Western Cornbelt:
The ammonium nitrate market remained at $330-$360/st FOB in the Western Cornbelt, depending on location.
All posts by hlancey@bloomberg.net
Ammonium Sulfate
US Gulf:
New NOLA ammonium sulfate barge business was reported at the $255/st FOB level for January-February shipment, down from the prior $270-$275/st FOB range.
Eastern Cornbelt:
Granular ammonium sulfate in the Eastern Cornbelt was steady at $300-$335/st FOB, depending on location, supplier, and time of shipment, with the low confirmed in Illinois. The Cincinnati market ranged broadly at $310-$335/st FOB, while recent offers at Peru were pegged at the $330/st FOB mark.
In the Great Lakes region, Michigan ammonium sulfate prices were pegged solidly at the $340/st FOB and $345-$350/st DEL levels.
Western Cornbelt:
The granular ammonium sulfate market was unchanged at $300-$330/st FOB in the Western Cornbelt, with the low reported at St. Louis and the high in Iowa.
Northern Plains:
The granular ammonium sulfate market was quoted at $320-$340/st FOB, with delivered tons in North Dakota reported at $310-$320/st for fill and $320-$345/st for spring.
Northeast:
Granular ammonium sulfate pricing in the Northeast remained at $340/st FOB East Liverpool, Ohio, and $340-$350/st DEL.
Eastern Canada:
Ammonium sulfate prices in Eastern Canada widened to C$530-$575/mt FOB in early January, down C$15/mt at the low end of the range.
China:
Noting softness in both the domestic and international caprolactam grade amsul markets, sources put the price at $105-$115/mt FOB in China. The amsul market’s only bright spot appeared to be an increased interest in steel grade product for use in China’s rare earth mining operations.
Thailand:
January-November amsul imports in Thailand totaled 288,000 mt, Trade Data Monitor reported, a 20% drop from the 359,000 mt received through the same period in 2022. November imports of 39,000 mt – all from China – were down from 139,000 mt in November 2022.
Brazil:
The landed price of ammonium sulfate in Brazil climbed to $160-$170/mt CFR, lifting from $155-$165/mt CFR. While bids remained around $155/mt CFR, seller expectations have moved closer to $175/mt CFR.
Prices in Rondonópolis fell, however, to $290-$305/mt FOB ex-warehouse from the prior $295-$310/mt FOB range, belatedly reflecting the softer prices reported in the last weeks of December, before the Indian tender call renewed pressure on the nitrogen market.
DAP/MAP
Central Florida:
Central Florida DAP trucks firmed 4.9%, to $590/st FOB from $575/st FOB at last report. Truck-loaded MAP was noted at $630/st FOB, up 3.3% from $610/st FOB. North Florida MAP postings were steady at $640/st FOB.
US Gulf:
Sources noted firming phosphate prices. NOLA DAP barges strengthened to $575-$590/st FOB during the week, a rise from the previous $570-$580/st FOB range, while MAP barges lifted to $620-$630/st FOB from $620-$623/st FOB at last report.
US Exports:
No new export transactions were reported, leaving DAP and MAP prices unchanged at $570/mt FOB out of the US Gulf.
Eastern Cornbelt:
Tight supply pushed DAP and MAP prices higher in the Eastern Cornbelt. DAP firmed to $635-$650/st FOB, up from the previous $615-$635/st FOB range, while MAP strengthened to $680-$690/st FOB. The latest Cincinnati offers were quoted at $645-$650/st FOB for DAP and $685-$690/st FOB for MAP, up from the prior $625-$635/st FOB and $680-$685/st FOB levels.
In the Great Lakes region, Michigan phosphate pricing included DAP at $680-$685/st DEL, with MAP reported at $685/st FOB and $725/st DEL in early January.
DAP firmed to $635-$640/st FOB in the Western Cornbelt, up from a low of $620/st FOB in mid-December. MAP was quoted at $675-$690/st FOB in the region, with the high in Iowa and the low confirmed at St. Louis.
