Sources reported SABIC sold 45,000 mt of granular urea at $274/mt FOB for late October loading. The price represents a $10-$15/mt jump in the Arab Gulf urea price. It comes on the heels of a steady growth in Egyptian urea prices and just as RCF/India is set to close a tender Friday, October 9.
Clean energy technology company Monolith Materials, Lincoln, Neb., reports that it is planning a 275,000 mt/y carbon-free ammonia plant in Hallam, Neb. Monolith technology converts natural gas into carbon black and hydrogen, with the latter expected to be used for ammonia production. Its first commercial scale carbon black/hydrogen plant is currently being commissioned, and the second plant will begin construction in 2021. The second plant, which will have larger capacity, will integrate the ammonia plant.
Monolith expects to supply its ammonia to the agriculture market in the Corn Belt.
NeuAG LLC, The Woodlands, Texas, reports that it has completed a debt financing agreement with funds managed by Oaktree Capital Management LP to assist in funding the construction of a $90 million ammonium sulfate storage and distribution facility in Freeport, Texas. Previously announced in May 2020, NeuAG will become BASF Corp.’s new exclusive partner to distribute and market ammonium sulfate, which comes from BASF’s caprolactam production. Construction of the new facility, which will be adjacent to the existing BASF complex in Freeport, began in September 2020.
