Western Cornbelt:
Ammonium nitrate remained at $400-$420/st FOB for the last confirmed offers in Missouri.
France:
Yara has once again hiked its list price for September deliveries of ammonium nitrate 33.5% (YaraBelaExtran 33.5) in France, setting the new level at €460/mt bulk CPT on Aug. 1, with immediate effect. The new price reflects a €58/mt increase on the previous posting of €402/mt, which was published on July 21 (GM July 21, p. 8).
US Gulf:
The last confirmed ammonium sulfate barge business remained at the $220/st FOB NOLA level, with offers reportedly continuing at $230-$240/st FOB for new business.
Eastern Cornbelt:
Granular ammonium sulfate prices slipped to $270-$290/st FOB in the Eastern Cornbelt on reports of limited demand, despite higher postings from producers.
AdvanSix raised its granular ammonium sulfate price in the Midwest to $300/st FOB river warehouses on Aug. 2, up from the July 24 posting of $290/st FOB and earlier summer fill offers at $270-$285/st FOB.
Western Cornbelt:
The granular ammonium sulfate market remained at $285-$300/st FOB in the Western Cornbelt, with the low reflecting IOC’s latest posting at Louis. AdvanSix raised its granular ammonium sulfate price on Aug. 2 to $300/st FOB Midwest river warehouses, up $10/st from the company’s July 24 posting.
Northern Plains:
The granular ammonium sulfate market was pegged at $280-$300/st FOB in the Northern Plains, with the low at St. Paul and the high at Casselton, N.D., and Sioux City, Iowa. Delivered pricing in the region was reported in the $280-$305/st range in early August.
Northeast:
The granular ammonium sulfate fill market in the Northeast firmed to $300-$305/st FOB, with the high confirmed at East Liverpool, Ohio. AdvanSix reported that its ammonium sulfate prices FOB Hopewell, Va., will move on Aug. 14 to $295/st for granular, $265/st for mid-grade, and $245/st for standard.
Eastern Canada:
Ammonium sulfate tightened to C$500-$518/mt FOB in Eastern Canada, down from last month’s C$500-$660/mt FOB range.
China:
The asking price has jumped to $180/mt FOB for caprolactam grade ammonium sulfate, sources said, although no one has yet paid that price. Deals were reported in the low-$170s/mt FOB, however.
Sources said the dual pressures of stronger demand and reduced output is pushing up the price. The slowdown in Chinese industrial output has meant reduced production of the amsul byproduct, sources said. At the same time, NPK manufacturers in China and around the world are asking for more ammonium sulfate to serve as their nitrogen component.
Turkey:
January-June ammonium sulfate imports softened 16%, Trade Data Monitor reported, to 582,000 mt from the year-ago 693,000 mt. Chinese amsul totaled 423,000 mt, for 73% of the market. Belgium followed with 102,000 mt.
June imports were mostly flat year-over-year at 41,000 mt. Turkey received 278,000 mt in the second quarter, up 51% from 184,000 imported in April-June 2022.
Brazil:
Ammonium sulfate prices in Brazil climbed to $230-$235/mt CFR from the week-ago $200-$220/mt CFR, a roughly 11% increase.
Despite both limited offers and muted demand reported at Rondonopolis, ammonium sulfate prices followed urea higher, to $340-$360/mt FOB ex-warehouse.
DAP/MAP
Central Florida:
Central Florida DAP trucks were posted at $500/st FOB, unchanged from the prior report. MAP trucks were offered at $550/st FOB, also steady from last week. North Florida MAP postings continued at $600/st FOB, sources said.
US Gulf:
NOLA DAP barges climbed to $500-$515/st FOB, above the last-reported $470-$500/st FOB range. MAP barges also moved higher, to $580-$600/st FOB from the week-ago $535-$585/st FOB.
US Exports:
Export DAP and MAP prices lifted to $480/mt FOB on reports of limited third-quarter availability and small-volume sales. The market was previously noted at $470/mt FOB.
Eastern Cornbelt:
DAP and MAP prices remained strong in the Eastern Cornbelt, fueled by firming NOLA barge values and reports of tight supply for the fall application season. DAP was pegged at $535-$560/st FOB, with the low reported in Illinois and the high at Cincinnati, reflecting a $10/st increase from last week’s Cincinnati price.
MAP pricing jumped to $635-$645/st FOB in the region, up from last week’s $595-$625/st, with the low reported at Cincinnati and the high in Illinois. MAP offers out of Michigan warehouses were quoted firmly in the $645-$655/st FOB range during the week.
Western Cornbelt:
DAP remained at $540-$560/st FOB in the Western Cornbelt, with the lower end of the range reported at St. Louis. MAP pricing strengthened to $630-$650/st FOB in the region, up from last week’s $590-$630/st, with the low again confirmed at St. Louis.
