Central Florida:
Central Florida DAP trucks were reported at $780/st FOB, firming from the week-ago $760/st FOB. Truck-loaded MAP values also lifted to $780/st FOB, up from $765/st FOB at last report. MAP trucks loading from North Florida continued to be quoted at $780/st FOB, unmoved from the prior report.
U.S. Gulf:
Sources noted firming sentiment in the NOLA barge phosphate markets.
Domestically produced DAP offers kicked off the Nov. 12-18 trading period at $720/st FOB before lifted to $740/st FOB on Nov. 15, with sources quoting limited volumes trading at the higher levels for loading in November and December. Values were reported lifting to $745/st FOB from the week-ago $740/st FOB top, while rumored $750/st FOB pricing went unconfirmed on Nov. 18. Offers for February loading were heard in the $748-$750/st FOB range.
MAP barges followed a similar trajectory, with domestically produced offers firming from $745/st FOB early in the week to $760/st FOB on Nov. 15. Most players noted the top of the MAP market holding in a general $765-$770/st FOB range, while trading rumored at $780-$785/st FOB went unconfirmed for the 30-day loading window.
The prompt DAP barge market was reported in a wide $720-$745/st FOB range for the trading week, increasing from $720-$740/st FOB at last check. MAP barge pricing rolled over from the prior $745-$770/st FOB level.
U.S. Exports:
No new spot phosphate exports were reported out of the U.S. Gulf, leaving both the DAP and MAP markets at the previously reported $740/mt FOB level.
Eastern Cornbelt:
The DAP pricing range widened to $745-$775/st FOB in the Eastern Cornbelt, with the Cincinnati market pegged at $750-$770/st FOB at midweek. MAP remained at $795-$810/st FOB in the region.
Western Cornbelt:
DAP pricing was quoted at $760-$780/st FOB in the Western Cornbelt, up $20/st, with the low at St. Louis. MAP firmed to $800-$820/st FOB at mid-month.
Southern Plains:
The DAP market had reportedly firmed to $775-$790/st FOB Catoosa/Inola, up $50/st from last report, with the Houston market pegged at the $775/st FOB level, reflecting a $40/st increase. The MAP market was pegged at $820-$830/st FOB Houston and Catoosa/Inola at mid-month, up $15-$30/st.
South Central:
DAP pricing reportedly jumped to $740-$785/st FOB terminals in the South Central region for new offers, up from $720-$750/st the week before, with the low reported in the Kentucky market. Other terminal levels at mid-month included $760-$765/st FOB Memphis, $780/st FOB Shreveport, and $785/st FOB Little Rock, Ark.
Southeast:
The last MAP price FOB Aurora, N.C., and White Springs, Fla., was reported at the $780/st FOB level.
Saudi Arabia:
Recent Saudi Arabia DAP pricing was noted firming to $765-$780/mt FOB, up from $750-$770/mt FOB at last report.
India:
Sources are reporting a DAP sale by OCP to an Indian buyer at $900/mt CFR. However, some are questioning that sale and noting the deal was really between Pakistan and OCP. One trader noted that whoever the buyer was, the deal set a new price marker for the region.
China:
Sources said a mixed phosphate cargo of 20,000 mt of DAP, MAP, and TSP was exported. Reportedly the material was already in a bonded warehouse by Oct. 15, when export restrictions took effect, but its paperwork was not fully in order. After some negotiating with local and customs officials, the cargo was allowed to be shipped out.
Sources said there is still some more DAP in bonded warehouses that did not get cleared for export by the Oct. 15 deadline. Reportedly, traders and buyers are working with local and customs officials in an effort to liberate the tons. However, said one trader, the prospects do not look positive.
Based on the recent Indian business of $900/mt CFR, sources put the China-equivalent price at $845-$850/mt FOB.
Bangladesh:
The BCIC tender for 200,000 mt of DAP closed on Nov. 18. Only 170,000 mt was offered in multiple lots of 40,000 mt each.The price range in the offers was $975-$1,060/mt CFR liner out.
No Chinese product was offered in the tender. Four lots were offered from Jordan, one from Morocco, and one from Egypt, Jordan, or Tunisia.
Brazil:
The MAP market was quiet this week. Sources reported a slight shift in prices, but with buyers and sellers taking everything easy.
The Rondonopolis market was also quiet, with prices settling at $1,000-$1,040/mt FOB ex-warehouse. Efforts by some sellers to push sales has some local buyers concerned that the move might lead to a shortage of product later in the application season next year.
The barter rate for 1 mt of MAP remains at 120 bags in Mato Grosso.