Northwest Europe ammonia-to-hydrogen production costs fall close to 16-month low
The ICIS Northwest Europe ammonia-to-hydrogen assessment posted solid losses in the middle of February with muted demand for ammonia spot purchasing continuing to pull pricing lower with domestic European supplies boosted by firmer production.
The ammonia-to-hydrogen northwest Europe assessment fell by almost €0.40/kg week on week to €6.83/kg on 16 February, the lowest value since the second half of October 2021 and close to half the record-high value recorded in April 2022.
Natural gas-based hydrogen production methods also posted losses, but the drop in valuations was less pronounced, allowing for the discount that gas-based methods have shrunk as a result.
Both front-month based unabated SMR and low carbon ATR hydrogen production held discounts of €2.63-2.98/kg below imported ammonia-for-hydrogen.
AMMONIA MARKET
The ammonia market was said to be quiet during week 7 with some of the large buyers confirming that they are now fully covered through March.
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