Brazil:
The landed price for SSP 19-21 pulled back $5/mt at the top of the range, to $195-$225/mt CFR from $195-$230/mt CFR in the prior report.
Sources reported both higher prices and fewer tons available at Rondonópolis during the week, with suppliers reportedly backing away from the discounts offered one week earlier. Prices were noted at $305-$335/mt FOB ex-warehouse, reflecting the uptrend seen in the MAP and TSP markets.
California:
16-20-0 pricing in California firmed to $545/st FOB Lathrop and $552/st FOB Richvale, up $25/st from last report.
Pacific Northwest:
The 16-20-0 market was up $10/st, to $520/st FOB or DEL in the Pacific Northwest.
US Imports:
Phosphate rock imports firmed 31.7% in January, to 381,798 st from 289,987 st in January 2023. Imports moved down 4.7% in July-January, however, to 1.80 million st from the previous year’s 1.89 million st. Peru shipped 1.79 million st in July-January, Canada sent 3,170 st, and Japan followed with 1,177 st.
US Exports:
Wet-process phosphoric acid exports firmed 21.0% in July-January, to 240,112 st from the year-ago 198,498 st. January exports were counted at 9,869 st, however, falling 3.5% from the 10,224 st reported one year earlier. India received 138,258 st in July-January, Mexico took 67,189 st, and Canada purchased 31,468 st.
Eastern Cornbelt:
March phosphoric acid pricing continued at $12.50/unit rail-DEL in the Eastern Cornbelt.
The phos acid market remained at $12.50/unit rail-DEL in the Western Cornbelt for March tons.
California:
Phos acid reference prices remained at $12.60/unit rail-DEL in California for March tons, with MGA posted at $12.80/unit FOB Lathrop. No updated pricing has been announced for April.
Pacific Northwest:
Phos acid was steady at $12.10/unit FOB Pocatello, Idaho, and $12.60/unit rail-DEL in the Pacific Northwest for March tons.
Eastern Cornbelt:
10-34-0 pricing edged up to $550-$560/st FOB for the latest offers in the Eastern Cornbelt.
10-34-0 was steady at $530-$550/st FOB in the Western Cornbelt, depending on location and time of shipment, with the high reported in Iowa.
California:
10-34-0 remained at $578-$583/st FOB in California, with 11-37-0 pricing unchanged at $630-$635/st FOB.
Pacific Northwest:
The 10-34-0 market was steady at $565/st FOB in the Pacific Northwest, with the latest 11-37-0 offers pegged at $620/st FOB and $610/st DEL in Idaho and Utah.
Western Canada:
10-34-0 prices strengthened to C$955-$965/mt DEL in Western Canada for the latest offers, up from the previous C$940-$955/mt DEL level, with the low quoted for March tons and the high for April-May.
US Gulf:
The NOLA potash market slipped slightly to $310-$315/st FOB based on new business this week, down from last week’s $310-$320/st FOB. Reports of sub-$310/st FOB deals could not be confirmed.
US Imports:
Potash imports were up 16.4% in July-January, lifting to 7.69 million st from 6.60 million st in the prior year. January imports moved 2.7% higher, to 1.05 million st from the year-ago 1.02 million st. Imports from Canada were reported at 6.79 million st in July-January, Russia sent 630,767 st, and Israel added 200,258 st.
US Exports:
Potash exports softened 6.1% in January, to 290,581 st from the year-go 309,338 st. July-January exports were 1.89 million st, down 2.3% from the year-ago 1.94 million st. Exports to China totaled 381,847 st for the July-January fertilizer year-to-date, followed by 304,675 st to Brazil and 283,989 st to Malaysia.
Potash was pegged at $365-$385/st FOB in the Eastern Cornbelt, depending on location, with the low reported at Cincinnati and out of spot Illinois River terminals.
Western Cornbelt:
Potash remained at $360-$385/st FOB in the Western Cornbelt, with the low confirmed at St. Louis and the high in Iowa. Rail-DEL offers were also pegged at the $385/st level in Iowa during the week.
California:
Potash continued to be quoted at $525-$550/st FOB or DEL in California for the last offers.
Pacific Northwest:
Potash pricing in the Pacific Northwest was unchanged at $495-$503/st FOB or DEL for post-fill offers, with the high reflecting reference pricing for 62% MOP and the low for 60%.
The latest potash postings from Intrepid FOB Moab and Wendover, Utah, included $455/st FOB for 60% white standard and $460/st for 60% white granular.
Western Canada:
Truck pricing for potash at the mine in Western Canada reportedly slipped back to C$540-$545/mt FOB for 1Q or 2Q shipments, depending on grade, below the last confirmed 2Q offers of C$580-$585/mt FOB.
Northwest Europe:
Granular potash prices in Northwest Europe were unchanged at €355-€375/mt CIF, with only a few truckloads changing hands in that range. Some sources said an expected price cut could trigger liquidity, but with farmers still holding back for more favorable weather, this may prove unsuccessful.
Southeast Asia:
Granular potash prices in Southeast Asia showed little change this week, despite Thailand and Vietnam showing pockets of demand for palm oil plantations. A similar tune was heard ex-Indonesia for standard potash, with new inquiries failing to trigger price movements.
No outcome of the Indonesian import tender was heard by press time, with the latest supplier offers still at $302/mt CFR, despite the buyer reportedly countering below the $300/mt CFR mark.