Northern Plains:
DAP and MAP prices were strengthening in the Northern Plains, with the latest St. Paul offers pegged at $655/st FOB for DAP and $710/st FOB for MAP, up from the previous $620/st FOB and $685/st FOB levels, respectively.
Northeast:
DAP firmed to $655/st FOB East Liverpool, up $10/st from mid-December. MAP was reported at $690/st FOB East Liverpool, with delivered offers in Pennsylvania pegged at the $740/st level. No MAP is reportedly available at Fairless Hills until February.
Eastern Canada:
Phosphate prices were inching up in Eastern Canada, where the latest quotes included MAP at C$985-$993/mt FOB and DAP at C$935/mt FOB Montreal, up as much as C$25/mt from early December.
Western US:
MAP pricing was up $15/st in the Western US, to $755-$765/st FOB or DEL in California and $745-$755/st FOB or DEL in the Pacific Northwest.
China:
DAP exports from China were highly limited and are expected to remain so through the first quarter. The absence of Chinese DAP producers from the global market is helping to keep prices firm, sources said.
China’s Ministry of Industry and Information Technology stated that the country was working to increase its phosphorus capacity and global competitiveness by 2026, Bloomberg reported.
India:
Buyers remain hesitant to commit to new DAP orders until the government clarifies its decision to increase DAP subsidies. The government has not yet released full details regarding the level of help that will be given to importers, sources reported.
Brazil:
MAP imports rose to $550-$570/mt CFR, a $5/mt increase from the prior $550-$565/mt CFR range, with offers at $580/mt CFR reportedly failing to transact.
Due to low activity in the post-holiday market, Rondonópolis prices were unchanged at $680-$685/mt FOB ex-warehouse. Weaker demand is expected to linger through the short-term due to limited interest for the corn season, though buyers are expected to return in the second and third quarters to supply the 2024/25 soybean crop.
Argentina:
Trade Data Monitor reported January-November MAP imports at 726,000 mt, a slight year-over-year decrease from 773,000 mt. November imports were 91,000 mt, up from 24,000 mt in the previous November, with Morocco sending 44,000 mt.
TSP
US Gulf:
NOLA TSP barges were quoted at $440-$460/st FOB, widening from $445/st FOB at last report.
Eastern Cornbelt:
TSP was pegged at $515-$535/st FOB in the Eastern Cornbelt, with the low at Cincinnati. The TSP market in Michigan was reported at $565/st DEL for January-February tons.
Western Cornbelt:
TSP remained in a broad range at $495-$535/st FOB in the Western Cornbelt, with the low reported at St. Louis for February availability.
Brazil:
Brazil TSP prices increased 2.9%, to $435-$440/mt CFR from the prior $420-$440/mt CFR. Prices at Rondonópolis continued in the $520-$525/mt FOB ex-warehouse range, unchanged from last report. Offers noted up to $550-$555/mt FOB failed to transact, sources said.
SSP
Brazil:
SSP-19 prices in Brazil were stable at $180-$205/mt CFR, with sources citing an inactive market. Prices firmed to $320-$335/mt FOB ex-warehouse at Rondonopolis, however, above the previous $320/mt FOB level. Offers for SSP-23 offers were indicated at $385/mt FOB ex-warehouse.
Cooperative purchasing initiatives for SSP and potash were reported in northern Mato Grosso state in anticipation of the 2024/25 soybean harvest. The negotiations for a combined 20,000 mt of product remained underway during the week.
16-20-0
Western US:
The 16-20-0 market in the Western US was up $10/st, with California prices firming to $520/st FOB Lathrop and $527/st FOB Richvale. New pricing in the Pacific Northwest firmed to $505/st FOB or DEL for the latest offers.
Phosphoric Acid
Eastern Cornbelt:
January phosphoric acid postings were steady at $11.90/unit rail-DEL in the Eastern Cornbelt, unchanged from December.
The phos acid market remained at $11.90/unit rail-DEL in the Western Cornbelt for January tons.
Northern Plains:
Phos acid was unchanged at $11.90/unit rail-DEL for January shipments in the Northern Plains.
