All posts by dhouder1@bloomberg.net

UAN

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

US Gulf:

The NOLA UAN market remained at $190-$195/st ($5.94-$6.09/unit) FOB for the last business, though sources doubted that any new trades could be done at this level after the prior week’s fill offers were pulled. No new prices were announced during the week.

Eastern Cornbelt:

Sources reported no new UAN prices in the region following the withdrawal of CF’s fill program on July 14. The last fill offers for UAN-32 were reported at $225/st ($7.03/unit) FOB Mount Vernon, Ind., and $230/st ($7.19/unit) FOB Cincinnati and Peru, Ill., with rail-DEL pricing in the $245-$255/st ($7.66-$7.97/unit) range in the Eastern Cornbelt.

The prior week’s UAN-28 fill prices were pegged at $201.25-$205/st ($7.19-$7.32/unit) FOB Cincinnati.

Western Cornbelt:

The last UAN-32 prices in the Western Cornbelt were reported at the previous week’s fill levels, which included $220/st ($6.88/unit) FOB Port Neal, Iowa, $225/st ($7.03/unit) FOB St. Louis, and $240-$245/st ($7.50-$7.66/unit) rail-DEL in the region. Some contacts expected prices to be updated late in the week, but no new levels were confirmed.

Southern Plains:

Sources said UAN-32 prices in the Southern Plains were pulled after last week’s fill program offers, which included $205/st ($6.41/unit) FOB Verdigris, Okla., and $205-$210/st ($6.41-$6.56/unit) FOB Pryor, Okla. Woodward, Oka., fill pricing was reported at $210/st ($6.56/unit) FOB for September-October.

South Central:

The prior week’s UAN-32 fill program offers from CF included $200/st ($6.25/unit) FOB Yazoo City, Miss., and $225/st ($7.03/unit) FOB lower Ohio River terminals, though the program was reportedly pulled at midday on July 14. No new prices were reported in the South Central region during the week.

Southeast:

The UAN-32 market fell to $240-$285/st ($7.50-$8.91/unit) FOB in the Southeast region, down from the earlier $285-$305/st ($8.91-$9.53/unit) range, with the low confirmed at Wilmington, N.C., and Norfolk, Va. The high was reported at Savannah, Ga., and other Georgia terminals.

Ammonium Nitrate

Ammonium Nitrate, France, Market Watch, South Central, Southern Plains, Western Cornbelt

Western Cornbelt:

The ammonium nitrate market was unchanged at $400-$420/st FOB in Missouri.

Southern Plains:

Ammonium nitrate pricing slipped to $380/st FOB Muskogee, Okla., for new offers, down $20/st from last report.

South Central:

The ammonium nitrate market was steady at $290/st FOB Yazoo City, Miss., and $340/st FOB spot river terminals in the South Central region.

France:

Yara on July 21 announced a new posting for September deliveries of ammonium nitrate 33.5% (YaraBelaExtran 33.5) in France, setting the price at €402/mt bulk CPT with immediate effect. The new price is a €22/mt hike on Yara’s initial list price of €380/mt for September deliveries, announced just over a week ago (GM July 14, p. 8).

Yara once again warned that only a limited volume would be available at this latest price.

Ammonium Sulfate

Ammonium Sulfate, Brazil, China, Eastern Cornbelt, Market Watch, South Central, South Korea, Southeast, Southern Plains, U.S. Gulf, Western Cornbelt

US Gulf:

The NOLA ammonium sulfate barge market dropped to $200-$220/st FOB for the latest trades, down from last week’s $230-$250/st range.

Eastern Cornbelt:

Granular ammonium sulfate remained at $270-$285/st FOB and $280-$290/st rail-DEL for the last fill offers in the Eastern Cornbelt. AdvanSix confirmed that it is raising its granular ammonium sulfate price to $290/st FOB Midwest river terminals, effective July 24, with inland warehouses priced at a traditional premium to the river.

