Platts, part of S&P Global Commodity Insights, proposes to change the specifications of six nitrates fertilizer assessments, effective July 3.
Platts is proposing to narrow specifications such as quantity, basis and location for six European nitrate fertilizer assessments, to better reflect changes in trade flows, in response to extensive market feedback.
As part of this move toward greater specificity, Platts would also launch a single number "close" value for each assessment and standardize the high and low assessments to a range of Eur1/mt or $1/mt or GBP1/mt both sides of the "close" value, depending on the currency used in the assessment.
The proposed changes to the six nitrates assessments are outlined in the table below:
| Assessment Name and Symbol | Current Specifications | Proposed Specifications |
| AN UK 34.5% N granular bagged delivered farm (GBP/mt) FANGA04 | - Quality: 34.5% N ammonium nitrate
- Quantity: N/A
- Basis and location: UK production; bagged delivered farm basis in the UK
- Timing: Product to be shipped up to 30 days forward
| - Quality: 34.5% N ammonium nitrate
- Quantity: 25 mt
- Basis and location: Origin free; CPT (bagged delivered farm) basis in the UK
- Timing: Product delivered 14-35 days forward
|
| AN France 33.5% N granular bulk delivered (Eur/mt) FANGB04 | - Quality: 33.5% N ammonium nitrate
- Quantity: N/A
- Basis and location: French production, bulk delivered basis in France
- Timing: Product to be shipped up to 30 days forward
| - Quality: 33.5% N ammonium nitrate
- Quantity: 30 mt
- Basis and location: French origin, CPT (bulk delivered) basis in France
- Timing: Product delivered 14-35 days forward
|
| CAN Germany 27% N CIF inland dom/imp (Eur/mt) FCANI04 | - Quality: 27% N CAN
- Quantity: N/A
- Basis and location: volumes that are shipped into the domestic market on a CIF inland basis
- Timing: Product to be shipped up to 30 days forward
| - Quality: 27% N CAN
- Quantity: 800-1,500 mt
- Basis and location: Western and southern Germany, basis Rheinland-Pfaltz
- Timing: Product delivered 14-35 days forward
|
| AS NW Europe FOB standard caprolactam grade ($/mt) FASCA04 | - Quality: 21% N, standard grade ammonium sulphate
- Quantity: Minimum 3,000 mt
- Basis and location: Loading out of ports in Belgium, the Netherlands and Germany
- Timing: Product to be shipped up to 30 days forward
| - Quality: 21% N, standard grade ammonium sulphate
- Quantity: Minimum 1,000-4,000 mt
- Basis and location: FOB Antwerp
- Timing: Product loading 14-35 days forward
|
| AS Turkey CFR caprolactam duty unpaid excluding credit ($/mt) FASCC04 | - Quality: 21% N, standard grade ammonium sulphate
- Quantity: Minimum 3,000 mt
- Basis and location: All major Turkish ports The assessment is duty free and net of credit
- Timing: Product to be shipped up to 30 days forward
| - Quality: 21% N, standard grade ammonium sulphate
- Quantity: Minimum 5,000-11,000 mt
- Basis and location: CFR Iskenderun. The assessment is duty free and net of credit
- Timing: Product to be delivered up to 14-35 days forward
|
| UAN 30% FCA ex-tank Rouen FUANG04 | - Quality: 32% N UAN Solution
- Quantity: Minimum 500 mt
- Basis and location: Loading out of Rouen, France
- Timing: Product to be shipped up to 30 days forward
| - Quality: 32% N UAN Solution
- Quantity: Minimum 30 mt
- Basis and location: FCA Rouen, France
- Timing: Product loading 14-35 days forward
|
All the above assessments are assessed weekly, every Thursday and appear under respective symbols in the nitrogen fertilizer report and/or European fertilizer report, in Platts Connect and the Platts price database.
Please send any feedback, questions and comments to fertilizer@spglobal.com and pricegroup@spglobal.com by May 21.
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