Prolonged Price Escalation for Ammonia Is Over For Saudi Arabia, Prices Are Showing Marginal Ease In The Country
Ammonia prices are falling in Saudi Arabia and other parts of the world, reducing fertiliser cost pressures, and providing relief to farmers preparing for spring planting. Aside from continued applications in the Middle East, Ammonia pricing remained mostly on a downward trajectory in the late January. In January, there was not enough domestic fertiliser activity to report, as barge trade and terminal buying remained quiet. As per the ChemAnalyst database, On the 28th of January, FOB Jebel Ali Ammonia prices were reported at USD970/MT, a decrease of 2% week-over-week in Saudi Arabia. The fact that European natural gas prices were half of what they were at the most recent market high early last month is helping to bring the prices to a certain low level. In January, the price gap between relatively cheap prices in the Middle East and higher prices elsewhere in the world remained large enough to make exports commercially viable. The decline in price trends was caused by aggressiv...