US Gulf:
The NOLA barge market for ammonium sulfate remained at $300-$305/st FOB for the last business, though sources reported a limited number of transactions over the last three weeks.
Eastern Cornbelt:
Ammonium sulfate prices were steady at $385-$400/st FOB in the Eastern Cornbelt.
Western Cornbelt:
Granular ammonium sulfate remained at $360-$390/st FOB in the Western Cornbelt, with the low at St. Louis and the high in Iowa.
Northern Plains:
The granular ammonium sulfate market was pegged at $370-$405/st FOB in the Northern Plains, with the low at St. Paul and the high at Sioux City, Iowa. Delivered pricing in the region was reported in the $425-$450/st range for the latest offers.
Northeast:
Granular ammonium sulfate prices in the Northeast remained at $410-$425/st DEL and $405-$408/st FOB, as demand for sidedressing continues.
Eastern Canada:
Ammonium sulfate was quoted at C$670-$825/mt FOB in Eastern Canada, down C$20/mt at the low end of the range.
China:
A tender held by Atlas Fertilizer Corp., in the Philippines, indicated netbacks to China in the low-$90s/mt FOB for caprolactam grade amsul. However, sources put the most likely netback at $95/mt FOB.
Area traders said an award at that level might be possible, but only once. Sources said the bulk of discussions for amsul from China remains at $100-$105/mt FOB. However, increased output from China could allow for more deals at the lower end of that range, with an occasional dip below $100/mt FOB.
China exported 4.7 million mt of ammonium sulfate in January-May 2023, according to Trade Data Monitor, an18% increase from the year-go 3.9 million mt. May exports stood at 1 million mt, up 30% from 781,000 mt shipped in May 2022. Brazil took 214,000 mt for the month, followed by Myanmar with 132,000 mt.
South Korea:
January-May ammonium sulfate exports totaled 72,000 mt, Trade Data Monitor reported, down about 27% year-over-year from 98,000 mt. All of South Korea’s 25,000 mt May exports went to the US. Exports were noted at 142 mt in May 2022.
Brazil:
The landed price came in at $135-$145/mt CFR, down about $10/mt from the previous week.
The current amsul price, along with the rise in urea pricing, now puts the nitrogen value of the two products at near-parity. The soft urea prices in recent months have eliminated the advantage previously held by amsul in the blending process. A further rise in urea pricing, combined with a stable amsul price, could make ammonium sulfate attractive to blenders again.
The price in Rondonopolis moved up to $270-$310/mt FOB ex-warehouse. Sources attributed the shift to word of higher urea prices being achieved at the ports.