Central Florida:
Price postings for DAP and MAP trucks loading from Central Florida remained unchanged at $630/st for the week, sources confirmed.
North Florida MAP trucks were priced at $630/st FOB, also unmoved from one week earlier.
US Gulf:
Players noted softening values in the NOLA DAP and MAP barge markets.
Offers for domestically-produced DAP were quoted firming to $610/st FOB at the start of the Feb. 24-March 2 trading week, a $10/st increase on the prior $600/st FOB offer. At the same time, players noted the top of the DAP range slipping to $615/st FOB, off $10/st from $625/st FOB at last check, while imported product was even with the $600/st FOB week-ago floor.
MAP pricing was also off, with sources noting the low side of the range dropping $10/st week-over-week, to $555/st FOB from $565/st FOB. Sources continued to put the top of the market unchanged from the prior $575/st FOB, however.
Domestic producers were quoted reevaluating offer levels for both DAP and MAP barges on March 2.
The nearby DAP barge market softened to a $600-$615/st FOB range, a shift from $600-$625/st FOB reported previously. MAP barges fell to $555-$575/st FOB, from $565-$575/st FOB noted one week earlier.
US Exports:
Players continued to note a quiet Gulf spot market for the week, with no new spot business reported. Offers for new business were quoted at $650/mt FOB for limited March availability.
Eastern Cornbelt:
DAP remained at $660-$680/st FOB and MAP at $650-$670/st FOB in the Eastern Cornbelt, with the Cincinnati market unchanged at $660-$670/st FOB for DAP and $650-$660/st FOB for MAP.
Western Cornbelt:
DAP was unchanged at $640-$670/st FOB in the Western Cornbelt, with the St. Louis market reported at $640-$660/st FOB during the week. MAP remained at $620-$650/st FOB in the region, with the low again confirmed at St. Louis.
California:
MAP postings in California remained at $835/st FOB or DEL, with reports of spot rail-DEL offers down to $790/st in Northern California.
Pacific Northwest:
MAP pricing in the Pacific Northwest was unchanged at $760-$770/st FOB or DEL in early March, depending on location.
Western Canada:
MAP in Western Canada was pegged at C$1,060-$1,070/mt DEL, down C$15-$25/mt from early February. Warehouse pricing was quoted at C$1,080-$1,100/mt FOB, depending on location, reflecting a C$20/mt drop from last report.
China:
No new spot sales were reported out of China. Sources estimated the price to be in the $630s/mt FOB, based on rumored small deals to Asian neighbors.
The netback to China from deals recently concluded in India would put the price at $615-$620/mt FOB. However, sources are careful to point out that recent Indian deals all came from non-China sources, which traditionally have lower prices.
India:
A series of DAP purchases nailed down prices in the $640s/mt CFR.
Sources reported a 220,000 mt sale from Saudi Arabia at $643/mt CFR, a deal of about 200,000 mt from an unnamed source at $640/mt CFR, and a purchase from Jordan at $645/mt CFR. These deals came on the heels of a late-February sale from OCP priced in the low-$640s/mt CFR.
Domestic DAP production is reportedly down for February and March due to a series of routine plant turnarounds. Production is expected to pick up in late March and early April.
The DoF reported DAP imports totaling 562,000 mt in January, increasing from the year-ago 245,000 mt. A more detailed report is expected soon from Trade Data Monitor.
Trade Data Monitor reported 2022 DAP imports at 6.8 million mt, up 45% year-over-year from 4.7 million mt. Morocco supplied 2 million mt, followed by Saudi Arabia with 1.98 million mt. Imports from China totaled 1.3 million mt, while Russia added 750,000 mt.
December imports were 583,000 mt, up about 34% from 436,000 mt recorded for December 2021. Saudi Arabia supplied nearly half of the market with 287,000 mt, followed by 119,000 mt from Morocco and 102,000 mt from China.
Brazil:
The MAP price took a slight dip to $645-$655/mt CFR. Sources attributed the lower pricing to downward pressure from other phosphate products. The Rondonopolis price edged slightly upward to $790-$820/mt FOB ex-warehouse. Sources reported aggressive MAP buying north of Rondonopolis as having an impact on inland prices.
Argentina:
Even though Argentina’s largest MAP deliveries typically take place in the second and third quarters, TDM reported a token shipment of 4,700 mt from Saudi Arabia in January. Argentina imported 1,000 mt in January 2022.