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Sinor Chemical Industry Co. Ltd.

Management Briefs

Sinor Chemical Industry Co. Ltd. (Sinorchem), Hangzhou City, Zhenjiang Province, China, reports that Andrew Semple has been named business manager for NBPT in North and South America and the European Union. Sinorchem is a producer of NBPT, a nitrogen stabilizer for urea. It manufactures chemicals for agriculture, pharmaceuticals, intermediates, and electronics, as well as fluoro chemicals.

Semple was most recently CEO of Eco Agro Resources LLC, a producer of NBPT-formulated products for the global market. Previously, he worked for Agrotain International, a nitrogen stabilizer company, which was later acquired by Koch Agronomic Services in 2011.

Semple can be reached at andrew@sinorchemical.com.

Transportation

Arkansas River, Illinois River, Lower Mississippi River, Ohio River, Transportation, U.S. Gulf, Upper Mississippi River

U.S. Gulf: Elevated water levels were reported in the Gulf shipping region last week, leading to towing restrictions and associated transit delays, particularly in the southbound direction.

The Baton Rouge gauge was clocked in the minor-flood stage at 36.7 feet on March 17, and the NWS issued a March 16 flood warning for the area. Levels were forecast to peak at 37 feet on March 19 before slowly tapering off.

The gauge at Natchez showed levels approaching the 51-foot moderate-stage flood zone, registering at 50.56 feet on March 17. The New Orleans gauge read 14.33 feet on that date, below the 17-foot minimum flood stage.

Shippers quoted Algiers Lock wait times were in the range of 12-23 hours on an average 25 boats waiting for service. The delays were attributed to work underway at Harvey Lock, with the Corps routing traffic through Algiers until April 30.

Transit through Bayou Sorrel Lock was called 6-10 hours for the week with six vessels in the queue. A differential of greater than three feet between the lock’s flood- and land-side gauges triggered towing restrictions at the lock. Industrial Lock navigation was called 4-10 hours with 13 boats in line, and Port Allen Lock delays were quoted in the 8-13 hour range with 13 tows waiting to lock.

Industrial Lock is scheduled to close for approximately 90 days in fall 2016. The Corps has not yet released a start date for the closure. Sources said a lack of funding has forced the Corps to back off from plans to dredge the Baptiste Collette channel for use as an alternate route during the shutdown. The project is expected to proceed without a viable detour in place, sources said.

High water levels closed both the Charenton and East Calumet Floodgates again last week, and elevated readings in the West Calumet Floodgate’s east gauge closed that structure.

Calcasieu Lock navigation carried a 1-3 hour delay for the week. Travel clearance through the West Port Arthur Bridge is reduced by a minimum three feet until April 30. Painting and maintenance operations were in progress at the site, sources said.

Dredging in the West Canal snagged traffic in the Galveston area, shippers said. The work has narrowed the channel to approximately 70 feet of navigable width, prompting some shippers to switch to daylight-travel-only through the site.

Wait times of 10-16 hours were reported at Brazos Lock for the week, where an average 16 vessels were queued for service. An intermittent shutdown warning has been extended through April 29 at the site. Repairs to both the east and west floodgates could unexpectedly halt navigation during daylight hours, Monday through Friday.

Lower Mississippi River: High water levels were reported on the Lower Mississippi, starting at Cairo and extending through to the Gulf.

Both a flood warning and flood advisory were issued for the Vicksburg area on March 16. Vicksburg depths were reported at 43.08 feet on March 17, above the 43-foot minimum flood stage. The NWS expected levels to recede slowly, sliding below flood stage on March 18-19.

Memphis was also subject to a flood warning on March 16.

Upper Mississippi River: Lock times at the Upper Mississippi’s Lock 27 were reported in the 2-4 hour range last week, with two vessels in line to lock on March 17. Lock 20 traffic waited 1-2 hours for service, shippers said. Mel Price Lock also reported delays of 1-2 hours.

Lock 9 opened for spring transit on March 12, and shippers expected to see St. Paul-area locks reopen for the season by late in the week. The Upper Mississippi’s northernmost lock, Lock and Dam 5A, started operations on March 15, but the St. Anthony Falls Upper and Lower Locks had not yet opened to traffic on March 17.

The St. Louis river gauge read 13.84 feet and rising on March 17, with forecasts calling for a 17.5-foot crest on March 23-24.

