U.S. Gulf:
While NOLA barges had been previously done at $415/st FOB, sources said new IOC postings of $500/st FOB drove up expectations for the next piece of business. Players put the range at $450-$460/st FOB.
Eastern Cornbelt:
The ammonium sulfate market was pegged in a broad range at $450-$540/st FOB in the Eastern Cornbelt, depending on location and time of the week.
IOC on Oct. 26 announced higher pricing for granular ammonium sulfate, citing sharp price increases for raw materials. New postings included $535/st FOB Illinois River terminals and $540/st FOB Ohio River terminals, up $95-$100/st from IOC’s last pricing offers on Oct. 1.
Western Cornbelt:
The ammonium sulfate market ranged broadly in the Western Cornbelt, from a low of $450-$475/st FOB to a high of $540/st FOB as the week progressed, depending on location.
IOC’s Oct. 26 postings included $530/st FOB St. Louis, $535/st FOB Upper Mississippi River terminals, $550/st FOB Sioux City, Iowa, and $550/st rail-DEL in the Northern Plains.
Southern Plains:
The low end of the granular ammonium sulfate market in the Southern Plains remained at the $400/st level FOB Houston for some confirmed business early in the week, but pricing moved up dramatically from there. New postings from IOC on Oct. 26 included $500/st FOB Houston, up $100/st from the company’s Oct. 1 list price. Rail-DEL pricing from IOC firmed to $540/st in the Southern Plains.
The Catoosa/Inola ammonium sulfate market also ranged broadly. While sources quoted offers early in the week at $450/st FOB and “hard to find,” some suppliers reportedly raised prices at the port to as high as $545/st FOB at midweek.
South Central:
Ammonium sulfate prices ranged broadly in the South Central region, from a low of $440-$450/st FOB Memphis to a high of $525/st FOB Shreveport. New postings from IOC on Oct. 26 included $530/st FOB Delta terminals, up $95/st from the company’s previous list price.
Southeast:
Sources continued to quote the low end of the ammonium sulfate market in the Southeast at $325/st FOB for standard and $375/st FOB for granular in Florida, but higher postings were in effect.
New list prices FOB Hopewell, Va., as of Oct. 16 included $420/st for granular, $400/st for mid-grade, and $380/st for standard, up $85/st from AdvanSix’s last posting on Sept. 20. IOC on Oct. 26 raised its granular ammonium sulfate price to $545/st FOB Tampa, Fla., up $90/st from the company’s Oct. 1 posting.
China:
Prices jumped to $350/mt FOB, providing a nice profit for holders of ammonium sulfate and severe sticker shock to buyers in Southeast Asia and Brazil. The jump came as production of amsul wanes and as rumors circulate that the Chinese government may add ammonium sulfate to the export ban order.
Sources said so far, the higher export price is not being reflected in deals to Chinese domestic NPK blenders. One trader said, however, if the price does begin to rise appreciably in the domestic market, the government may step in to keep any amsul from leaving China.
Brazil:
The market showed only slight fluctuations in Paranagua, settling in at $430-$480/mt CFR for granular ammonium sulfate. Sources reported some concern with the ability to secure all the tons necessary from China. Already there are reports of some orders not being fully covered.
Rondonopolis remains steady at $500/mt FOB ex-warehouse, despite growing concerns that China may limit amsul exports and that transportation from the ports to inland warehouses could be disrupted by a trucker strike.
Thailand:
January-September imports of ammonium sulfate were up 40 percent, according to Trade Data Monitor, to 351,000 mt from the 252,000 mt imported during the same period in 2020. China was the main supplier this year at 278,000 mt, with South Korea a distant second at 55,000 mt.
Third-quarter imports for 2021 were down about 34 percent, to 73,000 mt from 110,000 mt imported during the same period last year.September 2021 imports were reported at only 3,700 mt, compared with 13,000 mt imported in September 2020.