Center.
The European Union (EU) on Oct. 4 adopted a new package of sanctions on Russia, including legislation to put a price cap related to the seaborne transport of Russian oil for third countries, and further restrictions on the seaborne transport of crude oil and oil products to third countries.
These latest sanctions come amid Moscow’s escalating war of aggression against Ukraine and the illegal annexation of Ukraine’s Donetsk, Luhansk, Zaporizhzhia, and Kherson regions.
The combination of the new measures effectively means it will be prohibited for EU companies to provide maritime transport and to provide technical assistance, brokering services, or financing or financial assistance related to the seaborne transport of crude oil to third countries as of December 2022, or oil products as of Feb. 2023, which originate in or are exported from Russia, according to a statement by the EU Council.
The price cap derogation would allow the provision of transport and these services if the oil or oil products are purchased at or below a pre-established price cap, the statement read.
In addition to the aim of the price cap to “drastically reducing the revenues Russia earns from oil,” it is hoped the oil price cap can also serve to stabilize global energy prices, the EU Council said.
The new sanctions did not address gas directly. But the new package highlights the European Commission’s “determination to continue making the Kremlin pay,” Bloomberg cited European Commission President Ursula Von Der Leyen saying on Twitter.
Natural gas prices fluctuated as traders digested the latest EU sanctions on Russia, and news that Russian state-run gas major Gazprom PJSC had resumed gas flows to Italy via Austria.
Benchmark prices on the Dutch TTF in Amsterdam rose as much as 6.7% on Oct. 5 to €173.695 per megawatt-hour (MWh). But the front-month (currently November) was down 3.9% at €166.90 per MWh as of 3:59 p.m. (GMT) on Oct. 6, its lowest level since July 22.
Russian gas exports to the EU have fallen to a fraction of their levels before the invasion of Ukraine began, to around 9% of total gas requirements, down from around 40% previously (GM Sept. 30, p. 1).
Gazprom reported that its gas output fell by 17.1% year-over-year to 313.3 billion cubic meters in the nine months to Sept. 30, 2022, according to a Prime news agency report, citing an Oct. 3 statement from the company on preliminary production data.
According to the report, gas exports to non-CIS states fell 40.4% on the year to 86.9 million cubic meters, while gas supplies to China via the Sila Sibiri pipeline continued to increase.
Even so, Gazprom reached a solution with Italian buyers to overcome recent regulatory changes in Austria that were preventing transit flows, Bloomberg reported, adding Italy’s Eni SpA had confirmed the resumption of gas shipments.
But supply risks to Europe remain, as well as questions about the region’s ability to replenish inventories at the end of this winter, or in the event of prolonged cold weather. The EU remains heavily dependent on stockpiles and imports of liquefied natural gas (LNG) to see it through the winter months.
“We probably have to assume that the piped flow of Russian gas into Europe will not be back” after Russia’s war in Ukraine ends, adding that Europe’s energy crisis could look more severe in the 2023-24 winter than in the coming winter, said Shell Plc Executive Vice President LNG Cederic Cremers at the Energy Intelligence Forum in London this week, as cited by Bloomberg.
Russian gas flows through Nord Stream 1, the key pipeline bringing Russian gas to Europe via Germany, have been halted since Aug. 31 (GM Sept. 2, p. 35), while Nord Stream 2 has never started up commercial operation.
Four leaks were detected early last week on Nord Stream 1 and on the Nord Stream 2 pipeline, which runs parallel with Nord Stream 1 under the Baltic Sea, after explosions were heard. Two of the leaks were in Danish waters and two in Swedish waters north of the Danish Island of Bornholm
Several governments last week believed the damage to the Nord Stream gas structures was “deliberate” and “an act of sabotage,” with many pointing the finger at Moscow.
This week, Swedish investigators, as cited by a Bloomberg report, said detonations caused the ruptures to the pipelines, “with evidence pointing to a deliberate act.”
The Swedish Security Service said in a statement on Oct. 6, as cited by the report, that the completed preliminary investigation has “strengthened the suspicions of serious sabotage,” but stopped short of saying how the detonations occurred or who might be responsible.
