Muted ammonia activity but price declines near

摘要

Ammonia activity remains relatively muted with most spot activity concluded this week under formula pricing arrangements. The imposition of US sanctions on Iran last week has so far failed to arrest the slump in prices with market participants expecting major benchmarks to fall further on ample supply in November. Black Sea producers are not overwhelmingly optimistic of shoring up prices at current indications of $320- 330/t FOB given lacklustre demand towards year-end. Ameropa did manage to sell 7,000 t into Senegal at the high end price, but concedes future deals into Turkey for buyers such as Petkim and Igsas may be concluded at substantially lower levels.