New quantitatively-assessed forwards build on the existing editorially-assessed 3-month forwards
SINGAPORE/ LONDON/ NEW YORK (September 15, 2022)– S&P Global Commodity Insights™, the leading independent provider of information, analysis and benchmark prices for the commodities and energy markets, is expanding global Platts Forward Curves for conventional ("gray) ammonia to 24 months, effective September 16, 2022, further enhancing Platts Ammonia benchmark offerings across the global market.
"This launch follows market engagement and responds to increased interest for longer-term ammonia price trends, amid market volatility and this year's historically high ammonia spot prices," said Mario Perez, Managing Editor, Hydrogen Pricing, S&P Global Commodity Insights. "The interest in and importance of ammonia is increasing by the day. Ammonia is expected to move quickly into the energy transition space as fuel for power generation and as bunker fuel."
The new, expanded forward curves for ammonia are built on the existing near-term Platts Ammonia Forward Curves for conventional ("gray) ammonia free-on-board (FOB) Middle East and on a cost, insurance and freight (CFR) basis for Northwest Europe and US Gulf Coast, which were launched April 26, 2022. Prompt months in the forward curve are assessed by the Platts editorial team, based on market data, prevailing price information, historical price spreads and trend analysis.
Platts is adding months four through 24 of new quantitatively-driven forward assessments to FOB Middle East, CFR Northwest Europe and CFR US Gulf. It is also launching a new set of months one to 24 of quantitative forward assessments for CFR Far East Asia, all effective September 16th.
More details may be found here: (https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/071922-s-p-global-commodity-insights-to-publish-ammonia-quantitative-forward-curves-out-to-month-24)
Earlier this year, on April 26, 2022, S&P Global Commodity Insights began publishing a daily Platts forward curve for three months forward for conventional ("gray) ammonia. The new forward curves add to the Platts ammonia price assessments, which already include gray anhydrous ammonia cargoes begun in October 2021 and low-carbon ("blue") ammonia price valuations, which Platts launched April 22, 2022.
Understanding the forward price of ammonia could bring additional confidence over time in price risk strategies such as hedging, as well as investing in ammonia production facilities. Increased confidence could boost liquidity and promote international trade, including exchange settlement transactions.
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