Platts proposes to adjust and align FOB Black Sea ammonia assessments June 27

Platts, part of S&P Global Commodity Insights, is proposing to adjust and align the specifications of its daily and weekly FOB Black Sea ammonia assessments, effective June 27, 2025.

Under the proposal, Platts would remove the contract component of its weekly FOB Black Sea (FABAC04) price. The specifications of the daily (FAMBC00) and weekly FOB Black Sea ammonia assessments would also be adjusted and aligned, allowing Platts to standardize the relationship between the assessments.

The proposed specifications are detailed below:

Assessment Name: Ammonia FOB Black Sea - daily

Quality: Anhydrous ammonia, which is around 82% nitrogen and is stored and transported as a liquid under pressure at around minus 33 degrees Celsius, with no restrictions on carbon intensity

Quantity: 15,000 mt

Basis and location: Spot. Basis locationTaman, Russia

Timing: Loading one to six weeks forward

Frequency: Daily

Appears in: Platts Fertecon Daily

Unit of assessment: US dollar per metric ton ($/mt)

Timestamp: 16:30 London close, published according to the London publishing calendar

Assessment Name: Ammonia FOB Black Sea - weekly

Quality: Anhydrous ammonia, which is around 82% nitrogen and is stored and transported as a liquid under pressure at around minus 33 degrees Celsius, with no restrictions on carbon intensity

Quantity: 15,000 mt

Basis and location: Spot. Basis location Taman, Russia.

Timing: Loading one to six weeks forward

Frequency: Weekly

Appears in: Ammonia Market Report

Unit of assessment: US dollar per metric ton ($/mt)

Timestamp: 16:30 London close, published according to the London publishing calendar

In addition, Platts would also standardize the relationship between the daily and weekly FOB Black Sea assessments.

The weekly FOB Black Sea ammonia assessment is currently assessed as a range with a low and high value. Under this proposal, the weekly range would now only be derived from the lowest and highest of the daily FOB Black Sea ammonia assessments published over the course of the preceding trading week (Friday to Thursday), rather than being assessed in its own right. No fresh market information would be taken into account for the weekly assessment.

Platts also proposes to launch a third "close" value for the weekly FOB Black Sea assessment, reflecting market value at 16:30 London time on Thursdays, mirroring that day's daily assessment. It would appear in the Ammonia Market Report PDF each Thursday and be available via Platts Connect alongside the adjusted low-high weekly range FOB Black Sea ammonia assessment. The adjusted daily FOB Black Sea ammonia assessment would appear in the Platts Fertecon Daily PDF and be available via Platts Connect.

Please send any feedback, questions and comments to fertilizer@spglobal.com and pricegroup@spglobal.com by May 26, 2025.

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing.

Platts will consider all comments received and will make comments not marked as confidential available upon request.