Fears of a double dip in ammonia values west of Suez

摘要

A marginal uptick in spot activity is noted west of Suez but not enough to edge prices upwards. If anything, Black Sea values remain under considerable downwards pressure owing to ample supply and weak demand. Fears of a double dip in Yuzhnny values are a real concern expressed by several suppliers. OCP is already claiming procurement of Black Sea tonnage at netbacks on recent concluded business below $390/mt FOB although this has been refuted by producers and traders in the region.