Western Cornbelt:
Ammonium nitrate was unchanged at $400-$420/st FOB for the last confirmed offers in Missouri.
All posts by hlancey@bloomberg.net
Ammonium Sulfate
US Gulf:
The ammonium sulfate barge market was steady at the $220/st FOB NOLA level for the last confirmed business. Offers continued to be discussed at $230-$240/st FOB, but no new sales were reported during the trading week.
Eastern Cornbelt:
Granular ammonium sulfate pricing was steady at $290-$310/st FOB in the Eastern Cornbelt, depending on location.
Western Cornbelt:
The granular ammonium sulfate market was quoted at $270-$300/st FOB in the Western Cornbelt, with the low at St. Louis and the high in Iowa.
California:
Ammonium sulfate in California dropped to $320-$330/st FOB and $350/st DEL for the latest offers, down from previous pricing in the low- to mid-$400s/st.
Pacific Northwest:
The ammonium sulfate market tightened to $280-$300/st FOB or DEL in the Pacific Northwest.
Western Canada:
Ammonium sulfate pricing in Western Canada edged up to C$430-$475/mt DEL for the latest offers, well above the prior C$355-$440/mt DEL level.
China:
While some traders said there might be some business happening in the $180s/mt FOB, producers and others quoted the market in the $160s/mt FOB for caprolactam grade amsul. Some producers reported offering tons at $170/mt FOB without any nibbles.
Traders pointed to the softer urea market as one reason for the decline in amsul prices. Blenders looking for nitrogen content are more willing to accept urea than amsul. The ease of shipping large quantities of urea over amsul is also a selling point, aside from the falling price.
Brazil:
Landed ammonium sulfate prices retreated 5.5% from last week, to $205-$215/mt CFR. Based on the nitrogen content, urea is currently trading at an approximate 15% discount to amsul, sources noted. Pricing at Rondonopolis mirrored the softer international nitrogen markets, falling to $320-$330/mt FOB ex-warehouse, down from $345-$350/mt FOB at last report.
DAP/MAP
Central Florida:
DAP trucks loading from Central Florida were posted at $500/st FOB, unchanged from last week, while MAP trucks were offered at $550/st FOB. North Florida MAP postings continued at $625/st FOB, sources said.
US Gulf:
NOLA DAP barges firmed to $530-$545/st FOB from the week-ago $525-$545/st FOB, while MAP barges jumped $25/st at the low end, to $625-$640/st FOB from last week’s $600-$640/st FOB. Sources reported a slow trading week, with most interest chasing a limited availability of MAP.
US Exports:
Export prices remained strong out of the US Gulf, with sources reporting a rise to $550/mt FOB. The market was previously noted at $520/mt FOB, a 6% week-over-week increase.
Eastern Cornbelt:
DAP prices rose to $570-$590/st FOB in the Eastern Cornbelt, with the lower end of the range reported at Cincinnati. MAP firmed to $675-$700/st FOB in the region, up another $10-$20/st from last week, with the Cincinnati market pegged at $680-$690/st FOB.
Western Cornbelt:
DAP prices in the Western Cornbelt moved up to $575-$590/st FOB during the week, with the low confirmed at St. Louis. MAP strengthened to $675-$700/st FOB in the region, up from last week’s $665-$680/st FOB, with the low at St. Louis and the high confirmed in the Iowa market.
California:
MAP pricing was up significantly in California, firming to $730-$740/st FOB or DEL from the prior $690-$710/st level.
Pacific Northwest:
MAP prices jumped to $720-$730/st FOB or DEL in the Pacific Northwest, up from the previous $670-$680/st FOB or DEL range.
Western Canada:
The latest MAP prices in Western Canada were pegged as high as the C$990/mt FOB or DEL level for September-October tons, up from previous offers in the mid- to upper-C$800s/mt. Sources said several suppliers had pulled pricing, however, while the NOLA barge market continues to climb on reports of tight supply.
China:
A reported $558/mt CFR DAP purchase by Rashtriya Chemicals and Fertilizers Ltd. (RCF) puts the netback to China at $535/mt FOB. Earlier purchases showed netbacks as low as $515/mt FOB.
While traders acknowledged $515-$535/mt FOB as a legitimate range for recent sales, few if any tons are available at the lower end. Stronger prices are expected as demand for DAP picks up, especially in India.
India:
RCF reportedly purchased tons at $558/mt CFR in its latest DAP tender, while other buyers previously made deals at $535/mt CFR. Players continue to expect higher prices based on strong Indian demand.
Bangladesh:
Sources reported the withdrawal of some offers in the latest DAP tender following a shift in the market. While no prices have been released – a normal occurrence with tenders in Bangladesh – the buyer appears to be having difficulty lining up the funding to cover potential awards in the tender, sources said.
Some relief came when Ma’aden announced signing a deal to provide Bangladesh Agricultural Development Corp. with 600,000 tons of DAP. The deal is a renewal of a long-term arrangement between the two state-owned companies.
Brazil:
MAP import prices in Brazil strengthened to $520-$530/mt CFR from $500-$520/mt CFR at last report. Noting limited September supply, sources quoted offers at $540/mt CFR for October.
Facing low supplies of all phosphates throughout Brazil, Rondonopolis MAP prices increased to $640-$660/mt FOB ex-warehouse for forward delivery. Due to a lack of available SSP and TSP in the region, companies with inventories of MAP were said to prioritize using their stocks for blending over direct sales.
TSP
US Gulf:
NOLA TSP barges tracked in the $450-$460/st FOB range, sources said, unmoved from the previous week.
