LONDON (ICIS)--Yara became the latest ammonia producer to curtail European production due to record high natural gas prices, the Norwegian fertilizer major said on Friday.
Just 48 hours after US major CF Industries shuttered its two UK plants indefinitely for the same reason, Yara said the squeeze on margins was unsustainable and unidentified units would be idled over the next few days.
“Including optimisation of on-going maintenance, Yara will by next week have curtailed around 40% of its European ammonia production capacity,” the company said.
“Yara will continue to monitor the situation, with the objective to keep supplying customers but curtailing production where necessary.”
The shutdowns are likely to see Yara source material from plants in the Americas and bring them across the Atlantic to its downstream manufacturing system.
Dutch fertilizers and chemicals major OCI is poised to discharge around 25,000 tonnes of US material at Rotterdam, after sending a vessel to collect group volume from Texas amid capacity cuts at Geleen, the Netherlands.
Lijkt erop dat OCI paraat staat om in een groot gat te springen??