ICIS price reporting for regional Ammonia markets is unparalleled in its ability to keep you on top of the information you need.
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Updated to Q3 2018
The pattern of rising ammonia prices included India and Asia Pacific, as prices rose around 20% during the third quarter due to major plant shutdowns in regions that included the Middle East and Australia. Compounding the supply squeeze was the delayed commissioning and technical problems at the new PAU plant in Indonesia that forced offtake partner Mitsubishi into the spot market. The delayed restart of the Yara Pilbara plant in Australia meant the Norwegian group bought spot volume and agreed to swaps.
Demand for spot cargoes remained steady in India, Korea, Taiwan, and China, with FACT India issuing its regular purchase tenders, and Namhae receiving Russian material from Ameropa in September under a formula-priced deal. Due to the bullish conditions, spot buyers only bought when absolutely necessary, as a shortage of material meant such cargoes attracted hefty premiums. Demand from Chinese users for imported ammonia fell quarter on quarter to average around 50,000 tonnes/month, versus 90,000 tonnes/month during the second quarter.
The benchmark Yuzhny FOB price for ammonia jumped by around $100/tonne during the third quarter as suppliers took advantage of a global supply squeeze triggered by plant shutdowns (some planned, some unplanned) around the world. Ameropa sold spot CFR cargoes to buyers in Turkey and South Korea, while OCI was highly active in the spot market as rising natural gas costs prompted the Dutch group to keep one of its units at Geleen off line, with volumes replaced by imported material.
No major change in demand from European spot buyers of ammonia was witnessed during the July to September period, with the usual flow of contract cargoes from Yuzhny to the Black Sea, north Africa, northwest Europe, and India. OCI was active in the Baltic and Algeria as it favoured imported material over own-made volume due to rising natural gas costs. In addition to deliveries to Rotterdam, contracted tonnes also arrived at Antwerp for the likes of EuroChem, BASF, and Lanxess.
We offer the following regional Ammonia analysis and news coverage to keep you informed of factors and developments affecting prices in the Asia & Europe Ammonia marketplace.
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Ammonia is one of the main sources of nitrogen in fertilisers, as it contains 82% of nitrogen (N), which is essential for the life of plants. Ammonia (NH3) is produced through a chemical reaction (electrolysis).
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