US Gulf:
The NOLA ammonium sulfate barge market slipped to a nominal $300-$310/st FOB, down from last week’s $305-$315/st FOB. Sources speculated that deals could likely be had at even lower levels, but there was minimal buying interest and liquidity to test the market.
US Imports:
Ammonium sulfate imports for July-April fell 14.6%, to 666,249 st from the year-ago 780,307 st. April imports rose 18.7%, however, to 147,953 st from the prior-year 124,629 st.
Canadian imports totaled 358,879 st for July-April, ahead of 178,161 st from Belgium and 77,769 st from South Korea.
US Exports:
Ammonium sulfate exports were up 32.7% in July-April, lifting to 663,012 st from the year-ago 499,475 st. April exports punched in at 60,502 st, up 98.2% from 30,520 st recorded one year earlier.
Eastern Cornbelt:
Ammonium sulfate prices were steady at $385-$400/st FOB in the Eastern Cornbelt.
Western Cornbelt:
Granular ammonium sulfate remained at $375-$400/st FOB in the Western Cornbelt, with the low at St. Louis and the high in Iowa.
Southern Plains:
Granular ammonium sulfate was quoted at $340-$350/st FOB Houston and $360-$380/st FOB Catoosa/Inola, down from the last confirmed offers at $370-$400/st FOB in the region.
South Central:
Granular ammonium sulfate prices remained in a broad range at $330-$400/st FOB in the South Central region, with the low confirmed in Mississippi and the high in Arkansas. The Memphis market was pegged the $385/st FOB during the week.
Southeast:
The ammonium sulfate price range in the Southeast widened considerably between granular and standard tons. Granular ammonium sulfate strengthened to $415-$450/st FOB or DEL in the region, with sources reporting tight supply in early June.
Standard grade, by contrast, dropped to a low of $280/st FOB or DEL in the Florida market, well below the prior $330-$350/st FOB range.
China:
The Indonesian tender for caprolactam grade ammonium sulfate came in at $116/mt CFR, for an estimated sub-$100/mt FOB netback to China. Sources said that while producers were not happy with this number, this is where price trends were leading.
Sources now put the market at $95-$105/mt FOB. While the market’s focus continues at the higher end of the range, price weakness is expected to continue, some said, noting that producers are increasing output at a time when demand for amsul is softening.
Brazil:
Prices came off by $5-$15/mt, to $155-$160/mt CFR. Sources said part of the price drop stemmed from softer freight costs on tons shipped from China. At the same time, however, the price for amsul out of China has been steadily dropping.
Sources said some buyers are anticipating further drops. There were reports this week of bids in the $140s/mt CFR. No deals could be confirmed at that level, but the buyers’ aggression is an indication that no price rebound is expected anytime soon.
The price in Rondonopolis edged down to $280-$300/mt FOB ex-warehouse. Sources said softer urea prices and an expectation of even lower amsul prices from China led to a lackluster week of dealing.
May imports totaled 186,000 mt, Trade Data Monitor reported, falling from the year-ago 209,000 mt. China dominated the May market, sending 170,000 mt, while the Netherlands supplied the balance.