S&P Global Commodity Insights launches new ammonia forward curves

Based on customer feedback and market demand for increased pricing transparency, S&P Global Commodity Insights has launched a suite of global ammonia forward assessments, effective April 26.

Ammonia is already a globally traded commodity, largely used in the fertilizer and industrial sector. It is expected to become an essential part of the Energy Transition with the potential to expand in to use as a bunker fuel, the power market and as an energy carrier for hydrogen.

As decarbonization of the energy markets continues to unfold, pricing transparency becomes increasingly important. From April 26, S&P Global has introduced a suite of forward curve price assessments for the US Gulf Coast, Middle East and NW Europe.

The S&P Global new assessments account for conventionally produced ammonia for delivery up to three forward months.

Prices are based on information sourced from the market and where appropriate prices may be adjusted to reflect seasonality between ammonia and its feedstocks, including natural gas.

Other factors, reflecting market sentiment in the broader commodity markets will are considered.

The forward curve assesses prices for month-ahead, month-ahead +1 and month-ahead +2. The regions covered include the USGC, Middle East and NW Europe.

Additional forward assessments will be considered as markets evolve over time.

The assessments will be in US dollar, and published in both metric ton (mt) and Metric Million British Thermal Unit (MMBtu) on Market Data Category AMO, within ET market data, and on Platts Dimensions Pro.

The assessments are cash prices, net of any credit.

S&P Global may use information with longer credit terms after normalization. Regarding the quality specifications, assessments will take into consideration cargoes with a minimum purity of 99.5% of anhydrous ammonia by weight, a maximum water content of 0.5% by weight, and a maximum oil content of 10 ppm by weight.

Daily assessments basis FOB Middle East are based on the latest information sourced from the market up to the close of the assessment window at 4:30 pm Singapore time. Daily assessment basis CFR Northwest Europe are based on latest information sourced from the market up to the close of the assessment window at 4:30 pm London time. Daily premium assessments for the CFR USGC are based on latest information sourced from the market up to the close of the assessment window at 1:30 pm Houston time.

The following symbols have been created:

Ammonia CFR Northwest Europe $/MMBtu Mo01 AMMPS00

Ammonia CFR Northwest Europe $/MMBtu Mo01 MAvg AMMPS03

Ammonia CFR Northwest Europe $/MMBtu Mo02 AMMPU00

Ammonia CFR Northwest Europe $/MMBtu Mo02 MAvg AMMPU03

Ammonia CFR Northwest Europe $/MMBtu Mo03 AMMPW00

Ammonia CFR Northwest Europe $/MMBtu Mo03 MAvg AMMPW03

Ammonia CFR Northwest Europe $/mt Mo01 AMMPT00

Ammonia CFR Northwest Europe $/mt Mo01 MAvg AMMPT03

Ammonia CFR Northwest Europe $/mt Mo02 AMMPV00

Ammonia CFR Northwest Europe $/mt Mo02 MAvg AMMPV03

Ammonia CFR Northwest Europe $/mt Mo03 AMMPX00

Ammonia CFR Northwest Europe $/mt Mo03 MAvg AMMPX03

Ammonia CFR USGC $/MMBtu Mo01 AMMPE00

Ammonia CFR USGC $/MMBtu Mo01 MAvg AMMPE03

Ammonia CFR USGC $/MMBtu Mo02 AMMPG00

Ammonia CFR USGC $/MMBtu Mo02 MAvg AMMPG03

Ammonia CFR USGC $/MMBtu Mo03 AMMPI00

Ammonia CFR USGC $/MMBtu Mo03 MAvg AMMPI03

Ammonia CFR USGC $/mt Mo01 AMMPF00

Ammonia CFR USGC $/mt Mo01 MAvg AMMPF03

Ammonia CFR USGC $/mt Mo02 AMMPH00

Ammonia CFR USGC $/mt Mo02 MAvg AMMPH03

Ammonia CFR USGC $/mt Mo03 AMMPJ00

Ammonia CFR USGC $/mt Mo03 MAvg AMMPJ03

Ammonia FOB Middle East $/MMBtu Mo01 AMMQG00

Ammonia FOB Middle East $/MMBtu Mo01 MAvg AMMQG03

Ammonia FOB Middle East $/MMBtu Mo02 AMMQI00

Ammonia FOB Middle East $/MMBtu Mo02 MAvg AMMQI03

Ammonia FOB Middle East $/MMBtu Mo03 AMMQK00

Ammonia FOB Middle East $/MMBtu Mo03 MAvg AMMQK03

Ammonia FOB Middle East $/mt Mo01 AMMQH00

Ammonia FOB Middle East $/mt Mo01 MAvg AMMQH03

Ammonia FOB Middle East $/mt Mo02 AMMQJ00

Ammonia FOB Middle East $/mt Mo02 MAvg AMMQJ03

Ammonia FOB Middle East $/mt Mo03 AMMQL00

Ammonia FOB Middle East $/mt Mo03 MAvg AMMQL03

Please send all questions and comments to hydrogenassessments@spglobal.com and pricegroup@spglobal.com. For written comments, please provide a clear indication if comments are not intended for publication by S&P Global for public viewing. S&P Global will consider all comments received and will make comments not marked as confidential available upon request.