U.S. Gulf:
NOLA ammonium sulfate barges were quoted in the $400-$420/st FOB range, down from the week-ago $420/st FOB. Sources continue to report good movement of product in rice country.
In the meantime, many were reportedly surprised by the July 12 joint statement from President Biden and Mexico President Lopez Obrador that Mexico will buy up to 1 million tons of ammonium sulfate. More details were still being sought at press time. However, sources said such an amount, which is approximately Mexico’s annual consumption of ammonium sulfate, could have an impact on pricing.
U.S. Imports:
July-May ammonium sulfate imports were down 7.4% year-over-year, to 875,182 st from 945,203 st. May imports stood at 94,876 st, however, lifting 22.8% from the year-ago 77,271 st. Imports from Canada were recorded at 436,908 st for July-May, ahead of Belgium’s 251,658 st. South Korea added 80,579 st.
U.S. Exports:
Ammonium sulfate exports for May stood at 62,824 st, up 22.1% from the year-ago 51,468 st. July-May exports were quoted at 562,299 st, however, down 1.7% from last year’s 572,021 st.
Eastern Cornbelt:
Granular ammonium sulfate prices were steady at $480-$495/st FOB for fill program offers in the Eastern Cornbelt. Sources reported no new prompt sales to test the prior week’s higher levels.
Western Cornbelt:
Granular ammonium sulfate pricing was pegged at $475-$495/st FOB in the Western Cornbelt for fill offers at mid-month.
Northern Plains:
More ammonium sulfate fill program offers were circulating at mid-month. After AdvanSix posted a $480/st FOB fill price in Minnesota for granular tons shipped on July 15 or after, other regional suppliers reportedly came out at the $465/st DEL level for fill offers.
New 3Q ammonium sulfate offers in the Pacific Northwest were reported at $450-$580/st DEL, depending on supplier, well below the last prompt business in the $620-$670/st range. Fill pricing in Western Canada was quoted at C$490-$500/mt DEL at mid-month, down significantly from C$900-$925/mt DEL for the last prompt business in June.
Northeast:
Ammonium sulfate was pegged in a broad range at $495-$670/st FOB or DEL in the Northeast, with the low reflecting recent fill pricing offers out of Ohio and the high for the last granular prompt business at Hopewell, Va.
Sources said tons were still moving in sidedress applications in mid-July, and a fill program offer from AdvanSix in the eastern U.S. is not expected until August.
Eastern Canada:
The ammonium sulfate market in Eastern Canada was quoted in a broad range at C$890-$1,075/mt FOB, depending on location and supplier, down a full C$90/mt from last report at the low end of the range.
China:
Ammonium sulfate prices softened to $220-$230/mt FOB as demand from Southeast Asian buyers waned. Sources noted that the prices farmers are getting for their rice do not support fertilizer purchases. The reluctance to buy is combining with lower urea prices to bring down the ammonium sulfate market price.
Traders are said to be looking for some guidance in the market. Ironically, said one trader, buyers were seeking the same guidance from international traders. The softness in the nitrogen market has many in Asia at a loss.
Brazil:
Even with a slight increase in demand, sources said the price for ammonium sulfate in Brazil has dropped to $315-$330/mt CFR. The lack of enthusiasm inland is also shown in the prices. Sources in Rondonópolis said ammonium sulfate dropped about $40/mt, to $430-$500/mt FOB ex-warehouse.