Ammonia Prices, markets & analysis
ICIS price reporting for regional Ammonia markets is unparalleled in its ability to keep you on top of the information you need.
Our network of price reporters delivers direct and regular insights into the local markets they work in.
That means you can track fluctuations and developments as they happen and gain a clear understanding of the factors driving prices.
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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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The latest quarter in the Asian ammonia market has been characterised by low downstream demand, causing high inventories in some regions, while turnarounds created low inventories in other areas.
During the early parts of the quarter, demand was reasonable with normal contract shipments occurring and regular spot trades.
However, weak demand in related urea and diammonium phosphate (DAP) markets flowed through to the ammonia market, with many delaying contract shipments as the quarter progressed.
The PETRONAS plant at Kertheh, Malaysia, had a turnaround during much of October, along with Capro Corp in South Korea and the CSBP plant at Kwinana in Australia. Meanwhile, the Kaltim Parna Industry (KPI) plant in Indonesia was not operational for much of the quarter due to high manufacturing costs and low ammonia prices.
Prices were steady through August with a number of spot trades taking place. Early September saw increases of $25/tonne in line with higher values out of Baltic and the Middle East and to reflect higher contract values from South Korea. By late October, values continued to rise, adding $5/tonne to prices following contract negotiations and participants’ anticipation of the new season.
Updated to mid-November 2013
The benchmark Black Sea ammonia price bounced back during the third quarter to reach a high of $450/tonne FOB Yuzhny before quickly returning to a downward trajectory amid weak demand from the US and the Far East.
Prices fell to $375/tonne FOB for November shipments as NF Trading was left long following a decision by regular buyers Koch and Yara to source a combined 75,000 tonnes from suppliers in the Baltic instead.
These purchases, at an average price of $425/tonne FOB, meant NF Trading was forced to drastically revise its price target of $450/tonne FOB in order to secure sales, with Transammonia understood to have acquired 15,000 tonnes at $375/tonne and the same volume at $395/tonne FOB.
In mid-November, NF Trading had yet to restart its Ukrainian ammonia units ahead of the harsh winter as it squeezed supply to force a floor to prices and increase profit margins.
While demand for Arabian Gulf cargoes remains strong due to India’s thirst for ammonia, weak demand from Asia and the US undermined higher prices, particularly given Sorfert Algeria’s start-up has increased availability.
Updated to mid-November 2013
EXW prices for 55% powdered MAP rose from CNY1,800/tonne to CNY1,850/tonne from mid-August to September but fell back to CNY1,800/tonne in October and then stayed at the level in November.
The price increase for MAP from mid-August to September was mainly because of increased demand following the start of the autumn production season of compound fertilizers. However, from October, weakened demand after the autumn application ended dragged down MAP EXW prices by CNY50/tonne to CNY1,800/tonne.
Although the winter buying season arrived in November, MAP EXW prices remained largely flat at CNY1,800/tonne as low operating rates at compound fertilizer plants dampened demand for MAP.
EXW prices for 64% DAP fell from CNY2,500/tonne to CNY2,250/tonne from mid-August to the end of September and dropped further to CNY2,200/tonne in November.
The autumn buying season came after mid-August. However, DAP inventories piled up at domestic ports due to slow demand from India amid the bearish export conditions. Export prices dropped sharply as a result, undermining domestic distributors’ confidence in the market. Their cautious buying dragged down DAP EXW prices.
Demand for autumn application came to an end in October and the low export tax window was also closed. However, limited profits and increased prices for feedstock only led to slight declines in DAP EXW prices in November.
Updated to mid-November 2013
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 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.
Our in-depth market knowledge drives our specialist focus, as we recognise the importance of individual market dynamics and not a one-size-fits-all approach.
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.