A difference in market sentiment is beginning to emerge between the east and west of Suez, with greater spot availability emerging in the latter. Prices have not yet moved in response but are expected to come under pressure in the coming weeks. News that Nutrien’s two Trinidad ammonia plants have restarted following maintenance in Q4, as well as OCI Beaumont’s ammonia facility, follow rumours in recent weeks of supply tightness. Yara has even directed two Trinidad cargoes to Europe outside of regular commitments.
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