Northern Plains:
DAP prices firmed to $565-$575/st FOB St. Paul, with the latest MAP offers jumping to the $650-$660/st FOB level at that location.
Northeast:
Phosphate prices continued to climb in the Northeast. The latest offers were quoted at $575/st FOB for DAP and $655/st FOB for MAP at East Liverpool, up $10/st from the previous week.
Eastern Canada:
MAP was quoted at C$880-$1,010/mt FOB in Eastern Canada, down from the previous C$1,010-$1,260/mt FOB range.
China:
A DAP sale to Thailand at $500/mt CFR showed a netback to China of $480-$490/mt FOB. Sources said this level was used as the basis to boost prices to India. Producers are now reportedly quoting an Indian landed price of $530/mt CFR, for a netback of $500-$510/mt FOB China.
Producers argue the higher price is justified by limited supply and steady demand. Only about 100,000 mt is available for export from China during the third quarter, YUC reported. Most of that amount is already spoken for, sources said, leaving small amounts for spot deals. There are expectations, said one trader, that the price could soon hit $550/mt FOB.
Some buyers already have deals with producers for small lots. These buyers picked up their material in the $360s/mt FOB some time back. Now that the loads are ready for shipment and prices are spiking, some are concerned the producers will call their product back in the hopes of reselling it at the current higher prices. No cargoes have been called back so far, sources said, but traders noted the concerns are well-founded based on past actions.
India:
The week started with DAP offers into India at $480/mt CFR and closed with traders talking about $530/mt CFR. While no deals were concluded at the higher level, sources said the Chinese price of $480-$490/mt FOB puts the landed price at $495-$510/mt CFR India.
At this point, buyers are pushing back and sellers are digging in their heels, sources said. In the end, said one trader, India needs the DAP, so it will most likely have to concede to the higher prices.
Brazil:
MAP prices lifted to $490-$500/mt CFR in Brazil. Russian tons were reported setting the bottom of the range, while other origins dominated the top. Sources quoted NPs available from China priced equivalent to $470/mt CFR MAP, putting a cap on prices.
Citing little MAP availability at Rondonopolis, sources reported prices firming to $640-$650/mt FOB ex-warehouse. The narrow range included pricing for both prompt and forward deliveries.
US Gulf:
NOLA TSP barges traded at $420-$440/st FOB, sources said, narrowing from the week-ago $400-$443/st FOB.
Eastern Cornbelt:
TSP was pegged at $475-$485/st FOB for the latest offers in the Eastern Cornbelt.
Western Cornbelt:
TSP pricing was steady at $450-$460/st FOB St. Louis.
Brazil:
Import prices for TSP firmed slightly, to $390-$395/mt CFR from $385-$395/mt CFR in the prior report.
The Rondonopolis TSP market jumped to $510-$545/mt FOB ex-warehouse in the face of rising offers from domestic producers. Low availability continues to pressure inland prices higher, and new deliveries are not currently expected until the fourth quarter.
Brazil:
The landed price for SSP 19-21 increased to a wide $215-$245/mt CFR range, depending on quality. The market was previously noted at $210-$235/mt CFR.
Few offers and low availability were reported at Rondonopolis. Despite the thin market, the theoretical price for SSP was put at $345-$395/mt FOB ex-warehouse, slightly above the last reported $335-$395/mt FOB range, based on both nutrient value and availability of the product in other regions of Brazil.
Eastern Cornbelt:
August phos acid postings in the Eastern Cornbelt strengthened to $9.90/unit rail-DEL, up $0.25/unit from July.
The phos acid price moved up to $9.90/unit rail-DEL in the Western Cornbelt on Aug. 1, up from $9.65/unit rail-DEL in July.
Northern Plains:
Phos acid pricing was pegged at the $9.90/unit rail-DEL level for August shipments in the Northern Plains.
Eastern Cornbelt:
10-34-0 fill offers were reportedly still on the table at the $450/st FOB level in the Ohio and Michigan markets, sources said.
Western Cornbelt:
10-34-0 dropped to $445-$465/st FOB in the Western Cornbelt for recent fill offers.
Northern Plains:
The 10-34-0 market was reported at $465-$490/st FOB in the Northern Plains, with the low for 3Q and the high for 4Q tons.
Northeast:
The 10-34-0 market slipped to $505/st FOB for fill offers in New York, down $195/st from the last prompt spring business.
US Gulf:
The NOLA potash market was quoted at $310-$317/st FOB for confirmed trades, down from last week’s high of $325/st FOB, with the low reported early in the trading week. Most new business was quoted at the $315-$317/st FOB level as the week progressed.