Western Cornbelt:

The last ammonium sulfate pricing was reported at $270-$310/st FOB in the Western Cornbelt, depending on location, with the low reflecting the prior week’s fill offers from AdvanSix. The company confirmed that its granular postings in the Midwest would firm to $290/st FOB river terminals on July 24, with inland warehouses at a traditional premium to river terminals.

Southern Plains:

Granular ammonium sulfate was reported at $330-$370/st FOB for the latest offers in the Southern Plains, with the low at Houston and the high confirmed at Catoosa/Inola.

South Central:

Granular ammonium sulfate slipped to $270-$310/st FOB terminals in the South Central region following the previous week’s fill program offers, depending on location.

Southeast:

Granular ammonium sulfate remained at $350-$405/st FOB in the Southeast, depending on supplier, with standard grade pegged at the $280/st FOB or DEL level for the last confirmed offers in the Florida market.

China:

Strong demand from Brazilian buyers and domestic compactors looking to feed the Brazilian orders continued to push prices higher. Sources pegged caprolactam-grade amsul at $120-$130/mt FOB. Other grades used by compactors have seen similar price increases.

As long as urea prices remain strong and demand from Brazil holds firm, Chinese sources expect steady price growth to continue.

South Korea:

Trade Data Monitor reported first-half 2023 ammonium sulfate exports at 84,000 mt, down from the year-ago 126,000 mt, while second-quarter exports of 38,000 mt were off 16% from the 45,000 mt recorded in April-June 2022.

The US took 25,000 mt of South Korean amsul in 2Q, followed by New Zealand with 12,000 mt. June exports were pegged at 12,000 mt, off from 28,000 mt in June 2022, with New Zealand taking the full 12,000 mt.

Brazil:

Ammonium sulfate prices in Brazil moved up $10-$15/mt, climbing to $190-$195/mt CFR on strong demand. In Rondonopolis, prices firmed to $305-$335/mt FOB ex-warehouse in the wake of urea price increases.

Muriate of Potash

Brazil, Eastern Cornbelt, Market Watch, Potash, Potash Muriate, South Central, South Korea, Southeast, Southern Plains, U.S. Gulf, Western Cornbelt

US Gulf:

Potash barge prices dropped to $330-$350/st FOB NOLA, down from the prior week’s $345-$360/st range, with the low confirmed on July 21 following the launch of potash fill programs.

Eastern Cornbelt:

Potash prices continued to fall during the week. The regional market was pegged at $370-$410/st FOB, down from last week’s $390-$425/st FOB, with the low confirmed at Cincinnati.

Nutrien on July 21 released its long-awaited potash fill program at a reference price of $370/st FOB Midwest terminals. The company said it would take orders at that price until July 28 for 3Q delivery, with an increase of $30/st FOB for delivery in 4Q.

“Nutrien reports a constructive initial response to the program, with customers optimistic about a strong fall application season supported by continued strength in agricultural fundamentals,” the company said.

Western Cornbelt:

Potash dropped to $370-$400/st FOB in the region, down from last week’s $395-$425/st range, with the low confirmed at St. Louis. Nutrien on July 21 launched its potash fill program at $370/st FOB Midwest terminals for 3Q delivery, with a $30/st increase for 4Q delivery.

Southern Plains:

Potash was quoted in a broad range at $385-$430/st FOB in the Southern Plains, with both the high and low confirmed at Catoosa/Inola during the week. The Houston potash market was pegged at the $425/st FOB level.

The last potash postings from Intrepid FOB Carlsbad, N.M, included $515/st for 60% white granular and $525/st for 62% white standard.

South Central:

South Central potash pricing dropped to a broad $340-$380/st FOB in mid-July, depending on location, down sharply from recent highs in the $430-$450/st FOB range. “Potash pricing has dropped now that the season is over and buyers are anticipating fill announcements,” one regional source said at midweek.