Illinois River: The Corps reported wait times at the Thomas J. O’Brien Lock as high as 12 hours for the week. Dresden Island Lock transit fell in the 1-2 hour range, and Marseilles Lock delays were quoted at 90 minutes.

Starved Rock Lock and Dam reported delays of 1-4 hours for the week, and wickets were lowered at the LaGrange and Peoria Locks, allowing vessels to pass without locking.

Ohio River: Healthy Ohio River levels allowed Locks 52 and 53 to lower wickets, allowing tows to pass at will. Congestion nevertheless pushed transit through Lock 53 to the 1-2 hour range, while Lock 52 passage was possible in minutes. Montgomery Lock and Dam reported waits in the 1-2 hour range.

Levels in the Cincinnati area flirted with the 40-foot action stage last week, reading 39.76 feet on March 17. NWS predictions called for depths to touch the 39.9-foot mark on March 18 before dropping precipitously. Cairo levels were flat at 37.02 feet on March 17, higher than the gauge’s 35-foot action stage. Flood stage at Cairo starts at 40 feet.

The auxiliary chamber at Montgomery Lock shut down on March 14 and is scheduled to reopen April 1. Montgomery’s main chamber is slated to close May 16 through June 10, but will reopen to pass waiting traffic on May 28-29 and June 4-5.

A Greenup Lock main chamber closure slated to begin April 1 is expected to cause “major delays,” shippers said. The shutdown will extend through Sept. 30, forcing all navigation through the auxiliary unit.

The New Cumberland Lock auxiliary chamber will go offline April 4 through May 27, with temporary openings slated for April 16-17, April 30 through May 1, and May 15-16.

Significant delays are expected at Emsworth Lock starting July 5, thanks to a shutdown planned through Aug. 10. The lock will pass queued traffic on July 16-17 and July 30-31.

A March 21 closure of the Tennessee River’s Wilson Lock main chamber could trigger daily transit delays of eight hours, shippers said. The closure is scheduled to run through March 25, and shippers warned that the auxiliary chamber would not be available for use. An intermittent closure warning remained in place at Chickamauga Lock, where maintenance is scheduled through April 20.

On the Monongahela River, the Braddock Lock and Dam river chamber remained unavailable due to an ongoing equipment failure, forcing vessels through the site’s land chamber. Charleroi Lock is set to shut down completely Aug. 21 through Sept. 29.

Arkansas River: Tow lengths returned to normal for the week, shippers said, after heavy rains prompted restrictions the week before.

Webbers Falls Lock is scheduled to undergo an upstream closure on May 16-22, followed by a shutdown in the downstream direction from Aug. 24 through Sept. 11.

Crops/Weather

Crops/Weather, Eastern Cornbelt, South Central, Southeast, Southern Plains, Western Cornbelt

Grain Futures: As of 4:00 p.m. on March 17, corn and soybean futures were higher compared to the week before, but wheat was down.

May 2016 corn was posted at $3.685/bushel, up from $3.6275/bushel, while corn for December 2016 firmed to $3.8725/bushel from $3.81/bushel the week before. Contracts for March 2017 corn were $3.96/bushel, up from $3.8975/bushel at last report.

Soybean prices for May 2016 were $8.9775/bushel, up from $8.8925/bushel the week before. November 2016 soybeans firmed to $9.0925/bushel from the previous week’s $9.0075/bushel. January 2017 soybeans were $9.135/bushel,
up from $9.0525/bushel at last report.

July 2016 wheat punched in at $4.7075/bushel, down from $4.8325/bushel the week before, while September 2016 wheat contracts slipped to $4.95/bushel from the previous week’s $5.06/bushel. Wheat for July 2017 was $5.4025/bushel, down from $5.51/bushel a week earlier.

Eastern Cornbelt: Much of the Eastern Cornbelt was wet at midweek after powerful storms hammered the region with torrential rains, large hail, and damaging winds.

The National Weather Service (NWS) said 10 tornadoes were confirmed in Illinois on March 15, while four were confirmed in Ohio one day earlier. Parts of the region were also hit with golf-ball-sized hail during the week.

Western Cornbelt: Powerful thunderstorms moved across Iowa and northeastern Missouri at midweek, producing strong winds, large hail, and at least three confirmed tornadoes. The heaviest storm activity was observed in southeastern Iowa, where 70 mph winds and three-inch hail were reported.

