Last week, the US domestic market (SPY) was broadly unchanged for ammonia prices. Companies that sell ammonia include Terra Nitrogen (TNH), CF Industries Holdings (CF), CVR Partners (UAN), and Agrium (AGU).
Ammonia prices for Tampa CFR (cost and freight) remained at $315 per metric ton. Prices for the US Gulf NOLA (New Orleans) CFR also stayed at $320 per metric ton. Prices in the Southern Plains also remained unchanged at $435 per short ton (or $394 per metric ton).
In contrast to the sideways movement at those two locations, prices inched down 3% in the Corn Belt at $453 per metric ton (or $500 per short ton).
Ammonia in the Black Sea region stood unchanged from the previous week at $280 per metric ton FOB (free on board). In Western Europe, ammonia prices stood at $340 per metric ton CFR, which was also flat. Prices in the Middle East stood at $330 per metric ton FOB, down from $355 per metric ton FOB compared to the previous week.
Ammonia is a feedstock to other nitrogen fertilizers such as urea and UAN (urea ammonium nitrate). So ammonia prices also act as a precursor to prices for other nitrogen fertilizers. Next, we’ll cover how urea prices moved last week.