Southeast:

Potash pricing was quoted at $425-$430/st FOB terminals in the Southeast, with the last rail-DEL offers remaining in the $465-$475/st range.

Brazil:

The potash price in Brazil softened to $330-$350/mt CFR. High inventories remain the primary motivator for lower prices, sources said. Traders said the port strikes in Vancouver could reverse the price dip, however, as potash will not be shipped from Vancouver anytime soon.

The price in Rondonopolis showed a wider spread, stretching to $460-$490/mt FOB ex-warehouse. Some players suspended their price lists on expectations of higher prices ahead.

South Korea:

Trade Data Monitor reported January-June potash imports in South Korea at 326,000 mt, down 12% from the 370,000 mt received in first-half 2022. Second-quarter imports fell to 165,000 mt from the 202,000 mt recorded in April-June 2022, while June totaled 37,000 mt, down from the year-ago 73,000 mt. Canada sent 35,000 mt for the month.

Sulfur

ADNOC - Abu Dhabi, Alberta, Brazil, China, Market Watch, Qatar, Sulfur, Tampa, U.S. Gulf, Vancouver, West Coast

Tampa:

No changes were reported in the domestic market following Tampa’s recent $55/lt CFR third-quarter settlement. The new contract fell $48/lt from $103/lt CFR in the previous quarter, a 46.6% decline.

US Gulf:

US Gulf prices were unchanged at $57-$61/mt FOB.

Brazil:

Market players noted prices steady from the prior week’s $80-$90/mt CFR. The next demand surge is expected to target tons arriving in the second half of August.

Vancouver:   

Prices remained at last week’s $60-$70/mt FOB. Questions surrounding the port strike at Vancouver continued to swirl, leading some to speculate that the market could tighten should the work stoppage be extended.

Alberta:

Based on both molten sulfur cargoes contracted into the US market and solid tons sold through the Vancouver export market, Alberta netbacks were estimated in the (-)$60-$0/mt FOB range, unchanged from last report.

West Coast:

West Coast prills were indicated on par with Vancouver at $60-$70/mt FOB, steady from the previous report. Third-quarter molten sulfur contracts were reported at $45-$50/lt FOB, falling from $98-$106/lt FOB in the second quarter.

China:

Prices remained at $90-$95/mt CFR. Sources noted the potential for supply concerns at China should the port strike in Vancouver continue.

ADNOC:

Abu Dhabi National Oil Co. (ADNOC) prilled sulfur contracts were noted at $65/mt for the third quarter. The most recent posted price continued at $86/mt FOB Ruwais.

Qatar:

Muntajat solid sulfur offers were posted at $63/mt FOB Ras Laffan for July, a 26.7% drop from $86/mt FOB in June.

Ammonium Thiosulfate

Amthio, Eastern Cornbelt, Market Watch, South Central, Southern Plains, Specialty, Western Cornbelt

Eastern Cornbelt:

The last confirmed ammonium thiosulfate prices remained at $385-$390/st FOB in the Eastern Cornbelt.

Western Cornbelt:

The ammonium thiosulfate market was unchanged at $300-$370/st FOB in the Western Cornbelt, with the low confirmed at Waterloo, Iowa.

Southern Plains:

The latest ammonium thiosulfate prices ranged from $220-$250/st FOB in the Southern Plains, depending on location.

South Central:

Ammonium thiosulfate pricing remained at $335-$340/st FOB Memphis in mid-July, unchanged from last report.

CAN-27

Benelux, CAN-17, Germany, Market Watch, Specialty

Germany/Benelux:

Yara posted a new list price on July 21 of €317/mt bulk CIF for September deliveries of CAN-27 (YaraBela NITROMAG) in Germany and Benelux, with immediate effect. The new price marks a €20/mt hike on Yara’s initial posting of €297/mt for September deliveries, announced on July 13 (GM July 14, p. 18).

Once again, Yara warned that only a limited volume will be available at the new price.