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Global ammonia prices stayed weak as demand remained sluggish on both sides of the Suez Canal. The Tampa contract fell $55/t month-on-month to $380/t, and a spot sale into Northwest Europe at $425/t was seen as an outlier.
Weak ammonia demand and a falling Tampa benchmark point to lower nitrogen fertilizer costs. The premium spot sale is not seen as a sign of a broader recovery.
profercy.comChris YearsleyApr 28, 2023Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
