US Imports:
Phosphate rock imports for March moved 49.3% higher year-over-year, to 396,212 st from 265,316 st. July-March imports firmed 2.6%, to 2.45 million st from 2.39 million st in the prior July-March. Peru shipped 2.45 million st in July-March, Canada sent 3,900 st, and Japan continued at 1,177 st.
US Exports:
July-March phosphoric acid exports were counted at 261,974 st, up 4.1% from the year-ago 251,688 st. March shipments fell 74.0%, however, to 11,161 st from 42,937 st in March 2023. India took 138,260 st of US phos acid in July-March, while Mexico followed with 79,586 st and Canada purchased 40,810 st.
Eastern Cornbelt:
May phos acid pricing was steady at $12.50/unit rail-DEL in the Eastern Cornbelt.
Western Cornbelt:
The phos acid market remained at $12.50/unit rail-DEL in the Western Cornbelt for May tons.
Northern Plains:
Phos acid pricing for May was pegged at $12.50/unit rail-DEL in the Northern Plains, unchanged from the April level.
Eastern Cornbelt:
10-34-0 was quoted at $565-$575/st FOB for the latest offers in the Eastern Cornbelt.
10-34-0 remained at $550-$575/st FOB in the Western Cornbelt, depending on location, with the upper end of the range reported in the Iowa market.
Northern Plains:
The 10-34-0 market firmed to $565-$575/st FOB in the Northern Plains, depending on location.
Northeast:
10-34-0 was unchanged at the $550/st FOB level in New York.
US Gulf:
The NOLA potash barge market remained at $300-$305/st FOB for new trades reported during the week, unchanged from last week.
US Imports:
July-March potash imports increased 20.6% year-over-year, to 10.58 million st from 8.77 million st. March shipments were 1.56 million st, up 33.5% from 1.17 million st in March 2023. Imports from Canada were reported at 8.96 million st in July-March, Russia sent 1.23 million st, and Israel contributed 268,466 st.
US Exports:
Potash exports moved 16.2% lower in March, to 414,362 st from 494,380 st in March 2023. July-March exports softened 6.0%, to 2.58 million st from the year-ago 2.75 million st. Exports to China totaled 534,902 st for the July-March fertilizer year-to-date, followed by 366,941 st to Brazil and 284,010 st to Malaysia.
Potash was quoted at $340-$365/st FOB in the Eastern Cornbelt, with the low reported on the Illinois River. The Cincinnati market was pegged at $355-$365/st FOB during the week, down from the last week’s $360-$370/st FOB level.
Western Cornbelt:
Potash continued at $345-$365/st FOB in the Western Cornbelt, depending on location, with the low reported at St. Louis and the high in Iowa.
Northern Plains:
The latest potash offers in the Northern Plains were quoted at $355-$365/st FOB St. Paul, with rail-DEL potash reported at the $360-$370/st level in the region. Potash pricing FOB Saskatchewan mines was quoted at $360-$365/st FOB, depending on grade.
Northeast:
Potash pricing in the Northeast remained at $355-$385/st FOB, depending on location, with the high confirmed at East Liverpool. Rail-DEL prices were reported at the $370-$380/st range in the region.
Eastern Canada:
Potash was steady at C$580/mt FOB regional warehouses for red granular tons in Eastern Canada.
Northwest Europe:
Demand for granular potash in the region remained muted, with only one unconfirmed deal heard at €340/mt CIF. Given the lack of buyer appetite, the high end of the range slipped to an indicative €350/mt CIF as European buyers continue to eye overseas markets for price direction. Standard potash remained at a significant premium to other regions at €320-€335/mt CIF.
Southeast Asia:
Standard potash prices in Southeast Asia were flat this week after last week’s reduction. Demand is muted, with the market awaiting direction from the pending India and China contract settlements. Granular potash prices in the region were also flat at $335-$355/mt CFR.
Brazil:
Imported potash prices in Brazil remained at $300-$310/mt CFR for the week. Product originating from Former Soviet Union (FSU) countries has surpassed the levels seen prior to the war in Ukraine, while increased production from Laos has helped to keep the Brazil market well supplied.
Potash prices were noted at $425-$440/mt FOB in Rondonópolis, widening from last week’s $430/mt FOB level.
Brazil imported 3.7 million mt of potash in January-April, according to Trade Data Monitor, a 7% increase from the year-ago 3.5 million mt. Canada led suppliers with 1.3 million mt, Russia sent 1.2 million mt, and Uzbekistan added 485,000 mt. April imports were pegged at 1.2 million mt, rising 18% from the 1.1 million mt received in the prior April.
Tampa:
The second-quarter Tampa molten sulfur contract was noted at $81/lt CFR, up 17.4% from $69/lt CFR in the first quarter.
US Gulf:
US Gulf sulfur prices pulled back to $88-$90/mt FOB on the latest round of transactions into Brazil, off $2-$5/mt from $90-$95/mt FOB at last report.