While the Nord Stream 1 or 2 pipelines had not been transporting gas, both contained gas at the time of the leaks. Sources close to the matter had said the absence of active gas flows through the two pipelines had limited the immediate impact of the damage from leaking gas.
Gazprom reported early on Oct. 3 that the gas leaks on the two pipelines had stopped, adding it was siphoning off gas from the last thread of Nord Stream 2 and would inspect the integrity of the pipelines, as cited by a Prime news agency report.
A cooling tower fire was reported at a Yara Brasil SA facility in Cubatao, Sao Paulo, on Wednesday evening, Oct. 5, according to global.com. Local firefighters and Yara personnel were reported to have had the fire under control within 30 minutes.
No injuries were reported, and there was no evacuation. The company was reported as saying that the fire did not affect storage, and the mixing of fertilizer and operations were resumed. There was no information on the cause of the fire.
US Gulf/Tampa:
With Tampa ammonia going up only $25/mt for October, to $1,175/mt CFR from September’s $1,150/mt CFR, the product appears to have lost some of its momentum. However, much can change before the conclusion of November business late this month.
Eastern Cornbelt:
The ammonia market reportedly edged up to $1,275-$1,300/st FOB for the last confirmed offers in the Eastern Cornbelt, with the low reported out of Koch terminals in Illinois and the high FOB Lima, Ohio. CF has reportedly pulled its ammonia offers, with the last confirmed prices at the $1,300/st FOB level in Illinois and Indiana.
Western Cornbelt:
New ammonia offers in the Western Cornbelt were confirmed in the $1,250-$1,275/st range FOB terminals, up from the low-$1,200s/st at last report. The last price FOB Palmyra, Mo., was reported at the $1,225/st FOB level in September, but sources said no offers were on the table at that location in early October.
Northern Plains:
The latest ammonia offers in the Northern Plains were pegged at $1,200-$1,250/st FOB and $1,245-$1,300/st DEL, up from a broad $1,100-$1,200/st FOB and $1,150-$1,275/st DEL in mid-September.
India:
The price was pegged at $850-$890/mt CFR for smaller spot ammonia deals into India. However, sources said there may be a push for more ammonia, which could move up prices.
Reports that India has secured phos acid deals at $1,100-$1,200/mt CFR and is pushing for $1,000/mt CFR could mean the country might step up its DAP production. If that happens, said an ammonia trader, demand for ammonia will also pick up and put upward pressure on the price.
Middle East:
Sources said only contract tons are moving out of the area, leaving the ammonia price at $1,000-$1,100/mt FOB.
Just a month after it started production, sources said the new OQ ammonia plant shut down for unnamed reasons. Sources are inquiring about when the facility will be back online. The loss of the product from the 1,000 mt/d facility, if short-lived, is not expected to greatly affect market supplies or prices. The launch of the plant in the global market in early September provided extra tonnage in what sources said was already a surplus situation.
Sources said producers are looking to conclude more deals with buyers in Europe. The netback into Europe is better than the Southeast Asia market. Sources said the slow Asian market is leaving some producers with excess tons.
Reportedly, the Asian buyers are reluctantly accepting delivery of their contracted tons, but are asking for only the bare minimum in each shipment. Some buyers are requesting delays of their contracted tons. There are even reports of buyers trying to get out of their contracts.
The slow nature of the Southeast Asian market is causing concern among producers that a surplus could build. As a result, they are looking to other markets to quickly move the product out to maintain a supply/demand balance, along with a steady price.
Northwest Europe:
A sale of an Algerian cargo to Turkey at $1,200/mt FOB helped confirm steady pricing in Northwest Europe. Sources said prices in the area have been fluctuating in the $1,250-$1,310/mt CFR range, which fits with the Algerian sale.
Reportedly, the deals out of Antwerp are small quantities and on a hand-to-mouth basis. Buyers and sellers both seem reluctant to take a long position. Tonnage into the area remains steady, leaving little room for price increases. Sources point to arriving cargoes from Brazil, Trinidad, and Southeast Asia, as well as regular shipments from North Africa. Some cargoes from the Arab Gulf are also showing up.