A Missouri source said his location received four inches of rain early in the week, stalling field activities. He said growers were hoping to be working high ground and sandy soils again by the weekend. He noted that many areas had considerable spring volumes to make up after a lackluster fall application season.

Southern Plains: Texas continued to be the scene of severe weather at mid-month. While eastern areas of the state remained flooded from torrential rains the week before, another powerful storm system brought large hail and damaging winds to the Fort Worth area on March 17.

The moisture interrupted corn and sorghum planting in parts of Texas, but other areas of the Southern Plains saw considerable fieldwork in mid-March. Kansas sources also reported some scattered corn planting last week, with one source saying corn planting should be going full throttle by the third week of March.

One Kansas source said his location saw record movement during the month of February, with most of the preplant ammonia demand winding down in the region and pasture and wheat fertilization also well advanced. USDA rated 56 percent of the Kansas winter wheat crop as good or excellent as of March 13.

South Central: Torrential rains caused widespread flooding throughout the South Central region at mid-month. The storms also produced at least three confirmed tornadoes in Arkansas on March 13, as well as tornado watches in Tennessee, while Kentucky experienced colder temperatures and gusty winds as the week progressed.

Parts of north and central Louisiana were hit with up to 24 inches of rain over several days in mid-March, while areas of southeastern Texas collected more than a foot of rainfall. One Tennessee contact said rainfall totals in his trade area ranged from 4-14 inches at mid-month, while an Arkansas source estimated 5-20 inches across the Delta region.

The moisture pushed numerous rivers from their banks, including the Sabine River, which flooded portions of Interstate 10 on the Texas-Louisiana border.

Disaster declarations were in effect for all of Louisiana and nearly 20 Texas counties due to flooding, and also for 16 Arkansas counties, where up to 14 inches of rain fell. News reports said nearly 5,000 homes in Louisiana were damaged and more than 4,200 people were evacuated in the state. Extensive flooding was also reported along the Pearl River in western and northwestern Mississippi, prompting road closures and evacuations.

The heavy rainfall stalled fieldwork in the South Central region. “We have flooding problems,” said one contact. “It will be a while before we get going again.” One source said rowcrop ground in his trade area will need at least a week of dry weather before any fieldwork begins, while spreading activity on pastures could begin sooner.

Southeast: Much of the Southeast experienced weekend rainfall followed by warm, sunny weather at mid-month. Regional sources said preplant fertilizers were “running hard” as the week progressed, but incoming weather was threatening to stall activity in some locations. “I’m just glad to see things start moving and get this season underway,” said one contact.

Sulfuric Acid

Market Watch, Sulfuric Acid, U.S. Gulf

U.S. Gulf: Sources described a slow week on the sulfuric acid market. “The market is very quiet,” said one market player. “No supply disruptions, no demand changes.”

Price ideas for Gulf-delivered cargoes fell in the $35-$45/mt CFR range, unchanged from the previous report. Prices to Brazil were similarly unmoved at $35-$45/mt CFR, and acid vessels bound for Chile were expected to command $45-$60/mt CFR. Tons offered from smelters in Northwest Europe were quoted in the (-)$5-$5/mt FOB range.

Century Aluminum Co. has set an April deadline to reach a cost-cutting deal on electricity bought for its Mount Holly, S.C., smelter, the company announced in its quarterly and annual earnings report. Without a new deal with state-owned utility Santee Cooper, the smelter is expected to close at the end of May, sources said.

The Mount Holly plant was originally slated to shut down at the end of 2015, but Century cut production by 50 percent to extend talks with Santee Cooper. The facility reported a net loss of $59.3 million in 2015, citing high electricity costs, the weak aluminum market, and overproduction from Chinese producers.

London Metal Exchange prices were mixed at the March 16 close. Aluminum, lead, nickel, and zinc were lower compared to the week before, but copper was up.

Aluminum closed at $1,495.00/mt, down from $1,564.00/mt the week before, and copper was reported at $4,945.00/mt, up from $4,935.50/mt at last report.

Lead values softened to $1,768.00/mt from $1,858.00/mt, and nickel dropped as well, slipping to $8,460.00/mt from the prior week’s $8,785.00/mt. Zinc was also down, closing at $1,738.50/mt, compared with $1,798.00/mt a week earlier.