US Imports:
Sulfur imports softened 1.6% in March, to 220,550 st from 224,169 st in March 2023. Imports moved down 11.7% in July-March, to 1.85 million st from the previous year’s 2.09 million st. Canadian cargoes were noted at 1.02 million st in July-March, followed by Saudi Arabia with 160,344 st. Iraq sent 135,511 st, ahead of 131,469 st from Mexico.
US Exports:
Sulfur exports fell 41.9% in March, to 107,840 st from 185,599 st in March 2023. July-March totals firmed 0.5% year-over-year, however, to 1.66 million st from 1.65 million st. Brazil took 764,193 st in July-March, ahead of 482,199 st to Mexico and 176,631 st to New Caledonia. The US shipped 135,182 st to Morocco for the period.
Brazil:
New sulfur business into Brazil was reported in the $110-$111/mt CFR range, down from the week-ago $115-$120/mt CFR.
Vancouver:
Vancouver sulfur pricing dipped to $74-$77/mt FOB, a $3/mt decline from last week’s $77-$80/mt FOB range.
Alberta:
Alberta sulfur netbacks continued at (-)$34-$11/mt FOB, with molten sulfur cargoes contracted into the US market and solid material exported through the Vancouver export market represented in the range.
West Coast:
West Coast prills followed the Vancouver market to $74-$77/mt FOB. Second-quarter molten sulfur contracts were reported at $60-$62/lt FOB, rising from $50-$55/lt FOB in the first quarter.
China:
China prices slipped to $105-$107/mt CFR, down from $108-$111/mt CFR in the prior report, with sources noting reduced phosphate production rates and high sulfur inventories at the ports.
ADNOC:
Abu Dhabi National Oil Co. (ADNOC) sulfur firmed to $87/mt FOB Ruwais for May loading, up 2.4% from $85/mt FOB in April.
Qatar:
May Muntajat prices were posted at $86/mt FOB Ras Laffan, a $3/mt increase from $83/mt FOB in April.
US Gulf:
Sulfuric acid imports continued at $130/mt CFR in the US Gulf, unchanged from the prior week.
US Imports:
Sulfuric acid imports were up 12.3% in July-March, to 2.87 million st from 2.56 million st in the prior year. March imports moved 45.6% higher, to 378,096 st from the year-ago 259,602 st. July-March imports from Canada totaled 1.52 million st, Mexico sent 540,282 st, and Spain shipped 276,542 st.
US Exports:
Sulfuric acid exports for March slipped 26.7% year-over-year, to 15,123 st from 20,618 st. July-March shipments were 58.5% lower, at 144,093 st compared to 347,004 st through the same prior year period. July-March exports to Canada were noted at 98,842 st, ahead of 29,735 st to Mexico. Uruguay took 4,409 st.
Brazil:
Brazil sulfuric acid imports were steady in the $130-$140/mt CFR range.
Eastern Cornbelt:
The ammonium thiosulfate market in the Eastern Cornbelt widened to $285-$310/st FOB for limited tons. In the Great Lakes region, recent offers out of Michigan terminals were pegged as high as $335/st FOB in early May.
Western Cornbelt:
Ammonium thiosulfate remained at $285-$300/st FOB in the Western Cornbelt, with limited availability reported.
Eastern Canada:
Ammonium thiosulfate pricing was steady at C$475-$545/mt FOB for the last confirmed offers in Eastern Canada.
Germany:
CAN prices in Germany were stable at €255-€265/mt CIF amid limited demand. With fieldwork ongoing, no additional restocking demand has yet been reported, but June is expected to bring fresh demand and new-season pricing.
Cornbelt:
NPSZ pricing in the Cornbelt slipped to $700-$740/st FOB, depending on location.
US Imports:
SOP imports fell 34.3% in July-March, to 52,230 st from 79,460 st in the same prior year period. March imports were up 101.2%, however, to 19,639 st from the year-ago 9,762 st. German imports were counted at 25,030 st in July-March, Canada added 21,831 st, and Taiwan sent 2,431 st.
US Exports:
March SOP exports were 2,001 st, a 58.8% decline from the year-ago 4,859 st. Exports softened to 19,899 st in July-March, off 51.9% from the prior 41,410 st. Mexico purchased 9,694 st of US product in July-March, followed by Canada with 6,328 st. Exports to Singapore were steady at 2,142 st.
Eastern Canada:
SOP remained in a broad range at C$1,085-$1,200/mt FOB in Eastern Canada, depending on grade and location.
Northwest Europe:
Fresh granular SOP indications moved up €10/mt at the low end of the range due to some logistical constraints caused by port strike actions, though these disturbances are expected to be short-lived. Water-soluble SOP also moved up to €630-€650/mt CIF due to tight availability through the summer months.
