US Tampa: Supply tightness expected to support prices

摘要

The Tampa February ammonia settlement reached its highest point since October 2018 at $330/t CFR. The benchmark price has moved up for seven months in a row and expectations are for the upward trend to continue in the short term. Ammonia prices have been supported by strong industrial and fertilizer demand, while various production outages domestically and globally have led to tightness in global ammonia markets. Including Yara’s 495,000 t/y Tringen 2 ammonia unit in Trinidad, was recently added to the list of plants not operating.