Sulfur

ADNOC - Abu Dhabi, Aramco, Market Watch, Sulfur, Tampa, Tasweeq, U.S. Gulf, Vancouver, West Coast

Tampa: Speculation on the second-quarter contract price of molten sulfur delivered to Tampa continued at full tilt last week.

A weakening U.S. Gulf prill market, along with rumored cuts to Middle East spot offers, led more market players to voice expectations of a $20-$30/lt drop from the first-quarter contract price of $95/lt.

Describing current market conditions as “gloomy,” some nevertheless held to predictions of a $10-$15/lt decrease, putting overall speculation on a second-quarter settlement in the $65-$85/lt range.

Refinery utilization ticked lower for the week, according to the U.S. Energy Information Administration (EIA). Capacity was reported at 89.0 percent for the week ending March 11, just slightly below the previous week’s 89.1 percent, but above the year-ago 88.1 percent and the five-year average of 85.3 percent.

The EIA put average daily crude inputs higher for the week. Refiners processed an average 15.996 million barrels/d, up 85,000 barrel/d from the previous week’s 15.911 million barrels/d.

U.S. Gulf: Observers noted a declining Gulf sulfur market last week. Price ideas slipped to the $70-$75/mt FOB range, sources said, down from $75-$80/mt FOB at last report.

Vancouver: The Vancouver formed sulfur market continued to be quoted at $75-$85/mt FOB for both contract and spot, although some market players anticipated a downward move in the near-term. “Vancouver is holding, but I wouldn’t bet on it lasting,” said one source.

Traders tended to put the market in the $80-$85/mt FOB range, while some producers called levels down to $75/mt FOB.

The Chinese spot market continued to be called $85-$90/mt CFR.

Netbacks to Alberta producers fell in the (-)$27-$60/mt FOB range, unchanged from the week before.

West Coast: Sources called the West Coast prill market flat at $70-$80/mt FOB. Molten contracts fell in the $65-$115/lt FOB range for the first quarter.

ADNOC: The price of Abu Dhabi National Oil Co. prill was $88/mt Ruwais for March. ADNOC sulfur was offered at $105/mt FOB in February.

Aramco: Middle East offers continued to slip heading into the second quarter. Saudi Aramco announced April pricing of $85/mt FOB Jubail last week, a $5/mt decrease from $90/mt in March.

Tasweeq: The March price of Qatar formed sulfur was listed as $87/mt FOB Ras Laffan, a $2/mt drop from February’s $89/mt FOB level.

Potash

Brazil, China, Eastern Cornbelt, India, Market Watch, Northwestern Europe, Potash Muriate, South Central, Southeast, Southeast Asia, Southern Plains, U.S. Gulf, Western Cornbelt

U.S. Gulf: Prompt barges continued to be called $180-$190/st FOB, with unconfirmed reports that trades may have occurred as low as $175/st FOB.

Eastern Cornbelt: The potash market remained at $235-$245/st FOB in the region.

Western Cornbelt: The potash market was quoted in a broad range at $225-$245/st FOB in the Western Cornbelt, with the low confirmed in the St. Louis, Mo., market for new sales. One Missouri source pegged the warehouse market at $330-$335/st FOB in his trade area at mid-month.

Southern Plains: The potash market FOB Catoosa, Okla., was quoted at $230-$240/st FOB, down another $5-$10/st from last report. The most recent reference prices FOB Carlsbad, N.M., were quoted at $260-$267/st FOB, depending on grade.

SOP Magnesia FOB Carlsbad remained at $350-$355/st to the dealer.

South Central: The potash market was pegged at $230-$240/st FOB warehouses in the South Central region, down another $10/st from last report.

Southeast: Southeast sources quoted the potash market at $240-$245/st FOB port terminals in the Southeast, with reports of truckload sales concluded recently at $244/st FOB Morehead, N.C. Delivered potash was pegged at $242-
$252/st in the region, depending on grade and location.

Belarus: Belarus Potash Co. (BPC) said it expects a 30 percent fall in sales in the first quarter of 2016 due to the weak potash market, but did not quantify volumes. According to local media, Belaruskali’s production was down by more than one third year-over-year in January, at 544,000 mt.

