Global energy and commodity price reporting agency Argus has launched weekly prices for AdBlue® in the German marketplace. AdBlue is a urea solution required for use as an exhaust additive in the tailpipes of modern diesel vehicles. Last year soaring natural gas prices in Europe led to shortages of AdBlue, threatening to immobilise truck fleets, which cannot operate without it.
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Traditionally most AdBlue contracts have been linked to Baltic urea prices, but last year the correlation between the two products weakened because of the surge in European natural gas prices. Responding to this changed market dynamic, Argus has now launched weekly AdBlue prices for both north and south Germany. Germany is Europe’s biggest consumer of the product, accounting for more than a fifth of total demand.
Argus Media chairman and chief executive Adrian Binks said: “We are pleased to be able to respond to urgent industry demand and launch these new prices, which reflect the real value of AdBlue. This rapidly growing European market needs its own transparent and accurate pricing mechanisms.”