US Gulf:
No new NOLA barge business was reported for ammonium sulfate during the week, leaving the range at last week’s $375-$385/st FOB level for confirmed trades.
Eastern Cornbelt:
Granular ammonium sulfate pricing climbed to $400-$420/st FOB in the Eastern Cornbelt, up from last week’s $390/st FOB low. In the Great Lakes region, the latest delivered offers in Michigan firmed to the $440/st level for March-April tons.
Western Cornbelt:
The granular ammonium sulfate market jumped to $400-$420/st FOB in the Western Cornbelt, up another $20-$25/st from last week, with the St. Louis market pegged firmly in the $410-$420/st FOB range during the week.
Northern Plains:
Delivered granular ammonium sulfate firmed to a broad $395-$450/st range in the Northern Plains, up from $370-$430/st DEL at last report, with the low for Canadian tons. Terminal prices jumped to $400-$425/st FOB, up from $370-$410/st FOB, with the low reported at St. Paul and the high in North Dakota.
Northeast:
Granular ammonium sulfate strengthened to $400-$420/st FOB across the eastern Ohio River system, up significantly from the prior $355-$380/st FOB level. Delivered pricing in the Northeast also firmed, to $385-$415/st from the previous $365-$375/st DEL range, depending on location.
Eastern Canada:
The latest ammonium sulfate offers jumped to C$580-$640/mt FOB in Eastern Canada, up from the previous C$545-$590/mt FOB range.
Northwest Europe:
Ammonium sulfate prices in the region have climbed higher. A small sale of standard material set the high end this week, with the low side reflecting a buyer bid. Producers continue to cite low caprolactam operating rates and a tight sulfur market as reasons for the recent bullishness.
China:
The price range widened at China as demand for caprolactam grade amsul has picked up. Sources now report the price at $120-$130/mt FOB.
There were reports of several small lots sold to Asian buyers early in the week priced in the low-$120s/mt FOB. Sources said at least three 5,000-10,000 mt cargoes were sold in the high-$120s/mt FOB later in the week. An additional set of orders combined into a single 20,000-30,000 mt cargo shipping in early April were also priced in the upper-$120s/mt FOB, players noted.
Thailand:
Thailand imported 75,000 mt of amsul during the first two months of 2024, according to Trade Data Monitor, a substantial leap from the year-ago 13,000 mt. As expected, China dominated the imports, sending 74,000 mt. February imports were pegged at 55,000 mt, above the 2,700 mt recorded in February 2023.
Brazil:
Ammonium sulfate imports softened 3%, to $155-$160/mt CFR from $160-$165/mt CFR at last report, with multiple cargoes noted changing hands. Buyers were reportedly testing the market at $145-$150/mt CFR, with no transactions confirmed.
Rondonópolis prices followed the urea market lower. Deals tracked in the $270-$275/mt FOB ex-warehouse range, down from last week’s $270-$295/mt FOB, with higher offers reportedly failing to transact.