Tampa ammonia jumps $95/t for November in key Yara-Mosaic settlement

The Tampa ammonia contract for November rose $95 per tonne from October, after supplier Yara and buyer Mosaic settled the monthly U.S. benchmark on October 28, Quantum Commodity Intelligence reported.

The increase reverses a small downward correction in October. The September contract had already fallen to $555/t CFR, its lowest monthly settlement in a year, after the spring spike that took Tampa to $825/t CFR in May.

The November settlement landed as European feedstock costs hit fresh highs. The TTF gas benchmark traded above €100/MWh on October 28 for the first time since December 2022. Quantum also reported firmer ammonia prices on the Tampa contract and a tighter market east of Suez, where Middle East supply remains disrupted by the Strait of Hormuz closure.

The ammonia market had softened over the summer partly because phosphate producers bought less. Producers such as Mosaic have curtailed output as sulfur prices above $1,000/t squeezed MAP and DAP margins, cutting ammonia demand. U.S. producer LSB Industries said on October 28 that ammonia prices had moderated from first-half highs for that reason, though they remain above historical averages. LSB put the Q3 2026 average Tampa benchmark at $622 per ton, up 27% year on year.

The Tampa contract is the main price reference for ammonia delivered into the U.S. Gulf and Florida and guides spot negotiations across the Atlantic basin. Buyers will watch whether Europe’s gas spike forces new plant curtailments before the December settlement.

Source: Quantum Commodity Intelligence