For the Quarter Ending June 2021
North American market witnessed firm demand for Ammonium Nitrate during this quarter. A major manufacturer of USA revealed about the stable offtakes from the domestic fertilizers market during the month of May, as the climate condition became suitable for farming. In addition, soaring Ammonia prices amid firm demand from different verticals like DAP and Urea also impacted the prices of Ammonium Nitrate during this timeframe. Besides, fluctuating natural gas prices also influenced the prices of different fertilizers including Ammonium Nitrate in USA.
Asian market faced firm sentiments for Ammonium Nitrate during this quarter from the domestic market, backed by significant offtakes from the end use segments. In India, demand for Ammonium Nitrate remained consistently firm throughout the quarter, while prices of feedstock Ammonia rose effectively due to high demand and inadequate availability. While in China, prices remained consistently firm in the domestic market, as the seasonal demand was approaching in the country. However soaring feedstock Ammonia prices also influenced the prices of Ammonium Nitrate in the country during this timeframe.
European market experienced firm demand for Ammonium Nitrate during this quarter. Amidst the firm demand from the downstream sector several other fertilizers also rose effectively. A major producer Yara announced their new seasonal prices for Europe. The company surprisingly offered Ammonium Nitrate on a comparatively lower prices than the ones offered previously.
For the Quarter Ending March 2021
North American market faced acute shortage of Ammonium Nitrate across the region during Q1 2021. After the winter storm Uri stroke US Gulf Coast in February, the availability of feedstock chemicals Ammonia and Nitric Acid reduced affectively due to curtailed production activities. However, the demand for fertilizers remained suspended for more than a month, as snow and frequent rains reduced the farming activities during the time period. This demand effectively improved in March and overall prices of Ammonium Nitrate showcased improvement by more than 20% within the quarter across Nebraska farms.
Asian countries encountered firm demand for Ammonium Nitrate fertilizerfrom domestic agriculture sector during the quarter ending March. With the arrival of crop season Zaid in India, and with uplifted sentiments after sufficiently good crop in the prior quarter, demand for Ammonium Nitrate in the Indian market improved effectively. Indian imports witnessed an increase on y-o-y basis during Q1 2021. Meanwhile in Chinese market similar scenario was observed where the seasonal demand remained consistently firm.
Arrival of Spring season escalated the market sentiments of Europe, where the demand remained substantially high throughout the quarter. However, unfavourable climate condition in some areas halted the agricultural activity for some weeks, which later recovered efficiently. Thus, the prices rose affectively in Europe for almost all the fertilisers including Ammonium Nitrate especially from UAN fertilisers segment, whose demand was observed higher than many other alternatives.