Industry watchers are paying attention to talks within the European Union about subsidies for natural gas. Even with the discussed subsidies, sources said the production cost in Europe would be higher than the imported price. Sources are not even sure if the subsidies would be allowed for industrial use. One trader said the subsidies would most likely be directed at home heating during the winter.
Turkish buyers have reportedly stepped up their inquiries for material. Sellers from the Arab Gulf, Iran, and North Africa have all begun to take notice of the increased demand. An Algerian seller just closed a deal with Turkey at $1,200/mt FOB.
Turkey’s imports of ammonia for January-August were reported at 435,000 mt by Trade Data Monitor, down 24% from the 569,000 mt imported during the same period of 2021.Two ammonia producers sent ammonia to Turkey for the first time in years. Bahrain sent 77,000 mt during the reporting period, and Saudi Arabia sent 54,000 mt.
Looking at the total for the first eight months of the year, Russia appears to be the dominant supplier with 162,000 mt. However, most of that material was shipped in the first quarter of the year, before the Russian-Ukraine pipeline was shut because of Russia’s invasion of Ukraine. Sources said reports of Russian material arriving in Turkey are most likely the last bit of material stored in warehouses in Yuzhnyy or Ventspils. Some of the material, such as the 9,000 mt reported arriving in August, could also be the last of the product that got recorded late.
Russian imports into Turkey for March-August 2022 were reported at 220,000 mt, compared with 296,000 mt during the same period in 2021.
August 2022 imports were reported at 43,000 mt, down 38% from the 68,000 mt received in August 2021. Saudi Arabia and Bahrain each sent 14,000 mt, giving each a 32% share of the import ammonia market in Turkey. Russia sent 9,000 mt, for 20% of the market. Sources said this tonnage will most likely be the last of Russian material received by Turkey until the war in Ukraine is settled.
Southeast Asia:
Sources are not sure what the impact will be, but Petronas declared a force majeure on its LNG shipments. The reason for the declaration is unknown, as is its potential impact on ammonia production in the area. For now, said one trader, people are just watching the situation closely.
Demand for ammonia in the area remains lackluster. Sources said in some cases buyers are asking their suppliers to send just the bare minimum required under their contracts. Some are also asking for a shipment to be skipped. And, according to unconfirmed rumors, some are even considering scrapping their contracts.
The slowdown of industrial production in the area has led to reduced demand for ammonia. At the same time, China has stepped up its exports of ammonia, providing regional buyers quicker access to a cheaper product.
Brazil:
Brazilian imports of ammonia have slowed down, while exports have picked up.
Imports of ammonia into Brazil for January-September 2022 were reported at 319,000 mt by Trade Data Monitor, down 28% from the 445,000 mt imported during the first three quarters of 2021. The main supplier this year was Trinidad with 269,000 mt.
There were no September 2022 imports compared to the 9,000 mt imported during September 2021.Third-quarter imports were pegged at 79,000 mt, down 35% from the 123,000 mt received during the same period of 2021. Trinidad sent 61,000 mt and the US shipped 18,000 mt.
Exports of ammonia from Brazil for January-September 2022 jumped to 93,000 mt, up from the 17,000 mt during the same period in 2021. The exports so far this year are significantly higher than previous years. Trade Data Monitor figures showed that the amount of ammonia exported during 2017-2021 was 141,000 mt. Exports alone in 2022 are on track to exceed that five-year total.
The main buyers so far this year have been South Africa, taking 60,000 mt for 65% of the export market, while France took 12,000 mt and Spain took 10,000 mt.
Exports during the year have been sporadic. September 2022 exports of 44,000 mt represented the largest so far this year. Exports in February, April, and June ranged from 15,00-18,000 mt each month. The rest of the months had no exports, or tonnage below 100 mt.
US Gulf:
The NOLA urea barge range stretched to $590-$635/st FOB from the week-ago $600-$635/st FOB.
Eastern Cornbelt:
Urea terminal prices remained under pressure, along with NOLA barge values. The market reportedly slipped to $675-$685/st FOB in the Eastern Cornbelt, down from the prior week’s $680-$700/st range, with the low confirmed out of river terminals in Illinois and the high reported at Cincinnati, Ohio.
