Central Florida:
Central Florida DAP prices firmed to $530-560/st
FOB, rising from a flat $530/st FOB last week. MAP trucks maintained their
$100/st premium to DAP, lifting to $630-$660/st FOB.
North Florida MAP postings were steady at $625/st FOB, sources said.
US Gulf:
Facing uncertain delivery times and unusually long transit periods due to ongoing low-water conditions on the Eastern River System, sources reported low demand for prompt phosphate barges loading from NOLA.
NOLA DAP barges were priced at $520-$540/st FOB during the week, off from the prior $523-$550/st FOB range, while river terminal pricing and barges located upriver were reported trading at a $550/st FOB NOLA-equivalent.
MAP barges were unchanged from the week-ago $600-$640/st FOB. Sources reported terminal pricing at a $650/st FOB NOLA-equivalent.
US Exports:
No new business was reported on the US Gulf phosphate export market, leaving prices unchanged at $570/mt FOB.
Eastern Cornbelt:
DAP slipped to $590-$605/st FOB in the Eastern Cornbelt, with the Cincinnati market pegged at $600-$605/st FOB for the latest offers. MAP was pegged at $695-$705/st FOB in the region, with the upper end of the range confirmed at Cincinnati.
DAP remained in the $590-$610/st FOB range in the Western Cornbelt, with the St. Louis market quoted at the $590-$595/st FOB level. MAP was pegged at $680-$710/st FOB, down from last week’s $690-$720/st FOB range, with the low confirmed at St. Louis.
Southern Plains:
DAP and MAP prices at Catoosa/Inola slipped slightly with the reopening of the Arkansas River to barge traffic. DAP at the port was reported in a broad range at $605-$625/st FOB, compared with last week’s $610-$620/st range, while MAP was quoted down to $705-$725/st FOB from the prior week’s $710-$720/st FOB.
South Central:
DAP prices in the South Central region were pegged at $595-$610/st FOB, with the high confirmed in Arkansas and the low reported by Kentucky sources out of spot Ohio River terminals. The Memphis DAP market was reported at $600-$610/st FOB for the latest offers.
Southeast:
MAP postings from Nutrien remained at $625/st FOB Aurora, N.C., and White Springs, Fla.
China:
The DAP market in China remained steady at $565-$575/mt FOB despite efforts by India to lower prices. Export inspections have continued to operate as usual, sources said, with no preference given to phosphates.
India:
Reports circulated that a deal was done with YUC at $590/mt CFR, though sources argued the real price was just below that level. Indian buyers have been pushing hard for lower DAP prices and have been successful in inching the price down. For now, sources put the price closer to $585-$588/mt CFR, with buyers continuing to try for lower prices.
Importers are being aggressive in their pricing demands, with some continuing to argue for levels closer to $500/mt CFR. The move for dramatically lower prices comes on the heels of the government cutting subsidies for phosphates under the Nutrient Based Subsidy plan. Sources said the new level sets a maximum price for DAP at $525/mt. The difference in price above that level is not supported by the government treasury.
Brazil:
MAP imports were reported at $555-$560/mt CFR in Brazil, narrowing from the week-ago $550-$565/mt CFR. Citing reports of limited availability until December, some sellers are attempting to push prices to $575-$595/mt CFR in the next round of business.
Rondonópolis followed imports $5/mt higher, to $690-$705/mt FOB ex-warehouse. Limited prompt availability left domestic MAP prices at a historic premium in the region.
Argentina:
Argentina MAP imports fell slightly in January-September, according to Trade Data Monitor, to 560,000 mt from 605,000 mt in January-September 2022. Third-quarter imports lifted 57% from 2022, however, to 288,000 mt from 183,000 mt.
Morocco sent 56,000 mt to Argentina in September, supplying about 74% of the month’s 76,000 mt import total. Argentina imported 57,000 mt of MAP in September 2022.