US Gulf:
The NOLA barge market for ammonium sulfate continued at a nominal $385-$390/st FOB, with no new business reported during the week.
Eastern Cornbelt:
Granular ammonium sulfate was unchanged at $415-$435/st FOB in the Eastern Cornbelt, with the low confirmed for limited tons out of Illinois River locations and the high at Cincinnati.
Western Cornbelt:
The granular ammonium sulfate market was unchanged at $410-$430/st FOB in the Western Cornbelt, with the low reported at St. Louis.
California:
The ammonium sulfate market dropped slightly to $375-$405/st FOB in California, with the low reported at Richvale and Helm and the high at French Camp.
Pacific Northwest:
Ammonium sulfate was unchanged at $365-$420/st FOB or DEL in the Pacific Northwest, depending on grade and supplier.
Western Canada:
Ammonium sulfate pricing in Western Canada dropped to C$450-$460/mt DEL for July-August offers, down from C$510-$520/mt DEL for the last prompt June business.
Northwest Europe:
Standard ammonium sulfate prices in Northwest Europe were stable at $160-$170/mt FOB amid thin trading. Producers are said to be comfortable through July. Granular ammonium sulfate moved $5/mt higher, however, to $210-$225/mt FOB.
China:
Discussions among traders and producers centered on pricing firmly in the $140s/mt FOB during the week. However, a buying tender out of the Philippines that closed late in the week showed prices in the upper-$130s/mt FOB. At the same time, selling tenders out of China put prices in the low-$140s/mt FOB.
Atlas, in the Philippines, closed a tender for 6,000 mt of caprolactam grade amsul for shipment by Aug. 5, with the lowest offer reported just under $170/mt CFR. With a requirement for delivery to be split between two ports, sources put freight costs around $30/mt, leaving a netback to China in the upper-$130s/mt FOB.
On the heels of the Atlas deal, TCC closed a selling tender for 10,000 mt of capro grade amsul to be shipped in late August or first-half September. The price worked out to the low-$140s/mt FOB. This price matches up with another tender by SCC, also for 10,000 mt, to be shipped in August.
Producers argued prices should see a rebound in September in response to expectations that Brazil will be stepping up its amsul demand. Some Southeast Asian buyers are projected to be seeking more tons as well, though Brazilian demand will likely be the market’s largest driver, one source noted. While Asian demand can boost prices, the source argued, that demand is less sustainable than Brazilian business.
Thailand:
Thailand imported 244,000 mt of ammonium sulfate in January-May, Trade Data Monitor reported,a significant increase from the 87,000 mt received during the first five months of 2023, with 98% of the tonnage coming from China. May imports were 21,000 mt, a slight uptick from the 20,000 mt purchased in May 2023.
Turkey:
With limited Chinese material reportedly available to buyers outside of Brazil or Southeast Asia after April, Turkey’s May imports showed product coming only from European suppliers. Turkeyimported 44,000 mt for the month, with all of the material sourced from Italy, Finland, and Spain. May 2023 imports were reported at 51,000 mt.
January-May imports were 494,000 mt, off 9% from the 540,000 mt received through the same period of 2023. Despite a complete lack of Chinese amsul in Turkey’s May import data, China remained the top year-to-date supplier with 385,000 mt, accounting for 78% of the five-month total.
Brazil:
Granular ammonium sulfate imports fell $5/mt at the bottom of the range to $185-$195/mt CFR, with buyers seeking only minimal volumes during the week. Inland pricing lost $5/mt at the low side, slipping to $305-$330/mt FOB Rondonópolis.
Amsul demand remained mild, in line with the broader nitrogen market. The July import lineup is expected to total 340,000 mt, a nearly 20% increase from the same period in 2023. While the industry continues to await Brazil import data for June, imports were up 5% for January-May.