Ammonia Prices in the International Market Inch Up
In the international market, ammonia at the Black Sea, Ukraine, inched up to $275 per metric ton FOB, a rise of 1.9% from the previous week.
In the week ended April 15, 2016, ammonia prices at Tampa CFR (cost and freight) continued to move sideways for the 12th straight week. Companies that sell ammonia as a product to the market (NANR) include Terra Nitrogen (TNH), CF Industries Holdings (CF), CVR Partners (UAN), and PotashCorp (POT).
During the week ended April 15, 2016, the average CFR spot prices for ammonia at Port Tampa Bay remained unchanged from the previous week at $310 per metric ton. Year-over-year, ammonia prices remain significantly down by as much as ~56% from $485 per metric ton since the corresponding week last year.
Ammonia prices for the week ended April 15 at US Gulf NOLA (New Orleans) also moved sideways at $315 CFR per metric ton, unchanged from the previous week. However, prices in the Cornbelt fell by 1.7% to $550 FOB (free on board) per short ton, or $498 per metric ton.
In the international market, ammonia at the Black Sea, Ukraine, inched up to $275 per metric ton FOB, a rise of 1.9% from the previous week. In Western Europe, ammonia prices stood at $335 per metric ton CFR, up by 1.5% from the previous week. Prices in the Middle East stood at $355 per metric ton FOB, which remained unchanged from the previous week.
For the week, overall prices in the international market inched up at the Black Sea and in Western Europe while they declined in the Cornbelt region. Prices remained unchanged at other points.
Because most ammonia is converted into urea, we’ll look at urea price trends in more detail in the next part of this series.