US Gulf:
NOLA barge prices moved down to $330-$340/st FOB from the week-ago $335-$345/st FOB.
Eastern Cornbelt:
Ammonium sulfate prices dropped to $390-$410/st FOB in the Eastern Cornbelt, down from the previous $400-$450/st FOB range.
Western Cornbelt:
Granular ammonium sulfate pricing slipped to $385-$405/st FOB in the Western Cornbelt, with the low confirmed at St. Louis and the high in Iowa.
Northern Plains:
Ammonium sulfate pricing tightened to $405-$425/st FOB and $410-$440/st DEL in the Northern Plains, down from a broad $400-$465/st DEL range reported earlier in January. Prepay tons were reportedly being offered at the $415/st DEL level in North Dakota in late January.
Northeast:
Ammonium sulfate pricing in the Northeast remained at $440-$490/st DEL for 1Q tons, depending on location.
Eastern Canada:
Sources confirmed new ammonium sulfate pricing in Eastern Canada at the C$720-$825/mt FOB level in late January, down C$20/mt at the low end of the range.
China:
Prices remained steady in the upper $160s/mt FOB, even as supplies reportedly dwindle. Sources said that reduced industrial output at China, due both to the Lunar New Year holiday and the economic slowdown, is causing a growing shortage of ammonium sulfate for the export market.
Exports saw a dramatic increase in 2022, with Trade Data Monitor reporting 12.4 million mt shipped through the year, up 17% from the year-ago 10.6 million mt. Brazil led buyers with 3.7 million mt, followed by Turkey with 1 million mt and Vietnam with 915,000 mt.
The demand for amsul skyrocketed in the second half of the year. July-December exports were reported at 7.7 million mt, up from 4.8 million mt in January-June. December exports were 1.8 million mt, rising 127% from 775,000 mt in the previous December. Brazil accounted for 42% of export market with 735,000 mt.
Chinese government restrictions on urea and other nitrogen exports incented the increase in amsul exports, as amsul was not included on the restricted list because it is a byproduct, sources said. Buyers, looking for nitrogen content for their blending facilities, snapped up the ammonium sulfate to replace their limited access to urea.
Brazil:
Buyers have grown anxious on reports that supplies from China are dwindling. Even with urea prices dropping, a number of blending facilities are still seeking ammonium sulfate for their mix. Sources reported that the vessel lineup for amsul is below where they would like it to be.
Despite the growing concerns about availability of product, the landed price edged down on the low end to $235-$250/mt CFR. Rondonopolis also saw a slight softening, to $380-$390/mt FOB ex-warehouse.