Ammonia participants remain keenly aware of the soft undertone that prevails across the market with limited spot demand meeting pockets of ample supply. Suppliers are braced for additional price declines in coming weeks with fears over the spread of Covid-19 keeping a lid on activity. Concerns over Indian offtake in April have eased slightly on news that the handful of Indian ports that declared force majeure last week are on the whole not dealing with ammonia. Additionally major ammonia buyers report that most fertilizer plants are now returning to production, albeit not necessarily at full rates, guaranteeing a base level of demand.
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