US Gulf:
No new NOLA ammonium sulfate business was reported during the week, leaving the range unchanged at a nominal $270-$275/st FOB.
US Imports:
Ammonium sulfate imports softened 56.0% in October, to 41,883 st from 95,227 st in October 2022. Imports grew 54.4% in July-October, however, to 373,951 st from last year’s 242,185 st. Imports from Canada were noted at 176,795 st for the July-October period, ahead of 75,470 st from Russia and 58,054 st from Belgium.
US Exports:
October ammonium sulfate exports were 91,360 st, a 61.6% increase on the year-ago 56,538 st. Exports softened to 250,882 st in July-October, however, off 14.3% from 292,593 st during the same period last year. Exports to Peru totaled 47,963 st in July-October, beating 33,887 st to Brazil. Mexico’s 30,506 st pulled ahead of 29,626 st to Uruguay and 26,679 st to Canada.
Eastern Cornbelt:
Granular ammonium sulfate pricing in the Eastern Cornbelt was pegged at $300-$330/st FOB, with the low confirmed at Cincinnati, although producer postings were quoted as high as $335-$340/st FOB at that location. Michigan terminal prices were pegged at the $340/st FOB level.
Western Cornbelt:
Granular ammonium sulfate firmed to $300-$330/st FOB in the Western Cornbelt, with the low reported at St. Louis and the high in Iowa.
Southern Plains:
Granular ammonium sulfate pricing slipped to $285-$295/st FOB Houston, down from the prior $300/st FOB level, while offers at Catoosa/Inola were reported in a broad $305-$325/st FOB range during the week, depending on supplier.
South Central:
The ammonium sulfate market remained in a broad range at $260-$320/st FOB in the South Central region, with the low confirmed in southern Mississippi and the high in Arkansas.
Southeast:
AdvanSix announced a $15/st increase for ammonium sulfate at Hopewell, Va., effective Dec. 18. New levels will move on that date to $335/st FOB for granular, $305/st FOB for mid-grade, and $285/st FOB for standard grade.
China:
Prices came off again this week, and sources put the price of caprolactam grade amsul at $110-$115/mt FOB. Although producers would like to claim that deals are being done at the upper end of this range – such as a tender from the Philippines indicating a netback of $115/mt FOB to China – they face continued pressure for lower prices.
Looming over any attempt to stem the price drop are reports that the market continues to await the Indonesia amsul tender, for three lots of 25,000 mt, to fully conclude. Netbacks from offers reported in the tender showed a price of $100-$110/mt FOB China.
If the Indonesia deal concludes, sources said prospective buyers will shoot past the $110/mt FOB price and go straight for $100/mt FOB.
Brazil:
The landed price of ammonium sulfate softened to $160-$175/mt CFR, down from last week’s $165-$175/mt CFR, following the decline in the urea market. Amsul and urea are now priced at near-parity on a nitrogen basis, sources said.
Citing low demand, sources reported Rondonópolis prices stable at $295-$310/mt FOB ex-warehouse.