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.
Updated to Q3 2021
Heading into H2 2021, all eyes are on Saudi titan Ma’aden as it battles to bring back online a 1.1m tonne/year unit at Ras Al-Khair, which was forced offline by a fire in late May. Amid talk of repairs taking until September, a restart date remained elusive in early July, but Ma’den’s shock decision to import material for the first time triggered concern among buyers as it removed valuable spot tonnes from the market.
Until the Ma’aden plant restarts, customers of the Saudi major in India and China will either have to source material from elsewhere in a highly competitive spot market, or reduce consumption if downstream market conditions allow. Spot demand in general has firmed as illustrated by the notable uptick in spot cargoes sourced from the Americas and the Black Sea, as well as Australia. Scheduled shutdowns in southeast Asia in Q3 will create further demand pressure.
The summer months are usually when leading producers perform scheduled turnarounds at ammonia and fertilizer and chemicals plants, but the maintenance programmes at some manufacturers have been disrupted by COVID-19 and government measures to limit the virus’ spread. Although the picture is unclear, no major announcements concerning scheduled capacity cuts have been heard to date, with any fall in supply likely offset by a similar drop in demand from industrial users during downstream plants’ turnarounds.
Apart from the usual seasonal fall in demand during scheduled maintenance, interest in cargoes should remain relatively unchanged from the first half of the year. Producers have been busy selling spot cargoes at favourable prices to buyers in India and northeast Asia in recent weeks, meaning if regional buyers joined the hunt for non-contract volume, they would need to pay a substantial premium to see off competition from buyers located in Asia-Pacific.
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).
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.
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