U.S. Gulf:
Ammonium sulfate barge prices strengthened, with the latest trades quoted at $275-$290/st FOB, up from the week-ago $265-$275/st FOB.
Eastern Cornbelt:
Granular ammonium sulfate prices in the Eastern Cornbelt were firming as terminal inventories shrink. Sources quoted the regional market in a broad range at $300-$350/st FOB, with the low reported in the Cincinnati market for imports and the high for domestic tons. Pricing in Illinois was pegged at $315/st FOB East Dubuque and $320/st FOB Ottawa, up $10/st from last report.
New ammonium sulfate postings from Interoceanic (IOC) on May 26 included $320/st FOB Delta terminals, $325/st FOB Upper Mississippi and Illinois River terminals, and $330/st FOB Ohio River terminals. Compared with IOC’s previous list prices on May 3, those levels reflect a $20/st increase at Delta terminals and a $15/st increase out of terminals on the Upper Mississippi, Illinois, and Ohio Rivers.
Western Cornbelt:
Ammonium sulfate was pegged in a broad range at $300-$350/st FOB, with the low at St. Louis and the high at Sioux City, Iowa. The market FOB Camanche was quoted at the $315/st level for May-June tons, up $10/st from the previous week. Sources reported tight inventories, with some terminals starting to run out for the balance of the spring season.
IOC hiked its ammonium sulfate prices on May 26, with postings firming to $320/st FOB St. Louis, $325/st FOB Upper Mississippi River terminals, and $350/st FOB Sioux City. Those levels reflect a $20/st increase at St. Louis and Sioux City, and a $15/st increase on the Upper Mississippi River.
IOC’s ammonium sulfate postings in the Southern Plains were unchanged at $295/st FOB Houston, Texas, and $325/st rail-DEL.
Northern Plains:
The granular ammonium sulfate market was quoted at $300-$315/st FOB St. Paul, with delivered tons ranging from $365-$385/st in the Northern Plains, up significantly from last report. IOC on May 26 reposted ammonium sulfate at $325/st FOB Upper Mississippi River terminals and $350/st FOB Sioux City, up $15-$20/st from its May 3 postings. Sources said product was still “in high demand” in the region in late May.
Great Lakes:
Ammonium sulfate pricing in the Great Lakes region had strengthened to $345-$360/st FOB, up from $305-$330/st at last report, with the lower end of the range reported in Wisconsin and the high in Michigan. Spot pricing in late May included $350/st FOB Saginaw and Maumee, Ohio.
Northeast:
Granular ammonium sulfate remained at $300-$330/st FOB in the Northeast, with the low confirmed at Hopewell, Va., and the high at East Liverpool. Delivered pricing ranged from $315-$345/st in the region.
China:
Sales to Southeast Asian buyers showed a netback to China of $160-$165/mt FOB for caprolactam grade ammonium sulfate. The move was not unexpected. Sources said the rising price of urea is causing more buyers to look for a cheaper nitrogen input.
Ammonium sulfate exports for January-April were up 25 percent, according to Trade Data Monitor, to 3.1 million mt from 2.47 million mt during the same period last year. The main buyer was Brazil, which took 555,000 mt, followed by Indonesia at 371,000 mt and Myanmar at 330,000 mt.
April exports were also up 25 percent, to 920,000 mt from 734,000 mt in April 2020. Again, Brazil led the pack at 188,000 mt, followed by Myanmar at 91,000 mt. The Myanmar number represented a massive increase compared with its April 2020 take of only 8,500 mt.
Thailand:
January-April ammonium sulfate imports in Thailand were up 90 percent, to 123,000 mt from 65,000 mt during the same period last year. The main source of the material was China at 91,000 mt.
April imports more than doubled, to 64,000 mt from 31,000 mt in April 2020. Most of the product this year came from China at 36,000 mt, followed by South Korea at 27,000 mt.
Brazil:
Ammonium sulfate prices moved up to $235-$245/mt CFR at Paranagua for granular ammonium sulfate. Sources said further upward pressure could be coming. Reportedly, some sellers have defaulted on their shipments of ammonium sulfate coming into Brazil.
Inland demand is also stepping up. Sources said the price at Rondonopolis moved up to $345-$355/mt FOB ex-warehouse, with nothing left of the sub-$345/mt material from last week.
Additional demand for ammonium sulfate is expected as urea prices continue to climb. Buyers around the world are looking for cheaper nitrogen inputs. In most cases, ammonium sulfate is the first thing requested when urea prices rise. Blenders also like to use the product as a urea substitute because they get the added benefit of sulfur.
The barter rate for 1 mt of ammonium sulfate shifted from 38 bags of corn last week to 42.45 bags this week.