Platts, part of S&P Global Commodity Insights, has updated the specifications of six nitrates fertilizer assessments, effective July 3.
Platts narrowed 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.
This decision followed a proposal note published May 7 here . A decision note outlining the new specifications was published May 23 here.
As part of this move toward greater specificity, Platts launched a single number "close" value for each assessment and standardized the high and low assessments to a range of Eur1/mt or $1/mt or GBP1/mt both sides of the "close" value, depending on the currency used in the assessment.
The changes to the six nitrates assessments are outlined in the table below:
| Assessment Name and Symbol | Previous Specifications | New Specifications |
| AN UK 34.5% N granular bagged delivered farm (GBP/mt) FANGA04 | - Quality: 34.5% N ammonium nitrate
- Quantity: N/A
- Basis and location: UK production; bagged delivered farm basis in the UK
- Timing: Product to be shipped up to 30 days forward
- Assessment Type: High, Low Price- Range
| - Quality: 34.5% N ammonium nitrate
- Quantity: 25 mt
- Basis and location: Origin free; CPT (bagged delivered farm) basis in the UK
- Timing: Product delivered 14-35 days forward
- Assessment Type: High, Low, Close Price
|
| AN France 33.5% N granular bulk delivered (Eur/mt) FANGB04 | - Quality: 33.5% N ammonium nitrate
- Quantity: N/A
- Basis and location: French production, bulk delivered basis in France
- Timing: Product to be shipped up to 30 days forward
- Assessment Type: High, Low Price- Range
| - Quality: 33.5% N ammonium nitrate
- Quantity: 30 mt
- Basis and location: French origin, CPT (bulk delivered) basis in France
- Timing: Product delivered 14-35 days forward
- Assessment Type: High, Low, Close Price
|
| CAN Germany 27% N CIF inland dom/imp (Eur/mt) FCANI04 | - Quality: 27% N CAN
- Quantity: N/A
- Basis and location: volumes that are shipped into the domestic market on a CIF inland basis
- Timing: Product to be shipped up to 30 days forward
- Assessment Type: High, Low Price- Range
| - Quality: 27% N CAN
- Quantity: 800-1,500 mt
- Basis and location: Western and southern Germany, basis Rheinland-Pfaltz
- Timing: Product delivered 14-35 days forward
- Assessment Type: High, Low, Close Price
|
| AS NW Europe FOB standard caprolactam grade ($/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
- Assessment Type: High, Low Price- Range
| - 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
- Assessment Type: High, Low, Close Price
|
| 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
- Assessment Type: High, Low Price- Range
| - 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
- Assessment Type: High, Low, Close Price
|
| 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
- Assessment Type: High, Low Price- Range
| - Quality: 32% N UAN Solution
- Quantity: Minimum 30 mt
- Basis and location: FCA Rouen, France
- Timing: Product loading 14-35 days forward
- Assessment Type: High, Low, Close Price
|
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.
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