Oversupplied ammonia market but prices stable for now

摘要

Virtually all ammonia participants now agree the market is oversupplied but few new deals means prices are barely moving. Little change is expected in coming weeks with prices to remain under downwards pressure. Pockets of supply continue to be noted in Trinidad and the US after a below average fall direct application season. Trammo bought 23,000 t ammonia from Simplot this week under a formula pricing arrangement for late February lifting while an undisclosed Trinidad supplier loaded a full cargo on the Kallo with the vessel rumoured heading east of Suez.