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 Q1 2015
Ammonia prices in Far East Asia declined rapidly during January but flat lined in February and March.
Spot buying activity in the market increased in late January as buyers sought to benefit from the price drop. However, soft prices for downstream commodities and a string of maintenance events curbed buying somewhat.
As well as tracking price decreases in key markets in the Arabian Gulf and the US, a return to operation of the PT Kaltim Parna Industry (KPI) ammonia plant in Indonesia in early March added to the weaker sentiment of Asian ammonia prices.
Prices on a cost and freight (CFR) basis peaked at $610/tonne in Korean and Taiwan in early January and maintained a low of around $500-505/tonne CFR in late February through March.
Updated to Q1 2015
The benchmark Black Sea ammonia price fell roughly 10% – around $50/tonne – over the course of the first quarter as softening demand and oversupply saw deals struck at $450/tonne FOB Yuzhny for January loadings but closer to $395-405/tonne FOB for February and March cargoes.
Suppliers loaded slightly more than 200,000 tonnes in Yuzhny in January, climbing to 222,000 tonnes in February and 336,000 tonnes in March, with the increase in demand reflected in the downward price trend over the period.
Buyers were spoiled for choice during the quarter, with smaller spot cargoes acquired from Poland twice and the steady flow of Algerian cargoes satisfying demand requirements for the likes of European players such as Yara and Fertiberia, as well as Moroccan phosphate giant OCP.
Availability was also tight in the Baltic, with only Trammo lifting 23,400 tonnes during the 13-week period. However, Koch agreed a deal in March with multiple buyers for a 40,000-tonne cargo that was to load in Ventspils in Latvia, and possibly Sillamae in Estonia, in early April.
Updated to Q1 2015
Demand for monoammonium phosphate (MAP) and diammonium phosphate (DAP) for winter storage entered peak season in January-February 2015. Apart from orders signed at the end of 2014, producers also accepted new orders from northeast China, northwest China and east China. Additionally, the export tax window was cancelled and there was demand from South America and southeast Asia in January-February. As a result, selling ideas firmed amid tight supply and fewer low-priced cargoes were available. Prices were at CNY2,100-2,150/tonne EXW for 55% powdered MAP and at around CNY2,650/tonne EXW for 64% DAP. Export prices of DAP increased from $460-465/tonne FOB to $465-470/tonne FOB.
Demand weakened significantly in March. However, granular MAP and DAP prices remained high because producers were fulfilling previous orders and signed some export orders. Only powdered ammonium phosphate prices decreased slightly. Prices of 55% powdered MAP were at CNY2,030-2,060/tonne EXW. Selling ideas of DAP firmed at around CNY2,700/tonne EXW, with export prices at $470-475/tonne FOB.
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.
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.