Central Florida:
Truck-loaded DAP loading from Central Florida was posted at $470/st FOB, unmoved from the prior report. MAP trucks were offered at $500/st FOB, also steady from one week earlier.
North Florida MAP postings were set at $600/st FOB, sources said, unchanged from the prior report.
US Gulf:
Sources noted firming NOLA DAP and MAP values.
Imported DAP barges lifted to $445/st FOB from the prior $442/st FOB floor, while domestically-produced tons built on their week-ago $455/st FOB high, edging to $457/st FOB for loading in first-half July. Offers for domestic tons were quoted at $460/st FOB for July and August loading on June 28, while import offers continued to be heard at $445/st FOB late in the week.
Sources noted tight availability and minimal trading for prompt and nearby MAP barges, leaving the market’s most recent trades and offers in a reported $465-$475/st FOB range, above the prior $460/st FOB low. Players noted significant volumes of September MAP trading at $485/st FOB, while limited offers for barges loading in July and August were heard at $478-$480/st FOB.
Offers for Russian MAP rumored in a $460-$465/st FOB range went unconfirmed on June 29. Some expected thin Russian supply due to potential looming increases in countervailing duty rates. “I didn’t think there was much Russian around with the duty paranoia,” said one trader.
NOLA DAP barges lifted to a $445-$457/st FOB range, up from $442-$455/st FOB reported previously. Recent MAP pricing tracked at a general $465-$475/st FOB, sources said, above $460-$475/st FOB in the prior report.
US Exports:
Mosaic reported DAP sales totaling 10,000-15,000 mt into a single destination in Northern Latin America. Priced at $435/mt FOB, the tons were slated to load in late July or early August.
Based on reported trades, the US Gulf phosphate export market softened to $435/mt FOB from $520/mt FOB at last report.
Eastern Cornbelt:
DAP dropped to $510-$530/st FOB in the Eastern Cornbelt, down from the prior week’s $540-$550/st FOB range, with the Cincinnati market reported at the $520/st FOB level for limited supply. MAP was reported at $540-$560/st FOB in the region, with the high confirmed at Cincinnati.
Western Cornbelt:
DAP dropped to $500-$530/st FOB in the Western Cornbelt, depending on location, with MAP pegged at $520-$550/st FOB in the region. The St. Louis market remained at $500-$510/st FOB for DAP and $520-$525/st FOB for MAP in late June. In the Northern Plains, the St. Paul, Minn., market was quoted at the $500/st FOB level for DAP and $530/st FOB for MAP.
Southern Plains:
The DAP market in the Southern Plains was pegged at $500-$525/st FOB Catoosa/Inola and $530/st FOB Houston, down sharply from the $600-$650/st FOB offers reported earlier in June. MAP slipped to $530-$540/st FOB Catoosa/Inola and $580/st FOB Houston in late June.
South Central:
DAP was quoted at $500-$550/st FOB in the South Central region, well below the previous $600-$650/st FOB range, with the low in Kentucky and the high in Arkansas.
Southeast:
MAP pricing from Nutrien remained at $600/st FOB Aurora, N.C., and White Springs, Fla., after the previous week’s downward adjustment from the $650/st FOB list price.
Pacific Northwest:
MAP prices dropped sharply in the Pacific Northwest, to $600-$610/st FOB or DEL from the previous $760-$780/st range. 16-20-0 prices in the region fell to $475/st FOB or DEL, down from the prior $575-$585/st level.
China:
Reports of $440-$450/mt FOB DAP offers are being taken as the range for current business, sources said. Buyers are pushing back, however, describing even the low-$440s/mt FOB as being too high. At the same time, producers are struggling to stem the ongoing price declines for exported DAP.
Most of the deals under discussion are reportedly for late July. While some producers want to talk about August tonnage, buyers – sensing further price drops – are unwilling to commit that far ahead.
India:
No new DAP deals were reported, leaving prices in the upper-$450s/mt CFR.
India imported 1.5 million mt of DAP in January-April, Trade Data Monitor reported, a 17% decline from the year-ago 1.9 million mt. April DAP imports were put at 242,000 mt, falling from 462,000 mt received in April 2022. China supplied 137,000 mt for the month, while Saudi Arabia sent 105,000 mt.
Malaysia:
Petronas will close a DAP/MAP tender on July 3. While the company is only seeking 8,000 mt of DAP and 1,000 mt of MAP, sources said the results of the tender could offer a glimpse into pricing ideas for the region. One trader said the tender will not be a price setter, but could be a price confirmer.
Brazil:
The MAP price in Brazil moved up to $440-$450/mt CFR. The market’s rebound to levels seen two weeks ago has some sources wondering if the MAP floor has already been hit. So far, the sentiment seems to be that there is still some room for prices to come off.
The price for MAP in Rondonopolis edged up to $570-$605/mt FOB ex-warehouse. Some players are still looking for ways to push the market back down.