Northwest Europe: With temperatures picking up across the region and the start of spring application anticipated, demand is said to be improving. Despite the uptick in interest, prices for granular potash were quoted lower at €275-€290/mt CIF.

India: The market remained quiet following the government’s decision last month to halt potash imports for the remainder of the fertilizer year, which ends on March 31 (GM Feb. 19, p. 8).

Imports of potash for direct application this fertilizer year stood at 3.102 million mt by the end of February, according to India’s Department of Fertilizers. That level falls well short of the estimated 4.5 million mt of firm quantities buyers agreed to under annual import contracts last May. This fertilizer year’s imports also are 26 percent less than the 4.197 mt imported for direct application in 2014/15.

Potash inventories remain high, and participants here are awaiting the announcement on final potash subsidies (GM March 4, p. 13). As previously reported, the country’s potash buyers will delay negotiations with suppliers for 2015/16 contract purchases, and according to some sources here, talks may not get underway until June.

No news was reported on MMTC’s tender for 1,350 mt +/-10 percent of potassium sulfate in bags for first-half April delivery. The tender closed on March 11 (GM March 11, p. 9).

China: Potash inventories remain high and demand slow, with no news of 2016 contract talks. Some sources said discussions could get started at an upcoming fertilizer conference in Beijing next month.

Southeast Asia: The current tendering season in Malaysia and Indonesia is now largely complete, with the next round of buying anticipated to start in the second half of May for second-half 2016 delivery. Some supplier sources put current prices for standard potash in these two markets in the $265-$275/mt CFR range. However, local buyer sources assessed prices at no more than $260/mt CFR.

Sources report that Vietnam remains one of the most active markets in the region. BPC said it recently sold 25,000 mt of granular potash to the country at the $315/mt CFR level. BPC said it has sold a further 25,000 mt of granular material to Thailand at the $300/mt CFR level.

Brazil: Demand has reportedly shown some improvement, with sources reporting prices finally starting to bottom out. One supplier source said granular prices dropped to as low as $220/mt CFR for March, but are now moving to $230/mt CFR.

Other sources said suppliers are targeting prices of $240/mt CFR and above for April-May shipments, with one supplier claiming April cargoes were committed at the $240/mt CFR level and May cargoes are now under discussion.

Phosphates

Brazil, Central Florida, China, Eastern Cornbelt, India, Market Watch, Middle East, Phosphate Rock, South Central, Southeast, Southern Plains, U.S. Exports, U.S. Gulf, Western Cornbelt

Central Florida: Central Florida sellers reported a softer market last week. Sales of truck-loaded DAP were quoted in the $360-$365/st FOB range, a decline from $370/st FOB at last report.

MAP was reported at a $10-$15/st FOB premium to DAP, placing that product in the $370-$380/st FOB range, down from $380-$385/st FOB the week before.

U.S. Gulf: Facing down a number of vessels poised for imminent arrival at NOLA, phosphate prices struggled for direction last week. “DAP is quite funky,” said one contact.

Open origin DAP was quoted at $327/st FOB on March 14 before tumbling to $315/st FOB on March 16, down from the previous week’s bids of $335/st FOB. The trades were all said to have been marketed as either “open origin” or “open origin, non-Chinese,” although many market players speculated that the tons were of either Russian or Moroccan origin.

“Non-Chinese” barges were also quoted as high as $335/st FOB for the week, while domestic producers announced DAP barges at $350-$355/st FOB on the high side of the range.

The wide range prompted debate regarding the actual state of the market. Some accepted the spread as representing a broad range of demand. “On phosphates, we’re seeing a huge spread between open origin and domestic,” said one trader. “We have bought the high ends on both.”

Others, however, said the market could only be heading downward. “(Why would) someone pay $355/st for a (domestic) barge when they can buy Russian or OCP for $40/st less?” argued one market player. “I can’t imagine there is much liquidity at that level,” added another source.

As many as seven import cargoes were expected before late March or early April, including material from EuroChem, PhosAgro, and OCP. No new Chinese cargoes were anticipated for spring, although sources said Chinese offer levels continued to close the gap on NOLA. “I’m hearing you can get Chinese DAP for $340/st now,” said one contact.

Open origin MAP fell in concert with DAP, with prices called as low as $325/st FOB on March 17. Domestic sales were confirmed at $372/st FOB.

