All posts by hlancey@bloomberg.net

Phosphoric Acid

California, Eastern Cornbelt, Market Watch, Pacific N.W., Phosphoric Acid, Western Cornbelt

Eastern Cornbelt:

July phosphoric acid pricing remained at $11.00/unit rail-DEL in the Eastern Cornbelt, but sources said an increase is possible for August.

Western Cornbelt:

The phos acid market continued at July’s $11.00/unit rail-DEL reference price in the Western Cornbelt.

California:

July phos acid reference prices in California remained at $11.25/unit rail-DEL in California, with MGA posted at $11.45/unit FOB Helm. Sources said an increase is expected in August, however.

Pacific Northwest:

Phos acid reference prices in the Pacific Northwest remained at $11.25/unit rail-DEL and $10.75/unit FOB Pocatello, Idaho, for July tons, but sources said an increase is likely for August.

Ammonium Polyphosphate

Ammonium Polyphosphate, California, Market Watch, Pacific N.W., Western Canada, Western Cornbelt

Western Cornbelt:

10-34-0 was unchanged at $550-$575/st FOB in the Western Cornbelt, depending on location.

California:

10-34-0 continued at $532-$537/st FOB in California for July, with the 11-37-0 market steady at $580-$585/st FOB. With phos acid prices likely increasing in August, sources said they expect ammonium polyphosphate prices to strengthen as well.

Pacific Northwest:

10-34-0 remained at $510/st FOB in the Pacific Northwest, with 11-37-0 quoted at $560/st FOB and $550/st DEL in Idaho.

Western Canada:

10-34-0 prices were unchanged at C$990/mt DEL in Western Canada.

Muriate of Potash

Brazil, California, China, Eastern Cornbelt, Israel, Market Watch, Northwestern Europe, Pacific N.W., Potash Muriate, Southeast Asia, U.S. Gulf, Western Canada, Western Cornbelt

US Gulf:

The NOLA potash barge market was quoted at $260-$275/st FOB based on new reported business, down from last week’s $265-$275/st FOB range.

Eastern Cornbelt:

Potash was unchanged at $320-$335/st FOB in the Eastern Cornbelt, with the low reported in Illinois for July-August offers. The Cincinnati market remained at $320-$330/st FOB.

Western Cornbelt:

Potash was quoted at $315-$330/st FOB in the Western Cornbelt, with the low confirmed at St. Louis.

California:

Potash was unchanged at the $465-$470/st FOB level in California.

Pacific Northwest:

Potash pricing in the Pacific Northwest was quoted at $410-$443/st FOB or DEL for the last confirmed business, depending on grade.

Western Canada:

The potash market in Western Canada remained at C$475-$505/mt FOB from the mine, with the higher end of the range reflecting untested postings from producers.

Northwest Europe:

Potash prices in Northwest Europe were unchanged this week amid seasonally low demand. Sources reported no updates to producers’ offers, but buyers are intently looking to global markets, where the recent Chinese and Indian settlements were significantly lower than prior contracts.

Granular potash in Northwest Europe remained at €330-€350/mt CIF, while standard potash was unchanged at €315-€330/mt CIF.

Southeast Asia:

While spot business was limited this week, news of another contract settlement in China captured market players’ attention in the Southeast Asia region. ICL is reported to have settled at $273/mt CFR, the same price achieved by Uralkali two weeks prior, for the supply of around 850,000 mt of standard potash to Chinese importers.

Standard potash prices in Southeast Asia were stable at $275-$290/mt CFR. Granular potash is facing some downward pressure and has been assessed at $330-$340/mt CFR based on business and offers reported in Vietnam and Thailand.

Israel:

Standard potash prices ex-Israel and Jordan have been revised lower, in line with netbacks from the recent Chinese and Indian contract settlements. While spot business in the region remains thin and logistical challenges in the Red Sea persist, the latest contracts have resulted in netbacks in the $235-$245/mt FOB range.

China:

First-half potash imports in China saw a notable increase compared to the same period of 2023. Trade Data Monitor put January-June imports at 6.5 million mt, a 25% increase from the 5.2 million mt received in first-half 2023. Russia sent 2.1 million mt, while Belarus added 1.5 million mt. Canada shipped 1.3 million mt, ahead of 1 million mt from Laos.

June potash imports fell year-over-year, to 837,000 mt from 1.1 million mt. Second-quarter imports of 2.6 million mt were down marginally from the year-ago 2.7 million mt.

Brazil:

Potash imports remained at the week-ago $290-$305/mt CFR level, with some offers reported at $310/mt CFR for September delivery. The Brazilian market remained well supplied, with January-June imports tracking 16% ahead of last year.

Domestic potash prices dropped $5/mt, to $425-$440/mt FOB Rondonópolis, amid a backdrop of solid supply and steady 2024 sales in Brazil, higher inventories, and a lack of international purchasing. India recently finalized its supply contracts, while Europe has faced weak seasonal demand. Additionally, potash contracts in China were closed at lower prices, contributing to downward pressure on key global potassium markets.

Sulfur

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

Tampa:

Tampa molten sulfur contracts were valued at $76/lt CFR for the third quarter, a 6.2% decline from $81/lt CFR in 2Q.

US Gulf:

US Gulf sulfur prices firmed to $90-$95/mt FOB from the week-ago $80-$85/mt FOB.

Brazil:

The Brazil market continued at $119/mt CFR, players said, unchanged from one week earlier.

Vancouver:   

Vancouver prilled sulfur exports were stable at the $80-$86/mt FOB level.

Alberta:

Alberta sulfur netbacks continued in the (-)$39-$6/mt FOB range, and included both molten sulfur cargoes contracted into the US market and prilled material sold internationally through the Vancouver export market.

West Coast:

Sulfur loading from the West Coast was steady at $80-$86/mt FOB. Third-quarter molten sulfur contracts were reported at $58/lt FOB, down from $60-$62/lt FOB in the second quarter.

China:

The China import sulfur market was reported in the $122-$125/mt CFR range, unmoved from the prior report.

ADNOC:       

Sulfur produced by the Abu Dhabi National Oil Co. (ADNOC) was posted at $82/mt FOB Ruwais for July loading, up slightly from $80/mt FOB in June.

Qatar:

Sources reported the Muntajat posted price for July at $81/mt FOB Ras Laffan, up $2/mt from June’s $79/mt FOB posting.

Ammonium Thiosulfate

Amthio, California, Eastern Cornbelt, Market Watch, Pacific N.W., Western Cornbelt

Eastern Cornbelt:

The ammonium thiosulfate market dropped to $270-$300/st FOB for the last confirmed offers in the Eastern Cornbelt, with the low reported at Terre Haute.

Western Cornbelt:

Ammonium thiosulfate slipped to $250-$280/st FOB in the Western Cornbelt, depending on location, with the low reported at Waterloo, Iowa.

California:

Ammonium thiosulfate pricing was unchanged at $325-$340/st FOB in California.

Pacific Northwest:

The ammonium thiosulfate market remained at $305-$315/st FOB in the Pacific Northwest, with rail-DEL offers reported in the $295-$305/st range on a spot basis.

CAN

California, CAN, CAN-17, Germany, Market Watch, Pacific N.W.

California:

CAN-17 was pegged at the $320-$330/st FOB in California in late July, with the low confirmed at Stockton and the high at Helm.

Pacific Northwest:

CAN-17 pricing was steady at $332/st FOB in the Pacific Northwest.

Germany:

Limited activity for CAN in Germany resulted in slightly lower pricing, down €5/mt at the high end of the range, reflecting the latest sales. These transactions are for very limited volumes, however, with buyers remaining largely uninterested.