The ammonia market remains relatively flat although tight supply prevails, maintaining upwards pressure on prices. Activity is still largely driven by traders seeking to cover contract commitments with little change in market dynamics expected through April. Muntajat, perennially short of cargo and unable at present to conduct swaps with Sabic due to tight regional supply, has now secured cover against its contract business. Ameropa’s Gas Grouper will load 23,000 mt in Yuzhnyy mid-April bound for Aqaba, Jordan under a formula pricing arrangement, while Trammo will supply an ammonia parcel to Muntajat’s contract customer in Richard’s Bay early May. The pricing mechanism in the latter deal was not disclosed.
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