Ammonia Prices, markets & analysis
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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Prices for ammonia in Asia started 2014 in the low $500s/tonne CFR (cost & freight) before dipping below the $500/tonne mark during February, when a number of spot cargoes became available and Iran was allowed to return to the export market.
Prices rebounded in March, tracking higher values in the US market and also as a result of the end of discounted Russian natural gas for Ukrainian producers that set the international benchmark.
Regular contract deliveries kept the market ticking throughout the first few weeks and once Lunar New Year celebrations had finished, more spot activity and tenders took place.
Downstream, a weak caprolactam (capro) market saw ammonia volumes decrease for some buyers and there was heavy maintenance schedule in capro and acrylonitrile (ACN) plants.
Better market conditions for suppliers prompted Indonesian producer Kaltim Parna Industri (KPI) to restart production at its Bontang plant after a mid-2013 shutdown. The producer then promptly sold several cargoes to international trader Transammonia (Trammo).
Towards the end of the quarter, Australia’s CSBP brought on line its new ammonium nitrate (AN) and nitric acid facility near Perth.
Updated to Q1 2014
The benchmark Black Sea ammonia price rose steadily during the first quarter before jumping sharply to $500/tonne FOB (free on board) in late March for April cargoes on an uptick in demand and concerns over the region’s tense geopolitical situation.
Entering 2014, prices stayed in the $416-440/tonne FOB Yuzhny range due to soft US demand and an oversupply situation in the Caribbean. The bearish tone continued into February when the Black Sea price slipped to $412/tonne FOB.
With Algerian ammonia availability restricted by export licence issues and a balanced supply/demand situation in the Arabian Gulf – despite the usual flow of cargoes moving to India, South Korea and Taiwan – little price pressure was seen.
However, tensions over the Crimea situation were compounded by Gazprom’s decision to terminate the 30% discount on gas deliveries to the Ukraine from early April. With speculation sanctions could squeeze supply, spooked buyers jostled for cargoes and decided to secure volumes, meaning prices quickly climbed from $40-50/tonne to $485-500/tonne FOB.
As a result, the Tampa price was settled by Yara at $580/tonne CFR (cost & freight) for April – up $120/tonne from March – in a move that restored the usual $75/tonne price difference between Yuzhny and Tampa.
Updated to Q1 2014
Boosted by rising feedstock sulphur prices from January, EXW (ex-works) prices for Chinese 55% powdered monoammonium phosphate (MAP) and 64% diammonium phosphate (DAP) rose from around yuan (CNY) 1,950/tonne and CNY2,300-2,400/tonne in early January to CNY1,950-2,050/tonne and CNY2,450-2,500/tonne in mid-to-late February respectively.
Sulphur prices fell subsequently, giving less support to MAP and DAP prices. In addition, domestic demand weakened as winter reservation came to an end. As a result, MAP and DAP prices declined to CNY1,930-1,950/tonne and CNY2,400-2,500/tonne respectively in late March.
Export prices of DAP rose in line with rising overseas prices, and discussion levels rose from around $400/tonne FOB (free on board) in early January to around $480/tonne FOB in early March. Exported cargoes were mainly the remaining DAP in the bonded warehouses from 2013. Indian buyers made enquiries at $450-460/tonne CFR (cost & freight) later, showing intentions to lower export discussion prices of Chinese cargoes. Consequently, the number of export orders decreased sharply.
The overall operating rate was at around 60% for domestic DAP plants, and around 55% for MAP plants, in line with weaker domestic demand.
Updated to Q1 2014
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.
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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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