Potash was quoted at $365-$400/st FOB in the Eastern Cornbelt, up from last week’s $360-$370/st range, depending on location and time of shipment. Michigan warehouses were pegged at $395-$400/st FOB in early August.
Nutrien on July 31 closed its summer fill program for 3Q potash deliveries at $370/st FOB Midwest terminals, and is now taking orders for 4Q potash shipments at a $400/st FOB Midwest reference price. Nutrien reported an “overwhelming response” to the fill program, which was launched on July 21, and said reference prices for 4Q are subject to change at any time.
Western Cornbelt:
The potash market firmed to $365-$400/st FOB in the Western Cornbelt, with the high reflecting new postings from Nutrien for 4Q shipments.
Northern Plains:
Potash pricing firmed to $370-$400/st FOB St. Paul, with delivered tons pegged at the $390-$400/st FOB level for 4Q shipment. The latest prices FOB Saskatchewan mines were quoted at $350-$357/st FOB, depending on grade.
Northeast:
Potash was pegged at the $370-$400/st FOB in the Northeast, with rail-DEL pricing reported in the $390-$400/st range.
Eastern Canada:
Potash pricing in Eastern Canada was quoted at C$545-$585/mt FOB regional warehouses, down from C$740/mt at the end of the spring season, with the low reflecting late July fill offers and the high reported for new post-fill offers for 4Q shipment.
India:
Reports continue to circulate that a revised contract price for potash has been agreed between Uralkali and IPL, the country’s biggest potash importer, to reflect the markedly lower price negotiated in June between international suppliers and China for contract volumes in 2023.
Rumors suggest the updated price could be around $319/mt CFR, and that this is the level IPL is seeking to secure with Canpotex. This could not be confirmed by press time, however, and Canpotex has made no official comment.
Canpotex and its Indian customers negotiated a price of $422/mt CFR in early April for potash supplied through Sept. 30, 2023 (GM April 7, p. 14). This was followed by a June contract between Canpotex and its Chinese customers at $307/mt CFR (GM June 9, p. 15).
Southeast Asia:
Potash prices are edging up, sources said, with limited material from Uzbekistan offered at $330-$340/mt CFR to Southeast Asian buyers.
Product from Belarus was reportedly offered in the low-$300s/mt CFR. Sources attributed the low price to the sanctioned status of the Belarusian material. Buyers are anxious about procuring the cheaper product without getting caught up in sanctions-related paperwork or penalties, however.
Potash is being exported from China, according to reports. Chinese domestic demand for potash is not as great as previously anticipated, sources said, resulting in larger imports than were needed. As a result, sources said small quantities are being offered to Asian buyers at undisclosed prices.
Brazil:
Potash strengthened to $345-$360/mt CFR in Brazil. Despite a surge in demand, large inventories continue to be reported in Brazil, constraining further price growth. Some suppliers are reportedly sold out for the coming months.
Sources noted a wide range in the Rondonopolis market. A low of $470/mt FOB ex-warehouse, flat from last week, was associated with the limited remaining demand for the 2023-2024 soybean crop. The top of the market, reported at $525-$530/mt ex-warehouse, was set through negotiations for forward deliveries.
US Gulf:
Passage through the Ellender Bridge, located at Mile 243.8 of the West Canal, was unavailable on Aug. 2 due to an equipment malfunction. No timetable for repairs was available on Aug. 3. Harvey Lock remained shut for the week due to reverse head conditions, sources said.
Repairs to the Morgan City-area BNSF railroad bridge were delayed until early September. The effort was previously scheduled to begin on July 17. Algiers Lock is slated to shut for 45-60 days for repairs in the fourth quarter. Firm dates for the outage were expected to be announced closer to the start of the operation.
Bayou Sorrel Lock was reported closed from 7:00 a.m. to 4:00 p.m. daily for guidewall repairs, triggering navigation delays up to 28 hours. The project is expected to run through March 2024. In addition, the lock will close for at least 18 hours on or near Aug. 14, sources said.
Chamber wall repairs at Leland Bowman Lock were reported to wrap up on July 31, concluding a period of daytime closures.
Brazos Lock repairs were pushed back to Aug. 10 from the previous July 31 planned start. Once begun, the project is expected to block daytime travel through the site. Waits at Brazos Lock were reported at 4-7 hours for the week.
Mississippi River:
Towing restrictions continued on the Mississippi River due to low water levels.
On the upper river, loading drafts in the St. Louis area were reduced by 25-30% from normal levels, while shippers faced combined 5% draft reductions and 20% tow-length restrictions between Cairo, Ill., and St. Louis. Significant travel delays were reported through the St. Louis harbor.