Meanwhile, April DAP paper was called in the $321-
$326/st FOB range, with May paper quoted at $315-
$320/st FOB.

The NOLA DAP barge market was reported in a wide range of $315-$355/st FOB, a change from $335-$350/st FOB at last report. MAP was quoted at $325-$372/st FOB, compared with $345-$365/st FOB the week before.

Eastern Cornbelt: DAP was pegged at $380-$390/st FOB in the Eastern Cornbelt, with MAP quoted in the $390-$410/st FOB range for limited tons in the region. One Illinois source pegged the spot MAP market at the $405/st FOB level in his trade area last week.

The 10-34-0 market remained at $510/st FOB in the Eastern Cornbelt.

Western Cornbelt: DAP pricing was firm at $380-
$390/st FOB in the Western Cornbelt, with MAP pegged at
$400-$420/st FOB and in tight supply in the region.

10-34-0 was steady at $475-$500/st FOB in the region, with the low in Nebraska and the upper end in Iowa and Missouri.

Southern Plains: DAP pricing was quoted in a broad range at $380-$400/st FOB Catoosa, with tons described as “limited but available.” MAP was in very tight supply at the port, with sources quoting the spot market as high as $415-$420/st
FOB for limited tons, up a full $15-$20/st from last report.

10-34-0 was pegged at $470-$475/st FOB in the Southern Plains, down some $5-$10/st from last report.

Agrium’s March 1 phosphoric acid postings were unchanged from February levels, with rail-DEL SPA and MGA referenced at $1,050/st of P2O5 in Iowa, Minnesota, Missouri, Nebraska, and Kansas; and $1,065/st of P2O5 in North Dakota, South Dakota, Oklahoma, and Texas.

South Central: DAP was reported at $375-$380/st FOB out of warehouses in the South Central region, up some $10-$20/st from three week earlier, depending on location. Sources pegged the Memphis DAP market firmly at the $375/st FOB level for new sales last week.

TSP was pegged at $335-$340/st FOB regional terminals.

Southeast: The Aurora, N.C., DAP market remained at $390-$400/st FOB for new business.

U.S. Export: Mosaic announced sales of DAP and MAP into Latin America last week. The transactions totaled 7,000 mt and were bound for “various markets,” sources said. The cargoes carried a $360/mt FOB Tampa price for DAP and were slated to ship in April.

The Gulf export market remained unchanged at $360/mt FOB.

The first-quarter price of phosphoric acid sold to India was $715/mt CFR, down $95/mt from $810/mt CFR in second-half 2015.

Brazil: Sources described a quiet Brazil MAP market. “We haven’t heard anything getting done in Brazil this week,” said one trader. Last-done was quoted in the $360-$365/mt CFR range.

Saudi Arabia: A recent Saudi Arabian DAP transaction was quoted in the $335-$340/mt FOB range.

China: Sources reported prices all over the board. One trader quoted prices in the low-$330s/mt FOB, while another called the market in the mid-$340s/mt FOB. Where there is agreement is in the weak nature of the DAP market.

Sources said large stockpiles of DAP in India are hindering efforts by Chinese producers to get prices moving up on large sales. Even though Indian buyers are hesitant to commit to any purchases until the new fiscal year starts on April 1, sources said their pricing ideas are closer to $330/mt FOB.

Sources reported that some MAP business with Brazil ran into a snafu when Chinese producers were not happy with the price negotiated. Sources said bids for Chinese MAP are in the $280s/mt FOB, with producers asking $290/mt FOB. For now, producers say there is enough strength in the domestic market that they don’t have to lower their prices.

India: Producers are trying to close some late-March deals with Indian buyers before the new subsidy regime takes effect April 1. One trader said the producers are really hoping to seal their deals before prices slip.

India already has about 2.5 million tons of DAP on hand. Sources have said the country is in no rush to buy more. This situation, however, has not stopped Ma’aden and Chinese producers from offering material at a $345/mt FOB China equivalent price.

The potential buyers are less than enthusiastic about that price, however. They point to other possible deals in the $330s/mt FOB.

India will have to look at DAP purchases soon, said one trader, because phos acid talks have stalled with a $60-$80/mt difference between the buyers and sellers. OCP is reportedly offering at $610/mt CFR, while the bids are at $670-$690/mt CFR.

