There were some early indications the ammonia market east of Suez may be turning a corner this week, although west of Suez prices were again assessed lower. Ample supply is still weighing on prices and the market may require additional production curtailments in order to arrest further price declines. Qafco brought its Ammonia 4 plant back online in Qatar after a week’s shutdown and some market participants speculated that TogliattiAzot may soon be motivated to shut one of its six ammonia lines, all of which are currently back up and running. There is still no news on Rossosh turnaround plans.
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