Urea pricing in the Great Lakes region was pegged at $730-$749/st FOB, with the low confirmed at Toledo, Ohio, for October-December tons and the high out of spot Michigan warehouses.
Western Cornbelt:
Urea pricing was reported at $670-$690/st FOB in the Western Cornbelt, depending on location, with the low confirmed at St. Louis, Mo. Delivered offers were pegged at the $745-$755/st level in Iowa during the week.
Northern Plains:
Urea prices reportedly fell to $670-$685/st FOB St. Paul, Minn., while delivered tons in the North Dakota market were reported in the $750-$790/st range, depending on location. The last price at Carrington, N.D., was reported at the $710/st FOB level.
Northeast:
The latest urea offers in the Northeast were confirmed at $690/st FOB Fairless Hills, Pa., down from $730/st FOB in mid-September. In the South Central region, urea pricing at Convent, La., was pegged at the $670/st FOB level during the week.
Eastern Canada:
The urea market in Eastern Canada was reported at C$1,090-$1,120/mt FOB in early October, depending on location and supplier.
India:
The eyes of the urea world are once again turning to India. Sources said the paperwork process has started for IPL to call a tender as early as next week, but no one could nail down details.
India still needs 3 million mt to close out the current application season. Sources said the main issue will once again be availability of material. With limited Russian product available and even less Chinese urea, traders offering into the tender will be hard pressed to secure large quantities at low prices. In fact, the general consensus is that prices in the upcoming tender will be higher than the $668-$675/mt CFR paid in the last tender.
Pakistan:
Sources said the government is ready to grant TCP permission to import 300,000 mt. Some said the purchase will be a government-to-government deal, while others suggest TCP will likely call a public tender.
Recently TCP has gone the government-to-government route, which allows for price negotiations that include the full amount desired.
In the past, the rules of tenders out of Pakistan required TCP to take only the lowest offer. If that offer did not include the tonnage requested, TCP would keep calling tenders until the requirements were met. This often led to long delays in obtaining the necessary urea, and ever rising prices.
Pakistan media reported that a proposal sent to the government would give TCP temporary authority to run a urea tender in the same manner as the Indian buyers. The process would allow TCP to go to the offering companies to match the lowest price in the tender once it was accepted. The amended rules will include more provisions for transparency in the negotiations and acceptances, according to press reports.
Black Sea:
The estimated price of prilled urea dropped to $530-$555/mt FOB. Sources added some higher priced granular is also coming from ports on the far east of the Black Sea.
Urea imports by Turkey for January-August 2022 were reported at 1.5 million mt by Trade Data Monitor, down 17% from the 1.8 million mt imported during the same period in 2021. The main suppliers were Oman with 769,000 mt, Turkmenistan with 194,000 mt, Egypt with 156,000 mt, Russia with 146,000 mt, and Iran with 113,000 mt.
August 2022 imports were reported at 186,000 mt, down 17% from the 223,000 mt imported during August 2021. Oman sold 102,000 mt into Turkey, dominating the market with a 55% share. Turkmenistan sold 33,000 for an 18% share, followed by Russia with 32,000 mt for 17% of the import market.
Indonesia:
Sources said Pusri and Kaltim are looking to hold selling tenders soon. In the past, the Indonesian companies have issued the tenders right about the same time an Indian tender is called, often in the hopes of securing commitments for large quantities to be sold into India with a good netback.
Middle East:
The big news out of the region came from Egyptian buyers. The week opened with MOPCO announcing a sale of two lots of 10,000 mt at $710/mt FOB for late-October shipment. Within hours of that announcement, another cargo of 5,000 mt was sold at $715/mt FOB. This last sale reportedly closed the books on available October tonnage.
The next day, new sales from MOPCO, AQ, and AlexFert were reported at $750-$760/mt FOB for November shipment.All the deals were to traders. Sources said the purchases were most likely by traders taking position on product for later placement into Europe.
Arab Gulf producers continued to stay out of the spot market as they finished fulfilling their orders from the last Indian tender. Long-term contract tonnage also flowed out of the region.
