Central Florida:
Central Florida DAP trucks were posted at $530/st FOB, down from the week-ago $530-$550/st FOB. Truck-loaded MAP was reported at $630/st FOB, tightening from last week’s $630-$650/st FOB range. White Springs MAP continued at $625/st FOB.
US Gulf:
Sources noted softer pricing on the week’s NOLA barge phosphate markets, although a premium remained for prompt barges compared to tons loading in November.
NOLA DAP barges slipped to $525-$540/st FOB, off from the week-ago $525-$550/st FOB, while trading rumored above $540/st FOB was reportedly limited to tons located upriver. MAP barge trades were quoted in the $600-$635/st FOB range, down from the previous week’s $600-$650/st FOB.
US Imports:
July-August DAP imports firmed 143.0% year-over-year, to 219,749 st from 90,447 st. August imports were down 59.2%, however, falling to 25,268 st from the year-ago 61,943 st. July-August imports from Saudi Arabia stood at 138,068 st, while material shipping from Jordan totaled 58,916 st. Australia added 20,834 st.
August MAP/Other imports firmed 1,489.2%, to 83,878 st from the year-ago 5,278 st. Imports totaled 161,628 st for the July-August fertilizer year, up 301.0% from 40,308 st in the prior year. Tunisia sent 86,363 st for the two-month period, ahead of 36,375 st from Saudi Arabia and 35,274 st from Australia.
US Exports:
Nothing new was reported on the Gulf export phosphate market, leaving pricing at the last-reported $570/mt FOB level.
DAP exports for August softened 75.6% year-over-year, to 26,798 st from 109,787 st. July-August shipments were 68.4% lower, at 53,373 st compared to the year-ago 169,121 st. Exporters sent 18,040 st of DAP to Peru in July-August, ahead of 11,463 st to Mexico and 8,818 st to Uruguay.
August MAP/Other exports were 161,174 st, an 11.5% decrease from the year-ago 182,145 st. Exports softened to 213,501 st in July-August, off 15.9% from 253,981 st in the same period last year. Canada took 178,528 st for July-August, topping 29,893 st to Mexico and 2,869 st to Colombia.
Eastern Cornbelt:
DAP was steady at $590-$625/st FOB in the Eastern Cornbelt, with MAP quoted at $700-$725/st FOB in the region. As with the previous week, both the high and low ends of each range were reported in the Cincinnati market during the week.
DAP pricing remained in the $590-$610/st FOB range in the Western Cornbelt. MAP was reported at $700-$720/st FOB, depending on location, with the high confirmed in Iowa.
California:
MAP pricing in mid-October remained at a firm $750/st FOB or DEL in California.
Pacific Northwest:
MAP was quoted at $735-$740/st FOB or DEL in the Pacific Northwest.
Western Canada:
MAP prices inched up in Western Canada, to C$1,035-$1,050/mt FOB and C$1,050-$1,060/mt DEL.
China:
DAP prices at China were steady in the low-$570s/mt FOB, even as producers continue to push for $580/mt FOB. Traders speculate that softer prices are coming, due to rumors that China’s central government will allow 1 million mt of DAP to be exported during the last few months of the year.
In lieu of a hearing or formal announcement, traders are watching for indications that customs officials will authorize requests for more exports. If 1 million mt of DAP are allowed to be shipped, the tonnage will represent an increase from the 957,000 mt shipped in the fourth quarter of 2022.
Third-quarter sales have exceeded fourth-quarter exports in the last five years. The final export numbers for third-quarter 2023 have not yet been released by the Chinese government.
India:
Indian buyers have achieved a slight decrease in the cost of imported DAP, players noted. The latest price was pegged at $593-$594/mt CFR, down slightly from the previous $595/mt CFR. While demand for DAP remains strong, buyers are facing competition from Pakistan and Bangladesh, both of which are seeking more product to close out the year.
Brazil:
MAP import prices rose to $550-$560/mt CFR, above the prior $550/mt CFR level, with buyers focused on securing prompt deliveries to replace delayed shipments from North Africa. The delivery delays also sent Rondonópolis prices higher, to $685-$700/mt FOB ex-warehouse from last week’s $650-$700/mt FOB range.