The board of Yunnan Yuntianhua gave the go ahead for the development of a massive underground phosphate mine in Yunnan province on 14th May. The major Chinese producer part owns the mine project through a 35% stake in its developer Julin New Materials. The other three owners are Yuntianhua Group (55%), Zhaotong Development Group (9%) and Zhenxiong Chanyi Investment (1%).
Rail, road, ship or pipelines all bring different benefits and risks to long distance transport of ammonia, but the fundamentals of ammonia safety remain a constant.
The Ukraine war and associated tariffs and the EU’s carbon pricing system are keeping ammonium nitrate prices high.
Ammonia values have continued to ease across most regions at the end of June, as the first ammonia vessels begin to exit the Gulf since the Iranian conflict began. Iranian ammonia had also begun to flow to India following the US Treasury’s issuance of a 60-day sanctions waiver on 22 June, allowing dollar-denominated trade in Iranian petrochemical products through 21 August. As a result, Indian bids have been heard as low as $750/t c.fr, as buyers benefit from a widening pool of available supply - Iranian, Chinese and renewed Southeast Asian material are all competing for the same business.
• Ammonia prices are expected to maintain their current downward trajectory, with the pace of correction likely to accelerate as the supply picture improves. Confirmed trades at materially lower levels remain limited, but the direction of sentiment is clearly softer.
A round-up of current and proposed projects involving non-nitrogen synthesis gas derivatives, including methanol, synthetic/substitute natural gas (SNG) and gas- and coal to liquids (GTL/CTL) plants.
Petrobras PBR has said that it plans to restart construction of the long-delayed UFN-III fertilizer plant in Três Lagoas, Mato Grosso do Sul, with work at the site expected to resume by September. UFN-III, with a planned capacity of 2,200 t/d of ammonia and 3,600 t/d of urea, was partially completed in the 2010s, but the site has been inactive and unfinished since 2015. Petrobras now intends to complete the project with an estimated investment of $1 billion, targeting commercial operations by 2029. The site was chosen as it was strategically positioned near several of Brazil’s largest agribusiness regions, including Mato Grosso, Mato Grosso do Sul, Goiás, Paraná and São Paulo.
The government of Kazakhstan says that the country will build its first ammonia-urea plant at Aktau, in the Mangistau region, with a total investment cost put at $1.6 billion.The Kazakh Industry and Construction Ministry and KazAzot PRIME have signed an investment agreement for the construction of the complex, with commissioning scheduled for 2030. Plant capacity is expected to be 660,000 t/a of ammonia, 580,000 t/a of urea and 500,000 t/a of ammonium nitrate. The government says that the plant will reduce import dependence, supply domestic farmers, and strengthen export potential. By 2030, Kazakhstan’s ammonia production capacity is projected to reach 2.3 million t/a, ensuring self-sufficiency and export growth.
On May 23, a drone attack was reportedly carried out on the Metafrax methanol plant in Russia’s Perm region, according to state media. According to the region’s governor, Dmitry Makhonin, there were no casualties. Metafrax Chemicals was previously attacked in September 2025, and February 17 and March 11, 2026. In February, local residents reported at least six explosions, and plant workers were evacuated.
Price trends and market outlook, 17th June 2026.