China:
January-February potash imports totaled 2.7 million mt, according to Trade Data Monitor, a 65% increase from the year-ago period. Russia led suppliers with 891,000 mt, followed by Canada and Belarus with 771,000 mt and 448,000 mt, respectively. February imports were 878,000 mt, up 27% from 693,000 mt in February 2023.
Brazil:
Imported potash prices were steady at the $300-$310/mt CFR level. Several sellers have reportedly raised offers to $330/mt CFR, though some inland deals have continued to land at a $290/mt CFR equivalent.
Anticipated potash demand kept prices firm at Rondonópolis during the week, with some suppliers seeking improved margins while others removed potash from their price lists entirely. Week-ago offers referenced at $400/mt FOB are no longer available, players said, taking the price range to $410-$420/mt FOB. Sources estimated that 75-80% of Mato Grosso state’s potash needs have been covered as of the current week.
Tampa:
Second-quarter Tampa molten sulfur contracts were settled at $81/lt CFR, a 17.4% increase from the first quarter’s $69/lt CFR contract. The new price will take effect on April 1.
US Imports:
Sulfur imports softened 10.6% in July-January, to 1.44 million st from 1.61 million st in the same period of 2022-2023. Imports were up 2.1% in January, however, to 192,423 st from the year-ago 188,424 st.
Cargoes from Canada were reported at 772,740 st in July-January, followed by Saudi Arabia with 149,133 st. Mexico sent 106,315 st, ahead of 97,595 st from Iraq.
US Exports:
July-January sulfur exports were counted at 1.35 million st, up 5.8% from the year-ago 1.27 million st. January shipments fell 0.7%, however, to 191,475 st from 192,828 st in the prior January.
Brazil took 658,391 st in July-January, ahead of 351,896 st to Mexico and 135,181 st to Morocco. Tons shipped to New Caledonia were steady at 120,229 st.
US Gulf:
US Gulf sulfur was stable at $80-$81.50/mt FOB, players said.
Brazil:
Brazil imports strengthened to $111-$114/mt CFR, up from $105-$110/mt CFR at last report.
Vancouver:
Vancouver solid sulfur pricing held steady at the week-ago $77-$80/mt FOB level.
Alberta:
Alberta sulfur netbacks continued at (-)$34- $11/mt FOB, with both molten cargoes contracted into the US market and solid tons sold through the Vancouver export market represented in the range.
West Coast:
West Coast prills remained even with Vancouver at $77-$80/mt FOB. Negotiations for second-quarter molten sulfur contracts were ongoing, leaving current contracts in the $50-$55/lt FOB range.
China:
China import sulfur prices were steady in the $100-$105/mt CFR range. With port sulfur inventories reportedly approaching the 3 million mt mark in recent weeks, some market players expect prices to come off in the short-term.
ADNOC:
Abu Dhabi National Oil Co. (ADNOC) sulfur was posted at $78/mt FOB Ruwais for March loading, sources said, a 13% increase from the $69/mt FOB reported in February.
Qatar:
Muntajat offers for March were noted at $78/mt FOB Ras Laffan, rising from February’s $69/mt FOB posting.
Correction:
In the March 15 Green Markets issue, the footnote to the Sulfur price chart incorrectly listed the contract prices for Tampa, Houston, and NOLA as 1Q instead of 2Q.
US Gulf:
US Gulf sulfuric acid imports remained at $95-$105/mt CFR for the week.
US Imports:
July-January sulfuric acid imports firmed 8.2% year-over-year, to 2.20 million st from 2.04 million st. January imports were down 1.1%, however, slipping to 298,106 st from 301,400 st. July-January imports from Canada totaled 1.14 million st, Mexico sent 414,074 st, and Spain shipped 213,072 st.
US Exports:
Sulfuric acid exports softened 64.1% in January, to 12,668 st from 35,299 st in January 2023. July-January exports dropped 63.3%, to 114,514 st from the year-ago 312,327 st. July-January exports to Canada were noted at 75,769 st, ahead of 24,431 st to Mexico. Uruguay took 4,409 st.
Brazil:
Brazil import prices were steady at the week-ago $120-$125/mt CFR level, sources said.
Eastern Cornbelt:
The ammonium thiosulfate market remained at $275-$300/st FOB in the Eastern Cornbelt, with the low confirmed at Cincinnati and out of spot Illinois River locations. Michigan terminals were reported at the $315/st FOB level in late March.
Western Cornbelt:
Ammonium thiosulfate strengthened to $280-$300/st FOB in the Western Cornbelt, with the low reported at Waterloo, Iowa, and the high in Nebraska.
California:
Ammonium thiosulfate pricing was quoted at $325-$340/st FOB in California.
Pacific Northwest:
Terminal pricing for ammonium thiosulfate was unchanged at $305-$315/st FOB in the Pacific Northwest, with rail-DEL offers reported in the $290-$300/st range on a spot basis.
Western Canada:
Ammonium thiosulfate pricing continued at the C$435/mt DEL level in Saskatchewan.
California:
CAN-17 in California remained at a flat $330/st FOB Stockton in late March.
Pacific Northwest:
CAN-17 slipped to $332/st FOB Kennewick, down $13/st from last report.
Germany:
Better weather led to improved buyer appetite, pushing CAN prices up €5/mt at the low end of the range this week in Germany. Supply remains sufficient from both Western and Eastern European producers on both prompt and forward volumes.
