Eastern Cornbelt:
The 10-34-0 market remained at $515-$525/st FOB for the latest fill offers in the Eastern Cornbelt.
Western Cornbelt:
10-34-0 was steady at $520-$530/st FOB in the Western Cornbelt, depending on location.
Northern Plains:
The 10-34-0 market was quoted at $530-$540/st FOB in the Northern Plains for the last offers.
Northeast:
10-34-0 was unchanged at the $540/st FOB level in New York.
US Gulf:
The NOLA potash market was reported at $265-$275/st FOB during the week, based on recent trades and the latest indications for new barge business.
US Imports:
July potash imports totaled 1.10 million st, a 27.9% increase from 857,695 st in July 2023. Imports from Canada were reported at 977,048 st, while Russia sent 65,140 st and Israel added 43,594 st.
US Exports:
Potash exports for July rose 90.1% year-over-year, to 351,238 st from 184,745 st. Exports to Brazil totaled 129,434 st, followed by 95,621 st to China, 53,740 st to South Korea, and 23,244 st to Colombia.
The potash market continued at $315-$335/st FOB in the Eastern Cornbelt, with the Cincinnati market pegged at the $320/st FOB level in early September.
Western Cornbelt:
Potash was steady at $315-$330/st FOB in the Western Cornbelt, with the low reported at St. Louis.
Northern Plains:
The potash market was unchanged at $325-$335/st FOB and $330-$345/st DEL for the last offers in the Northern Plains. Potash FOB Saskatchewan mines remained at the $315-$336/st FOB level, depending on grade.
Northeast:
Potash in the Northeast was steady at $320-$335/st FOB, with the low reported at Baltimore and the high at East Liverpool. Delivered potash was unchanged at $335-$345/st in the region, depending on location.
Eastern Canada:
Potash pricing in Eastern Canada continued at C$515-$545/mt FOB for red granular MOP, unchanged from last report.
Southeast Asia:
Minimal activity was reported in the Southeast Asian potash market. Reports suggest that the recent Indonesian tender for 145,000 mt of standard potash will be scrapped after receiving bids of $303-$304/mt CFR, significantly above current market levels of $280-$290/mt CFR.
Demand in Malaysia is currently sluggish but a few tenders by palm oil growers are expected soon. Offers into Vietnam and Thailand are at range-bound prices, with limited buyer interest. Standard potash remained at $280-$290/mt CFR this week, with granular also unchanged at $330-$340/mt CFR.
Brazil:
The Brazil potash market held steady at $290/mt CFR. Some market participants reported downward pressure, however, citing rumors of Chilean product available at $285/mt CFR. Domestic prices fell in the $410-$430/mt FOB Rondonópolis range.
Following several months of high import volumes, August potash imports fell nearly 300,000 mt year-over-year, to 1.33 million mt, an 18% decline. The lower volumes were primarily attributed to reduced volumes from Canada, which faced export difficulties last month. Russia shipped 480,000 mt, Canada added 435,000 mt, and Uzbekistan sent 250,000 mt.
Brazil imported 9.94 million mt in January-August, a nearly 14% increase compared to 2023. Despite its challenges, Canada led importers with 3.6 million mt, followed by Russia with 3.5 million mt. August imports were 1.3 million mt, an 18% decline from the 1.6 million mt received in August 2023.
Tampa:
Tampa molten sulfur contracts were noted at $76/lt CFR for the third quarter, down 6.2% from $81/lt CFR in 2Q.
US Gulf:
US Gulf sulfur prices continued at $105-$115/mt FOB. Minimal activity was reported during the week due to Hurricane Francine, and no refinery damage or production interruptions were reported as of Sept. 12.
Brazil:
Despite rising FOB values out of the Arab Gulf in September, new Brazil sulfur import business reportedly concluded within last week’s $135-$140/mt CFR range.
Vancouver:
Vancouver prill prices were noted at $105-$110/mt FOB, up $5/mt from the prior $100-$105/mt FOB range.
Alberta:
Alberta netbacks increased $5/mt at the top of the range to settle at (-)$39-$40/mt FOB. The wide range included both molten sulfur cargoes contracted into the US market and prilled tons exported through the Vancouver market.
West Coast:
West Coast solid sulfur exports moved up in line with Vancouver, to $105-$110/mt FOB. Third-quarter molten contracts were reported at $58/lt FOB, falling from $60-$62/lt FOB in the second quarter.
China:
China sulfur imports softened to $140-$146/mt CFR, sources said, down from $142-$147/mt CFR at last report. Prices in Indonesia were reported at $143-$145/mt CFR and India was said to have traded at $144/mt CFR.
Given offers posted in the upper-$120s/mt FOB in the Middle East, sources described current prices in China, Indonesia, and India as falling below the replacement level.
ADNOC:
Abu
Dhabi National Oil Co. (ADNOC) sulfur offers were posted at $130/mt FOB Ruwais
for September loading, a 21.5% increase from $107/mt FOB in August.
Qatar:
Muntajat posted prices for September were noted at $125/mt FOB Ras Laffan, up $19/mt from August’s $106/mt FOB posting.
US Gulf:
US Gulf sulfuric acid imports were steady at $130/mt CFR, sources noted.
Brazil:
Brazil sulfuric acid prices continued at $160-$165/mt CFR, unchanged from the prior report.
Eastern Cornbelt:
The ammonium thiosulfate market was pegged at $240-$270/st FOB in the Eastern Cornbelt, with the low reported at Cincinnati and the high in Indiana.
Western Cornbelt:
Ammonium thiosulfate was unchanged at $250-$275/st FOB in the Western Cornbelt, with both the high and low reported in Iowa.
Northern Plains:
The ammonium thiosulfate market was pegged at $270-$280/st FOB for the latest offers in the Northern Plains.
Eastern Canada:
The ammonium thiosulfate market tightened to C$465-$480/mt FOB in Eastern Canada, down sharply from the prior C$480-$545/mt FOB range.
Germany:
CAN activity in Germany resumed with several small deals concluded in the €275-€285/mt CIF range. Market players are divided on the direction of prices going forward, with bulls citing firm ammonia prices and bears looking at Russian supply availability. Coverage is lower than usual, with some expecting a wave of buying when the weather cools down.
CAN prices moved higher this week, to €275-€285/mt CIF.
Cornbelt:
NPSZ pricing in the Cornbelt was unchanged at $710-$750/st FOB, depending on location.
US Imports:
SOP imports slipped 21.7% in July, to 2,636 st from 3,366 st in July 2023. Canada led July imports with 2,033 st, beating 332 st from Belgium and 102 st from the Netherlands.
US Exports:
July SOP exports rose 60.5%, to 1,960 st from the year-ago 1,221 st. Mexico purchased 1,713 st of US product for the month, followed by Canada with 198 st and Ecuador with 40 st.
Eastern Canada:
SOP remained in a broad range at C$1,085-$1,200/mt FOB in Eastern Canada, depending on grade and location.
Eastern Canada:
SOP Magnesia firmed to C$685-$690/mt FOB for recent offers in Eastern Canada, up from the prior low of C$675/mt FOB.
Eastern Cornbelt:
Potassium thiosulfate was unchanged at $650/st FOB Terre Haute, Ind.
Western Cornbelt:
Potassium thiosulfate pricing remained at $650/st FOB Waterloo, Iowa, in early September.
