An improved supply-demand balance is noted in the ammonia market, resulting in few price movements. Tightness in supply east and west of Suez has in recent weeks prompted a slow but steady firming in values, but reports of additional availability west of Suez this week have released some of the upward pressure on global prices. Seeking to take advantage of alternative supply sources to the Black Sea, Trammo managed to secure 10,000 mt from Abu Qir this week at an undisclosed price for second half April lifting. Borealis meanwhile is likely to have another 10,000 mt available for prompt lifting following ongoing downstream production issues, and OCI is understood to have approached at least one trader to gauge purchasing interest in a prompt cargo to load from the OCI system.
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