US Gulf:
While no new NOLA business was confirmed for ammonium sulfate, sources were in agreement that the next trades will be considerably higher than the last-done $220/st FOB, with the latest indications falling in the $255-$270/st FOB range, if not higher. The increase is fueled by a tight market, sources said, as well as higher postings from producers.
Interoceanic (IOC) on Sept. 19 raised its NOLA price for granular ammonium sulfate to $295/st FOB for September-October shipment and $305/st FOB for November-December, up from the company’s Aug. 28 reference of $255/st FOB. AdvanSix on Sept. 15 announced new NOLA postings at the $270/st FOB level.
Eastern Cornbelt:
The granular ammonium sulfate market firmed to $300-$335/st FOB in the Eastern Cornbelt, fueled by new postings from AdvanSix and IOC.
Following AdvanSix’s move to $310/st FOB river warehouses for 4Q tons on Sept. 15, IOC on Sept. 19 raised its granular ammonium sulfate postings for September-October shipment to $335/st FOB Upper Mississippi, Illinois, and Ohio river terminals, up $35/st from the company’s Aug. 28 postings. IOC’s prices for November-December shipment include $345/st FOB Illinois and Ohio river terminals and $350/st FOB Upper Mississippi River terminals.
Western Cornbelt:
The granular ammonium sulfate market was unchanged at $275-$300/st FOB in the Western Cornbelt, with the low confirmed at St. Louis and the high reported at Caruthersville and out of spot Iowa shipping points.
IOC’s Sept. 19 granular ammonium sulfate postings for September-October shipment include $330/st FOB St. Louis, $335/st FOB Upper Mississippi River terminals, $345/st FOB Sioux City, Iowa, Omaha, Neb., and Casselton, N.D., and $340/st rail-DEL in the Northern Plains. IOC’s new postings for November-December shipment are $15/st higher.
Southern Plains:
The granular ammonium sulfate market firmed to $290-$295/st FOB in the Southern Plains, up from the previous $270-$290/st FOB range, with the high reported at Catoosa/Inola and the low at Houston.
IOC’s Sept. 19 postings for September-October shipment jumped to $300/st FOB Houston, up $25/st from the company’s Aug. 28 reference of $275/st FOB.
South Central:
The ammonium sulfate market was pegged in a broad range at $220-$300/st FOB in the South Central region, with the low confirmed in southern Mississippi and the high in Arkansas.
IOC’s granular ammonium sulfate posting FOB Delta terminals firmed on Sept. 19 to $330/st FOB for September-October shipment, up $35/st from the company’s Aug. 28 posting, with new reference pricing for November-December shipments jumping to $345/st FOB Delta terminals.
Southeast:
Ammonium sulfate remained in a broad range at $220-$305/st FOB in the Southeast, depending on location and grade, with the low confirmed in Alabama and Florida. The latest postings from AdvanSix FOB Hopewell, Va., included $305/st for granular, $275/st for mid-grade, and $255/st for standard.
China:
The market’s initial reaction to the potentially limited awards in the RCF urea tender caused some traders to predict a softer urea market, which in turn was reflected in the amsul market. Sources reported new business settling in the upper-$160s/mt FOB on expectations of lower urea prices. One producer added that softer demand, particularly in Southeast Asia, helped to push prices below $170/mt FOB.
The bulk of China’s amsul exports were done in small lots. Trade Data Monitor reported January-August exports at 8.5 million mt, a 21% increase from the 7 million mt shipped through the same period of 2022. Brazil continued as China’s largest amsul buyer, taking 2.6 million mt during the period, followed by Myanmar with 1 million mt. The remaining 58% of exports went to 97 countries, with each buyer taking small lots.
August exports were 1.5 million mt, up marginally from 1.3 million mt shipped one year earlier. Brazil took 855,000 mt, for 55% of the month’s total.
South Korea:
Softer Asian demand has pushed down exports from South Korea. Trade Data Monitor reported January-August exports at 123,000 mt, a 35% decline from the year-ago 190,000 mt. August exports stood at 19,000 mt, off from the 46,000 mt shipped in August 2022.
Brazil:
The landed price of ammonium sulfate pulled back to $205-$220/mt CFR from the week-ago $210-$220/mt CFR, with most business falling toward the bottom of the range.
Ammonium sulfate prices softened at Rondonopolis, to $310-$325/mt FOB ex-warehouse from the prior $320-$350/mt FOB range.