SCB Group is pleased to announce the two first brokered deals on SGX Group of Ammonia CFR EA swaps for a total of 1,000mt.
SCB has supported the development of the Ammonia futures market on SGX and ICE since 2022.
Environmental Potential with Hedging Advantages
Ammonia is a not a new market and has traditionally been used mainly by the fertilizer sector, however the new futures and swaps launched by SGX has been driven more by the growing demand and interest from the non-traditional sectors, potentially as a shipping fuel or a carrier for hydrogen.
SCB’s Broker Aeron Davies said, “I am delighted to have closed the first trade on CFR EA Ammonia swaps, this contract gives participants finally the opportunity to hedge the forward price risk for Ammonia for its many and diverse uses”.