Eastern Cornbelt:
TSP remained at $510-$515/st FOB Cincinnati for the latest offers.
Western Cornbelt:
TSP firmed to $500-$510/st FOB St. Louis, up from the previous $495-$500/st FOB range.
Brazil:
Citing limited availability, TSP imports in Brazil firmed to $420/mt CFR from the week-ago $400-$410/mt CFR. While few offers were reported at Rondonopolis, prices were indicated at $530-$540/mt FOB ex-warehouse, $30/mt above the prior $500/mt FOB low.
SSP
Brazil:
The landed price of SSP 19-21 narrowed to $220-$230/mt CFR in Brazil, with players noting limited availability for the buyers’ desired delivery windows.
Rondonopolis prices were referenced at a wide $315-$440/mt FOB ex-warehouse. Sources reported the lower prices being offered for the 2024/25 harvest, while prompt deliveries tracked at the top of the range.
16-20-0
California:
The 16-20-0 market in California remained at $510/st FOB Lathrop and $517/st FOB Richvale.
Pacific Northwest:
16-20-0 pricing was unchanged at $485/st FOB or DEL for the latest offers in the Pacific Northwest.
Phosphoric Acid
Eastern Cornbelt:
August phosphoric acid postings in the Eastern Cornbelt were quoted at $9.90/unit rail-DEL.
The phos acid price remained at $9.90/unit rail-DEL in the Western Cornbelt for August tons.
California:
August pricing for phos acid included $10.00/unit rail-DEL in California, with MGA referenced at $10.20/unit FOB Lathrop.
Pacific Northwest:
Phos acid pricing for August was reported at $9.50/unit FOB Pocatello, Idaho, and $10.00/unit rail-DEL in the Pacific Northwest.
Ammonium Polyphosphate
Eastern Cornbelt:
10-34-0 remained at the $450/st FOB level for the last confirmed fill offers in Ohio and Michigan.
Western Cornbelt:
10-34-0 was steady at $445-$465/st FOB in the Western Cornbelt for fill program tons.
California:
The 10-34-0 market was quoted $474-$479/st FOB in California, with 11-37-0 referenced at $516-$521/st FOB El Centro.
Pacific Northwest:
10-34-0 was pegged at the $450/st FOB level in the Pacific Northwest, with 11-37-0 pricing quoted a $485/st FOB in mid-August.
Western Canada:
The last confirmed 10-34-0 prices in Western Canada remained at C$700-$710/mt DEL for July-August tons.
Muriate of Potash
US Gulf:
NOLA potash strengthened to $320-$325/st FOB for new business during the trading week, up from last week’s broad $310-$325/st range. New offers were reported at $330-$335/st as the week progressed, but no actual business was confirmed at that level.
Potash was steady at $380-$400/st FOB in the Eastern Cornbelt, with the low reported at Cincinnati.
The potash market edged up to $375-$390/st FOB in the Western Cornbelt, with the high confirmed at Jeffersonville, Mo. The St. Louis potash market was pegged in the $375-$385/st FOB range during the week.
California:
Potash was quoted at $495-$503/st FOB or DEL for the latest offers in California.
Pacific Northwest:
Potash was reported at $460-$488/st FOB or DEL in Pacific Northwest, with the high reflecting post-fill reference pricing for 62% MOP. Intrepid in early August moved its potash prices FOB Moab and Wendover, Utah, to $440/st FOB for 60% white granular and $435/st for 60% white standard.
Western Canada:
Potash truck pricing in Western Canada firmed to C$545-$555/mt FOB Saskatchewan mines, up from July fill offers at the C$515/mt FOB level.
Brazil:
Potash import prices in Brazil lifted to $355-$365/mt CFR from the previous $330-$360/mt CFR level. Rondonopolis sources continued to note pricing at a wide $480-$505/mt FOB ex-warehouse, unchanged from last week.
Sulfur
Tampa:
Tampa molten sulfur contracts were valued at $55/lt CFR for the third quarter, a 46.6% decline from $103/lt CFR in the prior period.
US Gulf:
The US Gulf sulfur market increased to $75-$85/mt from the week-ago $65-$70/mt FOB. Sources noted healthy demand from both industrial and fertilizer consumers.
Brazil:
Market expectations lifted Brazil sulfur price ideas to $100-$120/mt CFR, up from $85-$95/mt CFR at last report. A new 40,000 mt purchase tender called by CMOC is expected to clarify the market, sources noted.
Vancouver:
Vancouver sulfur prices increased to $90-$95/mt FOB on rising demand from China and buyers East of Suez. The market was previously noted at $80-$90/mt FOB.
Alberta:
Alberta netback estimates lifted to (-)$60-$25/mt FOB due to rising prices at Vancouver. Molten sulfur cargoes contracted into the US market set the low side of the range.
West Coast:
West Coast prills mirrored Vancouver, firming to the $90-$95/mt FOB range. Molten sulfur contracts were reported at $45-$50/lt FOB for loading in the third quarter, down from $98-$106/lt FOB in the prior period, a 53.4% decline.
China:
Prices continued to move up in China. Players reported the market lifting $10/mt week-over-week, to $120-$130/mt CFR. While high phosphate prices at China and other Asian markets have encouraged sulfur demand, some market players questioned whether the increases could be sustained given the high sulfur inventories noted at Chinese ports.
ADNOC:
Prilled sulfur produced by the Abu Dhabi National Oil Co. (ADNOC) was posted at $80/mt FOB Ruwais for August.
Qatar:
The August sulfur price from Muntajat was posted at $82/mt FOB Ras Laffan, sources said.