Central Florida:
DAP trucks loading from Central Florida were posted at $500/st FOB, unchanged from last week, while MAP trucks were offered at $550/st FOB. North Florida MAP postings continued at $625/st FOB, sources said.
US Gulf:
NOLA DAP barges firmed to $530-$545/st FOB from the week-ago $525-$545/st FOB, while MAP barges jumped $25/st at the low end, to $625-$640/st FOB from last week’s $600-$640/st FOB. Sources reported a slow trading week, with most interest chasing a limited availability of MAP.
US Exports:
Export prices remained strong out of the US Gulf, with sources reporting a rise to $550/mt FOB. The market was previously noted at $520/mt FOB, a 6% week-over-week increase.
Eastern Cornbelt:
DAP prices rose to $570-$590/st FOB in the Eastern Cornbelt, with the lower end of the range reported at Cincinnati. MAP firmed to $675-$700/st FOB in the region, up another $10-$20/st from last week, with the Cincinnati market pegged at $680-$690/st FOB.
Western Cornbelt:
DAP prices in the Western Cornbelt moved up to $575-$590/st FOB during the week, with the low confirmed at St. Louis. MAP strengthened to $675-$700/st FOB in the region, up from last week’s $665-$680/st FOB, with the low at St. Louis and the high confirmed in the Iowa market.
California:
MAP pricing was up significantly in California, firming to $730-$740/st FOB or DEL from the prior $690-$710/st level.
Pacific Northwest:
MAP prices jumped to $720-$730/st FOB or DEL in the Pacific Northwest, up from the previous $670-$680/st FOB or DEL range.
Western Canada:
The latest MAP prices in Western Canada were pegged as high as the C$990/mt FOB or DEL level for September-October tons, up from previous offers in the mid- to upper-C$800s/mt. Sources said several suppliers had pulled pricing, however, while the NOLA barge market continues to climb on reports of tight supply.
China:
A reported $558/mt CFR DAP purchase by Rashtriya Chemicals and Fertilizers Ltd. (RCF) puts the netback to China at $535/mt FOB. Earlier purchases showed netbacks as low as $515/mt FOB.
While traders acknowledged $515-$535/mt FOB as a legitimate range for recent sales, few if any tons are available at the lower end. Stronger prices are expected as demand for DAP picks up, especially in India.
India:
RCF reportedly purchased tons at $558/mt CFR in its latest DAP tender, while other buyers previously made deals at $535/mt CFR. Players continue to expect higher prices based on strong Indian demand.
Bangladesh:
Sources reported the withdrawal of some offers in the latest DAP tender following a shift in the market. While no prices have been released – a normal occurrence with tenders in Bangladesh – the buyer appears to be having difficulty lining up the funding to cover potential awards in the tender, sources said.
Some relief came when Ma’aden announced signing a deal to provide Bangladesh Agricultural Development Corp. with 600,000 tons of DAP. The deal is a renewal of a long-term arrangement between the two state-owned companies.
Brazil:
MAP import prices in Brazil strengthened to $520-$530/mt CFR from $500-$520/mt CFR at last report. Noting limited September supply, sources quoted offers at $540/mt CFR for October.
Facing low supplies of all phosphates throughout Brazil, Rondonopolis MAP prices increased to $640-$660/mt FOB ex-warehouse for forward delivery. Due to a lack of available SSP and TSP in the region, companies with inventories of MAP were said to prioritize using their stocks for blending over direct sales.