US Gulf:
The latest NOLA ammonium sulfate business continued to be reported at the $265/st FOB level, unchanged from the prior week.
Eastern Cornbelt:
Granular ammonium sulfate slipped to $305-$330/st FOB in the Eastern Cornbelt, down slightly from last week’s $310-$330/st FOB range, with the low confirmed out of Illinois River terminals for January-February tons and the high reported in Ohio.
Western Cornbelt:
The granular ammonium sulfate market remained in a broad range at $295-$330/st FOB in the Western Cornbelt, with the low at St. Louis and the high in Iowa on a spot basis. In the Southern Plains, recent Houston, Texas, business was reported as low as $275/st FOB.
Northern Plains:
The granular ammonium sulfate market was reported at $320-$340/st FOB and $330-$345/st DEL in the Northern Plains.
Great Lakes:
Ammonium sulfate was quoted at $320-$345/st FOB in the Great Lakes region, with delivered pricing reported at the $350/st level in Michigan.
Northeast:
Granular ammonium sulfate pricing in the Northeast remained at $340/st FOB and $340-$350/st DEL.
Eastern Canada:
The ammonium sulfate market in Eastern Canada was unchanged at C$530-$575/mt FOB in late January.
China:
Prices continued to firm during the week. While a handful of opportunistic purchases were reportedly made early in the week at sub-$150/mt FOB levels, pricing discussions for caprolactam grade amsul moved firmly to $150-$155/mt FOB by the end of the week.
The upward push is coming from both domestic and offshore demand. Sources said Chinese buyers are stepping up their purchases. At the same time, Southeast Asian buyers are looking at amsul to replace the limited amount of urea available in the region.
There were also reports that Turkish buyers are stepping up their inquiries for Chinese amsul. In the past such inquiries would not have been unusual. However, any product heading to Turkey from China must pass through the war-torn Red Sea and Gulf of Aden. So far, said sources, the only problem shippers have experienced with cargoes bound for Turkey are the higher insurance rates imposed on vessels passing through the region.
Ammonium sulfate exports from China firmed 12% in 2023, according to Trade Data Monitor, to 14 million mt from 12 million mt in 2022, with three countries taking just over 50% of the year’s exports. Brazil topped the buyer list with 5 million mt, Myanmar bought 1.5 million mt, and Vietnam received 873,000 mt.
Brazil:
Brazil ammonium sulfate imports moved up to $175-$180/mt CFR, lifting $5/mt at the bottom of the range. Players expect further increases ahead, reflecting rising FOB prices in China. Rondonópolis pricing firmed to $300-$330/mt FOB ex-warehouse, up from last week’s $290-$330/mt FOB.