US Gulf:
The NOLA ammonium sulfate market continued to climb, with new March barge business confirmed in the $375-$385/st FOB range, up from last week’s $335-$360/st FOB.
US Imports:
January ammonium sulfate imports totaled 61,489 st, down 36.6% compared to 97,018 st in January 2023. July-January imports were counted at 534,446 st, however, increasing 30.0% from the year-ago 411,049 st.
Imports from Canada were noted at 298,282 st for July-January, ahead of 83,943 st from Russia and 76,460 st from Belgium.
US Exports:
Ammonium sulfate exports softened 22.0% in July-January, to 426,415 st from the year-ago 547,021 st. January cargoes were counted at 38,966 st, a 64.0% decline from the 108,284 st reported one year earlier.
Exports to Peru totaled 111,845 st in July-January, followed by Canada with 52,502 st. Brazil took 40,743 st, Mexico received 40,524 st, and Uruguay bought 31,831 st.
Eastern Cornbelt:
Granular ammonium sulfate prices rose significantly, fueled by tight supply and rapidly firming NOLA barge values. Terminal prices jumped to $390-$420/st FOB in the Eastern Cornbelt, up sharply from last week’s $350-$385/st FOB range, with the low reported out of spot Illinois River terminals. The Cincinnati market strengthened to $400-$415/st FOB for new offers.
In the Great Lakes region, ammonium sulfate offers in Michigan were reported at $430-$440/st FOB and $435/st DEL during the week.
Western Cornbelt:
The granular ammonium sulfate market firmed to $375-$400/st FOB in the Western Cornbelt, up another $30/st from last week, with the high reported in Iowa and the low at St. Louis.
California:
Ammonium sulfate prices in California moved up again, climbing to $385-$395/st FOB from the prior $370/st low. The high was confirmed at French Camp for granular tons, with offers firming to $385/st FOB Lathrop, Woodland, Richvale, and Helm. Sources said they expect another increase soon.
Pacific Northwest:
The ammonium sulfate market remained at $330-$350/st FOB or DEL for the latest offers in the Pacific Northwest.
Western Canada:
Ammonium sulfate prices moved up in Western Canada, to C$500-$515/mt DEL from the prior C$490-$500/mt range.
Northwest Europe:
No new offers for standard ammonium sulfate were heard in the region this week, with product scarce due to lower caprolactam production rates, which are reportedly at 50%. With bid levels not forthcoming and no new offers, the price range was steady for now, but upward pressure is expected in the coming weeks should supply tightness continue.
China:
The urea market’s softness is being felt in the amsul market, sources said. Caprolactam grade amsul was noted at $120-$125/mt FOB, while buyers were reportedly making a hard play to push the price even lower by the end of the week.
In addition to following the urea prices lower, some amsul producers have reportedly shown growing reserves. Major buyers such as those in Brazil are holding off from making purchases until China releases DAP and MAP for export. Sources said it is more economical to include 8,000-10,000 mt lots of amsul in a vessel carrying a larger quantity of MAP across the ocean.
Regional buyers engaging in smaller deals do not face these same logistics problems, however, and continue to seek out tons. The market’s fall into the low-$120s/mt FOB resulted from deals closed with buyers from the Philippines and other Southeast Asian destinations.
January-February amsul exports were steady year-over-year, according to Trade Data Monitor, at 1.8 million mt. Vietnam, Myanmar, and Brazil each accounted for about 10% of purchases for the period, while the remaining 70% of sales was spread among more than 60 additional buyers. February exports were counted at 817,000 mt, falling 7% from the 878,000 mt shipped in February 2023.
South Korea:
January-February exports were reported at 185 mt, off from the 46,000 mt shipped during the first two months of 2023, according to Trade Data Monitor.February tons were pegged at 101 mt, against the 28,000 mt exported one year earlier.
South Korean amsul exporters have faced the same issue as their Chinese counterparts in January-February, with buyers reportedly seeking additional material to co-ship with their ammonium sulfate purchases to defray shipping costs.
Brazil:
Brazil ammonium sulfate prices softened 1.5% during the week, to $160-$165/mt CFR from $160-$170/mt CFR at last report. Players reported limited interest, with some buyers attempting to purchase in the $150-$155/mt CFR range.
Rondonópolis prices remained stable during the week, with minimal demand reported. Limited negotiations underway for the 2025 corn safrinha were noted at $270-$295/mt FOB ex-warehouse, unchanged from one week earlier.