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Updated to Q3 2017
Scheduled and unscheduled shutdowns at ammonia plants in southeast Asia restricted spot availability during the latter half of the third quarter, while a shortage of spot material from Saudi Arabia was reflected in higher FOB (free on board) prices in the Arabian Gulf. Traders who would normally load in the Middle East or Malaysia/Indonesia were instead forced to look farther afield, such as the US or Australia, with the supply squeeze seen in higher contract prices in South Korea and Taiwan.
Against a backdrop of rising international ammonia prices and a focus on long-term supply deals for 2018, little spot business was concluded by major buyers in Taiwan or South Korea. Namhae and LFC started talks with multiple producers as they look to secure a combined 1.0m tonnes for arrival next year, but in the near term, no major spot sales were witnessed. Strong spot demand was seen in China, with Mitsui, Koch and Yara all concluding sales to different buyers.
Updated to Q3 2017
The unplanned shutdown of the ammonia export unit at Algeria’s Sorfert lasted the whole of the third quarter, with few ammonia cargoes loading at Arzew. Little spot business was seen in the Baltic as producers focused on higher priced sales into the Russian market. Yuzhny prices hovered around $190/tonne FOB (free on board) for most of the 13 weeks, with only Ameropa and Rossosh loading tonnes due to the shutdown at Ukraine’s OPZ.
Few spot deals were seen in northern or southern Europe due to the late summer lull in downstream markets. BASF and EuroChem received regular contract volumes at Antwerp from PCS and Ameropa, respectively, with talk that one of the buyers had also agreed a supply deal with CF Industries in the US. Ameropa agreed on several spot deals in Turkey for Russian material, and delivered cargoes to Jordan on behalf of Muntajat under CFR (cost & freight) sales.
Updated to Q2 2015
The domestic ammonium phosphate market received support from the export market from April to June, as the low demand season continued.
Export demand offset the end of the domestic demand season in April, which tempered the fall in domestic prices. In May, large-volume export orders pushed up granular monoammonium phosphate (MAP) export prices from $355/tonne FOB to above $370/tonne FOB. Selling ideas for large and medium-sized diammonium phosphate (DAP) producers firmed at $465/tonne FOB. In addition, the cancellation of favourable electricity prices for fertilizer producers lifted production costs, which gave the incentive for ammonium phosphate producers to firm their prices. However, from mid-to-late June, limited new orders for DAP slightly pulled down discussion levels. Export prices of some small and medium-sized DAP producers were no higher than $465/tonne FOB. Domestic MAP prices were largely stable on modest demand from the compound fertilizer producers as the autumn purchase season arrived earlier.
Supply tightened slightly as many ammonium phosphate producers conducted maintenance in April-May and this also supported the domestic market. The next turnaround season will arrive in October-November before the peak winter buying period.
At the end of June, most ammonium phosphate producers said that the market would unlikely regain steam in the near term. However, most of them have received enough orders for production until the end of July to prepare for the autumn buying starting from mid-August. Hence, they are mostly expecting prices to remain largely flat, with little downside potential.
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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