China:
Sources said work was limited during the week because of the Oct. 1 Chinese National Day. Offices and factories are expected to resume normal schedules next week.
Brazil:
Urea prices in Brazil remain weak as supplies grow. Sources reported deals this week at $650-$660/mt CFR. The bearish market reportedly led some buyers to push for $640/mt CFR. There were even reports that urea from Iran or Venezuela – both sanctioned countries – was being offered at $600-$630/mt CFR. No takers were confirmed at the lower levels.
Downward pressure is expected to continue on pricing. Sources said the vessel lineup for the fourth quarter already shows about 1.2 million mt of urea booked and on its way to Brazil. The vessels coming in will most likely find ports still backed up and warehouses full as farmers remain hesitant to commit to large purchases.
Rondonopolis urea is pegged at $775-$840/mt FOB ex-warehouse. Buyers remain nervous about making a commitment to large purchases. Some want to wait until the grain price and fertilizer price ratios improve.
Urea imports for January-September 2022 were reported at 5.2 million mt by Trade Data Monitor, down slightly from the 5.4 million mt imported during the same period in 2021. The top suppliers were Oman with 1.1 million mt, Qatar with 948,000 mt, Russia with 942,000 mt, and Nigeria with 916,000 mt.
September 2022 imports were reported at 760,000 mt, up 8% from the 706,000 mt imported during September 2021. The bulk of the imports – about 80% – came from four supplying countries:
| Supplying Country | Quantity (mt) | % Of Import Market |
| Oman | 197,000 | 26 |
| Russia | 159,000 | 21 |
| Qatar | 141,000 | 19 |
| Nigeria | 96,000 | 13 |
Third-quarter 2022 imports were reported at 2.1 million mt, up 12% from the 1.9 million mt imported during the same period in 2021. This boost in purchases is cited as causing the downward pressure on prices after end-users failed to step in and buy the product. Warehouses at the ports and inland are filled with urea purchased in July-September and looking for a home.
US Gulf:
NOLA UAN barge price ideas were reported at $550-$555/st ($17.19-17.34/unit) FOB, up from the week-ago $537-$550/st ($16.78-$17.19/unit) FOB.
Eastern Cornbelt:
UAN pricing continued to climb on “very thin availability,” according to one regional contact. The UAN-28 market strengthened to $530/st ($18.93/unit) FOB Cincinnati, up some $35-$45/st from last report. UAN-32 pricing in the Eastern Cornbelt fell in a tight range at $590-$600/st ($18.43-$18.75/unit) FOB during the week, with rail-DEL tons reported at $625-$635/st ($19.53-$19.84/unit).
The last UAN-28 offers in Michigan were pegged in the $562.50-$575.63/unit ($20.09-$20.56/unit) FOB range, depending on location and time of shipment.
Western Cornbelt:
UAN-32 prices in the region pushed up to $585-$610/st ($18.28-$19.06/unit) FOB for limited offers, with the low reported at Port Neal, Iowa, and the high at Muscatine, Iowa. Rail-DEL pricing was pegged at the $615/st ($19.22/unit) level or higher in the region. The St. Louis market was pegged at $590-$600/st ($18.43-$18.75/unit) FOB at midweek.
Northern Plains:
The latest UAN-32 offers were quoted at $595-$610/st ($18.59-$19.06/unit) FOB in Minnesota, with the lower end reported at Winona. The UAN-28 market in North Dakota ranged broadly at $550-$600/st ($19.64-$21.43/unit) FOB in early October, depending on location.
Northeast:
UAN-32 offers were confirmed at $575-$580/st ($17.97-$18.13/unit) FOB Baltimore, Md., and $640/st ($20.00/unit) FOB terminals in upstate New York, reflecting a $40-$50/st increase. UAN-30 offers in the Baltimore market were reported at the $540/st ($18.00/unit) FOB level during the week.
Eastern Canada:
The UAN-28 market was reported in a broad range at C$790-$935/mt (C$28.21-$33.39/unit) FOB in Eastern Canada, depending on location. No current prices were reported for UAN-32 due to very thin supply.
