US Gulf:
The NOLA barge market continued at $300-$310/st FOB. Interoceanic Corp. (IOC) posted NOLA product at $315/st FOB.
US Imports:
January ammonium sulfate imports were noted at 97,018 st, up 54.6% from 62,746 st in January 2022. July-January exports totaled 411,049 st, 9.0% below the year-ago 451,861 st.
Imports from Canada totaled 231,389 st for July-January. Belgium sent 119,993 st, followed by 47,455 st from South Korea.
US Exports:
Amsul exports firmed 36.1% in July-January, to 547,021 st from the year-ago 401,871 st. Shipments totaled 108,284 st for January, a 163.4% increase from 41,116 st in January 2022.
Eastern Cornbelt:
Granular ammonium sulfate pricing slipped to $370-$385/st FOB in the Eastern Cornbelt, down $10-$15/st, depending on location. IOC on March 16 announced new spring pricing for PCI Nitrogen’s premium grade granular ammonium sulfate, with new postings dropping to $370/st FOB Upper Mississippi River and Illinois River terminals, and $375/st FOB Ohio River terminals.
Western Cornbelt:
Granular ammonium sulfate was quoted at $350-$385/st FOB in the Western Cornbelt, with the low confirmed at St. Louis. New spring postings from IOC on March 16 included $365/st FOB St. Louis, $370/st FOB Upper Mississippi River terminals, and $385/st FOB Sioux City, Iowa, Omaha, Neb., and Casselton, N.D. IOC’s spring price for rail-DEL tons in the Northern Plains moved to $385/st.
Southern Plains:
Granular ammonium sulfate pricing at Houston was quoted at $340-$350/st FOB, with Catoosa/Inola offers pegged at the $370/st FOB level. IOC’s March 16 postings for granular ammonium sulfate included $350/st FOB Houston.
South Central:
Ammonium sulfate prices were reported in a broad range at $345-$385/st FOB in the South Central region, with the low confirmed in Mississippi and the high in Arkansas. The Memphis market was generally reported at $370-$375/st FOB for new business during the week, while spring postings from IOC on March 16 included $365/st FOB Mississippi Delta terminals.
Southeast:
Ammonium sulfate pricing FOB Hopewell, Va., remained at $490/st FOB for granular, $450/st FOB for mid-grade, and $430/st FOB for standard. Pricing in the Florida market was steady as well at $395/st FOB/DEL for standard and $505/st FOB/DEL for granular. IOC’s March 16 postings for granular ammonium sulfate included $420/st FOB Tampa.
China:
Sources said that both lower production output and reduced demand from regional buyers are combining to gently lower prices. For several weeks, the supply and demand changes have kept pace with each other, allowing prices to remain steady.
While no new deals were reported to move the price this week, sources said buyers are finding it more difficult to move its caprolactam-grade amsul, increasing the pressure to lower prices. At the same time, potential buyers are reportedly pushing for lower prices.
For now, the price remained steady in the low-$170s/mt FOB, based on limited discussions and even fewer sales.
South Korea:
January-February ammonium sulfate exports stood at 46,000 mt, according to Trade Data Monitor, a30% decrease from 66,000 mt exported through the first two months of 2022. The main buyers were the US with 27,500 mt, and New Zealand with 12,000 mt.
February exports totaled 28,000 mt. The US took 27,500 mt, down more than 50% from the year-ago 60,000 mt.
Brazil:
Prices continued to drop as market observers began to think a price floor was in view, if not already achieved. Sources put prices at $205-$215/mt CFR, a slight softening from previous quotes.
The Rondonopolis amsul market tightened to $340-$350/mt FOB ex-warehouse. The move was seen as a general softening of the overall inland nitrogen market.