Ammonium Sulfate

Ammonium Sulfate, China, Eastern Cornbelt, Market Watch, South Central, Southeast, Southern Plains, Western Cornbelt

Eastern Cornbelt: The granular ammonium sulfate market was reported in a broad range at $230-$280/st FOB in the Eastern Cornbelt, with the low confirmed out of spot river locations for import tons and the upper end for domestic product.

Ammonium thiosulfate was unchanged at $325-$335/st FOB in the region.

Western Cornbelt: Granular ammonium sulfate pricing was unchanged at $240-$255/st FOB in the Western Cornbelt, with the lower numbers reported in southern Missouri.

Ammonium thiosulfate remained at $295-$325/st FOB in the region.

Southern Plains: Granular ammonium sulfate was unchanged at $240-$275/st FOB in the Southern Plains, depending on location, with coarse and standard grade priced $10/st and $20/st lower than granular, respectively.

Ammonium thiosulfate was steady at $285-$295/st FOB in the region.

South Central: Granular ammonium sulfate remained at $245-$260/st FOB in the South Central region, with the low at Memphis and the upper end out of Arkansas River terminals on a spot basis.

The regional ammonium thiosulfate market was steady at $295-$325/st FOB, depending on location.

Southeast: The granular ammonium sulfate market was quoted at $265-$275/st FOB in the Southeast, with delivered tons steady at $290/st DEL in the Carolinas, $300/st DEL in Georgia and Alabama, and $305/st DEL in Florida.

Reference pricing for standard grade ammonium sulfate was unchanged at $200/st DEL in Florida.

China: Sources report a bit of tightness in the market, with prices around $110-$115/mt FOB for basic ammonium sulfate. The industrial cutbacks in China, said one trader, apparently have not had a significant impact on supplies.

Ammonium Nitrate

Ammonium Nitrate, Market Watch, South Central, Southeast, Southern Plains, U.S. Gulf, Western Cornbelt

U.S. Gulf: The market was called $200-$210/st FOB, with some arguing that prices may be lower.

Western Cornbelt: Ammonium nitrate was steady at $275-$280/st FOB in the Western Cornbelt.

Southern Plains: The ammonium nitrate market was quoted at $250-$260/st FOB Catoosa.

South Central: Ammonium nitrate was steady at $265-$270/st FOB terminals in the South Central region.

Southeast: Ammonium nitrate was quoted at $265-$275/st FOB Tampa for truck tons, reflecting a drop of $25-$30/st from last report.

Nitrogen Solutions

Eastern Cornbelt, Market Watch, South Central, Southeast, Southern Plains, U.S. Gulf, UAN, Western Cornbelt

U.S. Gulf: The most recent NOLA barge business was put in the $185-$195/st ($5.78-$6.09/unit) FOB range, with prices appearing to stair-step up each week.

Most are calling the East Coast vessel market $215/mt CFR, with quotes now at $225/mt CFR.

Eastern Cornbelt: The UAN-28 market remained in a broad range at $197-$219.80 ($7.04-$7.85/unit) FOB in the Eastern Cornbelt, with the low out of spot river locations and the upper number inland. Illinois sources continued to quote the UAN-32 market at $244.80-$246.40/st ($7.65-$7.70/unit) FOB for new business.

Western Cornbelt: The UAN-32 market remained at $240-$250/st ($7.50-$7.81/unit) FOB in the Western Cornbelt.

Southern Plains: UAN-32 supplies were described as very tight in the Southern Plains, with sources reporting that regional suppliers were not offering any tons for prompt ship and were only quoting prices for April delivery. Price levels for April tons fell in the $225-$245/st ($7.03-$7.66/unit) range FOB regional terminals, up $5-$15/st from last report, with the lower end of the range reported at Enid and Verdigris, Okla.

South Central: UAN-32 was pegged at $225/st ($7.03/unit) FOB most terminals in the South Central region, up $10-$20/st from last report.

Southeast: The UAN-32 market in the Southeast had reportedly strengthened to $215-$220/st ($6.72-$6.88/unit) FOB port terminals for March tons, up a full $30-$35/st from the low end of the range just three weeks earlier. One supplier was reportedly not extending pricing beyond March due to tight supplies and strong demand.

The low end of the regional UAN-32 range was pegged at $205/st ($6.41/unit) out of inland terminals in Georgia, with sources reporting “lots of field activity” at mid-month.