A slight firming in ammonia prices is noted on a perceived tightening of supply east and west of Suez. Future price direction remains unclear and a number of market participants are holding off from concluding deals in the meantime. In anticipation of further purchases by Koch in the Black Sea and Baltic for July lifting, Yara has sought cover for 20,000 mt from several Baltic suppliers at an even $400/mt FOB, up $10/mt on the previous index. This was in response to a recent ammonia plant fire at Yara’s Brunsbuttel facility in Germany which affected its own supply chain. The impact of the fire remains unclear.
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