Ammonia Prices, markets & analysis
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Ammonia – Europe Transcript
ICIS reports on Ammonia on a global basis, with reports in Europe, Asia and the US.
At the same time, unlike our competitors we are able to draw on global resources in London, Huston, Singapore and Shanghai.
In Europe, we report on the key benchmark using the FOB spot price and also includes CFR prices for Africa and North West Europe.
In the Asia section we have CFR prices for India, Taiwan and Korea.
Throughout the week we speak to a wide range of people including producers, consumers and traders in order to obtain a broad range of accurate information for our subscribers.
All of our reporting is backed up by strong methodology.
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Updated to Q2 2015
Ammonia prices in India and Asia Pacific maintained a downward trajectory throughout the second quarter as they reflected falling export prices in the Arabian Gulf and softer demand from industrial users in Korea and Taiwan.
Having started the 13-week period at around $500/tonne CFR (cost & freight) Korea/Taiwan, contract prices in both countries fell steadily during April and May to around $435/tonne CFR. This was in line with spot business at $433/tonne CFR between Korea’s Namhae and Norway’s Yara for a 15,000 tonne Australian cargo that arrived in the first half of June.
However, prices started to edge back up towards the end of June, hovering at around $440/tonne CFR Korea/Taiwan as reduced spot availability from the Arabian Gulf and planned and unplanned production shutdowns in Indonesia limited supply.
In India, FACT twice failed to conclude spot business for May and June arrivals, with offers submitted in two tenders at $500-525/tonne CFR Cochin rejected as too expensive. A third tender was issued in late June, with the buyer hoping suppliers would offer at $440-450/tonne CFR, which was in line with contract prices.
Updated to Q2 2015
Little movement was seen in the benchmark Black Sea ammonia price during the April-June period as an even supply/demand balance saw plenty of deals done in the $370-400/tonne FOB (free on board) range.
Around 280,000 tonnes of ammonia/month left the Ukrainian port of Yuzhny for destinations in Northwest Europe, North Africa and the US, although the vast majority of those cargoes were contract deliveries rather than spot.
Weakened demand from Tunisian phosphates producer GCT meant Ameropa sold 23,400 tonnes to Koch for discharge in the US, with the buyer loading its usual 40,000 tonnes/month from the Black Sea and the same volume from the Baltic. Ameropa also supplied a cargo to a long term Jordanian customer of Qatar’s Muntajat in second half June.
A fire at Yara’s ammonia plant in Brunsbuttel, Germany, in mid-June prompted the Norwegian fertilizer giant to purchase 20,000 tonnes of spot ammonia from multiple producers at $400/tonne FOB for July loading in Ventspils, Latvia, and Sillamae, Estonia.
Updated to Q2 2015
The domestic ammonium phosphate market received support from the export market from April to June, as the low demand season continued.
Export demand offset the end of the domestic demand season in April, which tempered the fall in domestic prices. In May, large-volume export orders pushed up granular monoammonium phosphate (MAP) export prices from $355/tonne FOB to above $370/tonne FOB. Selling ideas for large and medium-sized diammonium phosphate (DAP) producers firmed at $465/tonne FOB. In addition, the cancellation of favourable electricity prices for fertilizer producers lifted production costs, which gave the incentive for ammonium phosphate producers to firm their prices. However, from mid-to-late June, limited new orders for DAP slightly pulled down discussion levels. Export prices of some small and medium-sized DAP producers were no higher than $465/tonne FOB. Domestic MAP prices were largely stable on modest demand from the compound fertilizer producers as the autumn purchase season arrived earlier.
Supply tightened slightly as many ammonium phosphate producers conducted maintenance in April-May and this also supported the domestic market. The next turnaround season will arrive in October-November before the peak winter buying period.
At the end of June, most ammonium phosphate producers said that the market would unlikely regain steam in the near term. However, most of them have received enough orders for production until the end of July to prepare for the autumn buying starting from mid-August. Hence, they are mostly expecting prices to remain largely flat, with little downside potential.
ICIS reports on ammonia on a global basis, with reports in Europe, Asia and the US. At the same time, we are able to draw on global resources in London, Houston (Texas), Singapore and Shanghai.
In Europe, we report on the key benchmark using the free on board (FOB) Yuzhny spot price and also include cost & freight (CFR) prices for north Africa and northwest Europe (NWE).
In the Asia section, we have CFR prices for India, Taiwan and Korea. Throughout the week, we speak to a wide range of people – including producers, consumers and traders – in order to obtain a broad range of accurate information for our subscribers. All of our reporting is backed up by a strong methodology.
ICIS collects pricing data on a wide range of chemical, energy and fertilizer products, including Ammonia. Our extensive experience in price reporting means we can offer you access to historical data dating back more than 20 years for certain commodities.
Our time series of pricing data enables you to build and model trends, to get a view of where markets might be heading. The data service includes charting functionality, allowing you to chart and download multiple data series for manipulation in your own internal models. You can also export data to Excel via the ICIS dashboard service.
ICIS launches Global Ammonia Markets General Methodology Consultation more >>
ICIS price assessments are based on information gathered from a wide cross-section of the market, comprising consumers, producers, traders and distributors from more than 250 reporters world-wide. Confirmed deals, verified by both buyer and seller, provide the foundation of our price assessments.
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Over 25 years of reporting on key chemicals markets, including Ammonia, has brought global recognition of our methodology as being unbiased, authoritative and rigorous in preserving our editorial integrity. Our global network of reporters in Houston, London, Singapore, Shanghai, Guangzhou, Mumbai, Perth and Moscow ensures unrivalled coverage of established and emerging markets.