Drafts were slashed by 15-20% on northbound travel between New Orleans, La., and Cairo, while drafts were reduced by 10-15% for southbound movements. Barge counts continued to run 15-25% below normal levels, depending on vessel horsepower, stretching delivery windows by up to 24-48 hours.
Excessive rainfall in the forecast was expected the lift the St. Louis river gauge to an 8.1-foot crest on Aug. 5, up from 1.66 feet on Aug. 3. Levels were likely to recede below the 0.0-foot mark on Aug. 9, however. A flood watch was in effect for the St. Louis area on Aug. 3.
On the lower river, the gauge at Memphis, Tenn., was reported a (-)4.13 feet on Aug. 3. Levels were predicted to rise to 0.0 feet on Aug. 10, before reversing course and falling below the area’s (-)5.0-foot low stage on Aug. 15.
Sources reported a main chamber shutdown at Mel Price Lock on Aug. 2-4, triggering waits up to 11 hours and forcing detours through the auxiliary chamber. A series of four-hour navigation shutdowns were announced for the bridge at Ft. Madison, Iowa, on Aug. 2, 6, 7, 8, and 9, while eight-hour closures were scheduled for Aug. 19 and 20.
Old River Lock, located at Mile 305 on the lower river, was offline July 31 through Aug. 3 for repairs and maintenance. The shutdowns were expected to repeat on Aug. 14-17 and Aug. 21-24.
Illinois River:
Sources noted a 5% reduction in loading drafts on the Illinois Waterway due to low river levels. Wickets were raised at Peoria Lock and LaGrange Lock during the week, forcing lockages through both sites.
Shutdowns at Brandon Road Lock, Dresden Island Lock, and Marseilles Lock are scheduled to continue through approximately Oct. 1, closing the river to commercial transport.
Ohio River:
Maximum loading drafts continued at 10.0-10.5 feet on the Ohio River due to low water levels. Monongahela River drafts were capped at 8.5 feet.
Travel through the John T. Meyers Lock primary chamber is unavailable through Aug. 20 for repairs to the floating mooring system. The secondary chamber will shut Aug. 21-Sept. 10 for miter gate repairs, while the main chamber will close once again from Sept. 11 to Nov. 17. The Greenup Lock main chamber is offline through Aug. 14, prompting detours through the site’s auxiliary chamber.
At Smithland Lock, tows were required to use an assist boat on southbound lockages due to strong outflows. The site’s land chamber is scheduled to shut for miter gate repairs from Sept. 22 to Oct. 21, while the river chamber will close Oct. 22 through Nov. 20 to replace machinery.
Intermittent shutdowns for electrical work were reported at the Tennessee River’s Pickwick Landing Lock on July 31-Aug. 4, driving waits up to five hours. Wait times were posted up to 19 hours at Kentucky Lock, while boats transiting Wilson Lock were delayed up to nine hours.
Tampa:
No changes have been reported since third-quarter contracts were settled at $55/lt CFR. The current contract price is down $48/lt from $103/lt CFR in the second quarter, a 47% decline.
US Gulf:
Noting both an increase in international prices and an ongoing outage at the ExxonMobil Corp. refinery in Baton Rouge, La., sources noted balanced-to-firm conditions in the US Gulf market. Prices lifted to $65-$70/mt FOB for the week, up from the last reported $57-$61/mt FOB range.
Brazil:
Market expectations moved up slightly, to $85-90/mt CFR from the week-ago $80-$90/mt CFR. There is no nearby demand in sight following the CMOC purchase, sources said. The expectation is now for large buyers to return to the market for September deliveries, with higher prices anticipated.
Vancouver:
Prices were unchanged at $60-$70/mt FOB. Sources continued to question whether the market will tighten should the port strike be extended.
Alberta:
Alberta price estimates continued at (-)$60-$0/mt FOB. The range included both molten sulfur cargoes contracted into the US market and solid tons sold through the Vancouver export market.
West Coast:
West Coast prills were indicated on par with Vancouver at $60-$70/mt FOB, unchanged from one week earlier.
Sources reported molten sulfur contracts at $45-$50/lt FOB for loading in the third quarter, off from $98-$106/lt FOB in the prior period, a 53% decline.
China:
Prices moved up to $100-$110/mt CFR, market watchers said, above last week’s $95-$100/mt CFR range. Despite high inventories at China, sources noted continued healthy demand.
ADNOC:
Prilled sulfur produced by the Abu Dhabi National Oil Co. (ADNOC) remained posted at $68/mt FOB Ruwais for July loading.
Qatar:
Muntajat announced August solid sulfur postings at $86/mt FOB Ras Laffan, up 37% from $63/mt FOB in July. The region’s other producers are expected to post August prices at a similar level.
