Waypoint August Ammonia Market Update: 1
Published on
1 August 2024
Written by
Hugo Nankivell
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Chinese ammonia exports decreased by 76.6% in the first half of 2024 compared to the same period in 2023, Urea export has also been banned over this same period with the Chinese Government focusing on affordability for local farmers. Of these exports, 85% are destined for Vietnam.
Current ammonia prices in China are between $289 and $300 USD per metric ton (2700-2800 RMB), with prices trending downward.
In the United States, the August contract price for ammonia in Tampa has been set at $475 USD per metric ton CFR, an increase from the July price of $415 USD per metric ton.
There is considerable activity in the ammonia sector globally, with large-scale green and blue ammonia projects underway. Currently ammonia remains closely linked to natural gas prices. Ammonia is a key ingredient in producing several essential fertilisers. It serves as the primary feedstock for synthesising products like Calcium Ammonium Nitrate (CAN), Urea, Ammonium Sulphate (Amsul), Ammonium Sulphate Nitrate (ASN), Mono-Ammonium Phosphate (MAP), and Di-Ammonium Phosphate (DAP).
These fertilisers are crucial for providing nitrogen and phosphorus nutrients, which are vital for plant growth and agricultural productivity. The ongoing developments in ammonia production and pricing directly impact the availability and cost of these fertilisers worldwide.
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