Ammonium Polyphosphate
Eastern Cornbelt:
10-34-0 was pegged at $525-$545/st FOB in the Eastern Cornbelt, with the low for prompt tons and the high for prepay.
10-34-0 was reported at $520-$550/st FOB in the Western Cornbelt for the latest offers, depending on location and time of shipment, with the high confirmed in Iowa.
Northern Plains:
The 10-34-0 market remained at a firm $510-$530/st FOB in the Northern Plains.
Northeast:
The 10-34-0 market was unchanged at $530/st FOB in New York in early January. The last 11-37-0 offers were confirmed at $550/st FOB Baltimore.
Muriate of Potash
US Gulf:
The latest NOLA potash trades remained in the $320-$325/st FOB range for January delivery, unchanged from late December.
Potash was pegged in a broad range at $385-$415/st FOB in the Eastern Cornbelt, with the Cincinnati market reported at the $390-$395/st FOB level in early January. Sources said they expect a winter fill program to be announced at any time.
In the Great Lakes region, the latest potash prices in Michigan were quoted at $420/st FOB and $425-$435/st DEL, depending on time of shipment.
Western Cornbelt:
Potash was reported in the $370-$400/st FOB range in the Western Cornbelt, depending on location, with the St. Louis market quoted at $370-$390/st FOB for the latest offers.
Northern Plains:
Potash was quoted at $390-$410/st FOB St. Paul, with delivered tons reported at the $400/st level in the Northern Plains. The latest prices FOB Saskatchewan mines continued at $377-$384/st FOB, depending on grade.
Northeast:
Potash dropped to $335-$360/st FOB in the Northeast, down sharply from the prior $375-$420/st FOB range, with the low reported at Baltimore and the high at Fairless Hills. Delivered Canadian potash was pegged at the $390-$400/st level in central Pennsylvania.
Eastern Canada:
The potash market in Eastern Canada was unchanged at C$615/mt FOB regional warehouses in early January.
Thailand:
Potash imports in Thailand softened 13% in January-November, according to Trade Data Monitor, falling to 621,000 mt from the year-ago 712,000 mt. Thailand imported 82,000 mt in November, however, a notable increase from the 30,000 mt reported last November.
Brazil:
Following several weeks of decline, the landed price of potash moved up 4.3%, to $295-$310/mt CFR from the previous $285-$295/mt CFR range, with players reporting limited trading.
Prices fell slightly at Rondonópolis, however, to $420-$445/mt FOB from $420-$450/mt FOB, while unconfirmed offers rumored at $395/mt FOB hinted at ongoing bearish pressure in the market. Suppliers were reportedly fielding a wide range of offers in an effort to drive new sales and reduce swollen inventories.
Negotiations for a cooperative purchase of 20,000 mt of potash and SSP were reported in northern Mato Grosso state, sources said.
Nutrien Fined C$200,000 for Workplace Injury
Nutrien Ltd. on Dec. 19 pleaded guilty in Moosomin Provincial Court in Saskatchewan to one violation of The Occupational Health and Safety Regulations, 2020. The court imposed a fine of C$142,857.14 with a surcharge of C$57,142.86, for a total amount of C$200,000. One other charge was withdrawn.
The charges stemmed from an incident that occurred on Sept. 20, 2021, near Rocanville, Sask., when a worker suffered a serious injury after stepping into an unguarded floor opening.
“Safety is a top priority at Nutrien and we take these matters very seriously. Nothing is more important than ensuring our employees go home safe, every day,” a company spokesperson told Green Markets. “This individual’s injury was a devastating moment for our organization, the site, and most importantly to them, their family, and friends. They suffered a serious injury while on the job.”
“We participated fully with the Saskatchewan Occupational Health and Safety division throughout the investigation and implemented a number of changes following this challenging incident,” he added. “We accepted responsibility and pled guilty to failing to provide a securely installed ground covering to ensure this employee’s health and safety.
As part of the resolution, Nutrien also made a donation to the Moosomin & District Health Care Foundation in the amount of C$68,000.