Central Florida:
DAP trucks loading from Central Florida were posted at $500/st FOB, $30/st above the prior level. MAP trucks were offered at $550/st FOB, increasing $50/st from one week earlier. North Florida MAP postings continued at $600/st FOB, sources said.
US Gulf:
Sources noted NOLA DAP trades in the $470-$500/st FOB range, increasing from last week’s $445-$470/st FOB. Short-covering by MAP buyers was reported pressuring the NOLA market to $535-$585/st FOB, up from the week-ago $480-$530/st FOB.
US Exports:
Export prices remained at $470/mt FOB on reports of limited third-quarter availability.
Eastern Cornbelt:
Surging NOLA barge values pushed the DAP market to $540-$550/st FOB in the Eastern Cornbelt, up another $20/st from last week, with the high reported at Cincinnati. Some suppliers reportedly pulled terminal pricing until the market settles.
MAP jumped to $595-$625/st FOB in the region, up $45-$55/st from the prior week, with the high confirmed at Cincinnati. “It seems everyone is talking about extreme tightness in MAP this fall,” commented one regional source.
In the Northeast, new levels FOB East Liverpool, Ohio, included $610/st for DAP and $645/st for MAP.
DAP pricing firmed to $540-$560/st FOB in the Western Cornbelt, up sharply from last week’s $495-$525/st FOB range, with the St. Louis market pegged at $540-$555/st FOB during the week.
MAP moved to $590-$630/st FOB for new offers in the region, up some $65-$70/st from the previous week. Both the high and low were reported at St. Louis over the course of the week, with the upper numbers confirmed late on July 27.
In the Southern Plains, DAP and MAP pricing at Catoosa/Inola reportedly jumped to as high as $560/st FOB and $640/st FOB, respectively.
California:
After firming to $640/st last week from an earlier low of $625/st, MAP prices moved up again in California, climbing to $690-$710/st FOB or DEL during the week.
Pacific Northwest:
MAP jumped to $670-$680/st FOB or DEL in the Pacific Northwest in late July, up from last week’s $620-$630/st range and a low of $600-$610/st earlier in the month.
Western Canada:
MAP pricing in Western Canada strengthened to C$845-$895/mt FOB and C$890-$900/mt DEL for August-September offers, up from the prior C$815-$830/mt FOB and C$810-$825/mt rail-DEL levels.
“It’s been a tough week for price discovery, with most pulling offers end of last week when NOLA moved up aggressively,” reported one contact.
China:
Producers are now offering DAP at $470/mt FOB with no takers, a large jump from the last business reported in the $420s/mt FOB. Producers were reportedly halting talks with traders unless discussions started at the $470/mt FOB level.
DAP exports were up 86% in the first half of 2023, according to Trade Data Monitor, lifting to2.4 million mt from the year-ago 1.3 million mt. India took 1.6 million mt, followed by Japan with 149,000 mt.
China exported 929,000 mt of DAP in June, leaping from 197,000 mt in June 2022. Second-quarter sales also firmed significantly from the previous year, to 1.8 million mt from the 555,000 mt reported in April-June 2022.
MAP exports were more subdued in the first half of the year, falling 1% to 927,000 mt from the prior year’s 940,000 mt. Brazil received 318,000 mt, while Australia bought 132,000 mt. June exports were 49,000 mt, off from the year-ago 317,000 mt, while second-quarter sales dipped to 393,000 mt, down from the 738,000 mt logged in April-June 2022.
India:
Buyer efforts to push down Chinese DAP prices hit a brick wall, as producers announced a major leap in pricing rather than accepting lower bids. No new spot business was concluded into India, leaving prices in the low-$430s/mt CFR.
Brazil
MAP climbed to $480-$490/mt CFR, up from $470-$475/mt CFR at last report. A limited amount of Russian tonnage was reportedly priced at the top of the range, while offers for material of North African origin set the low. Players expect the next round of discussions to lift above the $500/mt CFR mark.
MAP prices at Rondonopolis continued to strengthen on low availability, firming to $605-$650/mt FOB ex-warehouse. Sources reported shortages in meeting the final needs of the 2023-2024 crop.