All posts by hlancey@bloomberg.net

Phosphoric Acid

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

Eastern Cornbelt:

May phosphoric acid pricing was steady at $12.50/unit rail-DEL in the Eastern Cornbelt, unchanged from April.

Western Cornbelt:

The phos acid market remained at $12.50/unit rail-DEL in the Western Cornbelt for May tons.

California:

May phos acid reference prices in California were unchanged from April at $12.85/unit rail-DEL, with MGA posted at $13.05/unit FOB Lathrop.

Pacific Northwest:

Phos acid reference prices in the Pacific Northwest remained at $12.85/unit rail-DEL and $12.35/unit FOB Pocatello, Idaho, for May, unchanged from April.

Ammonium Polyphosphate

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

Eastern Cornbelt:

10-34-0 was quoted at $545-$575/st FOB for the latest offers in the Eastern Cornbelt.

Western Cornbelt:

10-34-0 pushed up to $550-$575/st FOB in the Western Cornbelt, depending on location, with the upper end of the range reported in the Iowa market.

California:

10-34-0 remained at $587-$592/st FOB in California. 11-37-0 pricing in the state was quoted at $640-$645/st FOB in early May.

Pacific Northwest:

The 10-34-0 market was steady at $575-$585/st FOB in the Pacific Northwest, with the latest 11-37-0 offers quoted at $630-$635/st FOB and $620/st DEL in Idaho and Utah.

Western Canada:

10-34-0 prices bumped up to C$990/mt DEL in Western Canada for May shipments, above the prior C$965/mt DEL level.

Muriate of Potash

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

US Gulf:

The NOLA potash market tightened to $300-$305/st FOB for the latest trades, with the upper end of the range described as “easily done” in an active market. While reports of sub-$300/st FOB business continued to be heard, others attributed these deals to upfront rebates on imported tons.

Eastern Cornbelt:

Potash terminal prices remained at $340-$370/st FOB in the Eastern Cornbelt, with the low reported on the Illinois River and the high at Cincinnati. In the Great Lakes region, Michigan potash prices slipped to $365-$390/st FOB, depending on grade and location, with delivered red tons reported at the $393/st level.

Western Cornbelt:

Potash was quoted at $345-$365/st FOB in the Western Cornbelt, depending on location, with the low reported at St. Louis and the high in Iowa. In the Northern Plains, the latest St. Paul potash offers were pegged at $355-$365/st FOB.

California:

Potash continued at $525-$548/st FOB or DEL in California for the last offers.

Pacific Northwest:

Potash was unchanged at $495-$503/st FOB or DEL in the Pacific Northwest, with the high reflecting reference pricing for 62% MOP and the low for 60%. Potash postings from Intrepid FOB Moab and Wendover, Utah, were unchanged at $455/st FOB for 60% white standard and $460/st for 60% white granular.

Western Canada:

Truck pricing for potash at the mine in Western Canada was steady at C$540-$545/mt FOB for 2Q shipments, depending on grade.

Northwest Europe:

Minimal demand contributed to further downward pressure on potash prices in Europe this week, with additional price erosion expected to continue over the coming weeks. Granular potash prices in the region declined €5/mt on the high end, to €340-€360/mt CIF, with standard potash prices softening to €340-€360/mt CIF amid reports of ample stocks at warehouses.

Southeast Asia:

Standard potash prices in Southeast Asia saw a significant decline this week, falling to $280-$305/mt CFR on somewhat improved liquidity. Prices continued to show a wide range, with the low reflecting numbers achieved for larger volumes for palm plantations and the high reflecting values achieved on smaller parcels of 3,000-5,000 mt.

Granular prices in the region were flat at $335-$355/mt CFR amid no new business, with sources in Southeast Asia looking to neighboring India for further price guidance. No news was heard on the status of the Indian potash contract, but sources suggested a consensus pointing to a price around $290/mt CFR, sharply lower than the previous contract at $319/mt CFR.

Thailand:      

Buyers have been aggressively building potash stockpiles in Thailand. First-quarter imports totaled 199,000 mt, Trade Data Monitor reported, a significant increase from the year-ago 95,000 mt. Canada led suppliers with 64,000 mt, Belarus shipped 53,000 mt, and Laos sent 41,000 mt. March imports were 68,000 mt, up sharply from 12,000 mt in March 2023.

Brazil:

Imported potash prices continued in the $300-$310/mt CFR range in Brazil, while prices were reported at a flat $430/mt FOB Rondonópolis during the week, narrowing from the week-ago $420-$435/mt FOB, with players attributing the resilient market to leftover soybean season demand.

January-March imports rose 2% year-over-year. First-quarter arrivals included material of Laotian origin, a new supplier to Brazil.

Sulfur

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

Tampa:

Tampa molten sulfur contracts were reported at $81/lt CFR for the second quarter, up $17.4% from $69/lt CFR in the prior period.

US Gulf:

US Gulf sulfur was steady in the $90-$95/mt FOB range.

Brazil:

Brazil imports continued at the week-ago $115-$120/mt CFR, with the posted May FOB price from Qatar/Muntajat reflected in the top of the range.

Vancouver:   

Vancouver prilled sulfur prices were steady at $77-$80/mt FOB.

Alberta:

Alberta sulfur netbacks were estimated in the (-)$34-$11/mt FOB range, and included molten sulfur cargoes contracted into the US market and solid tons shipped internationally through the Vancouver export market.

West Coast:

On par with Vancouver, solid sulfur loading from the West Coast was stable at $77-$80/mt FOB. Second-quarter molten contracts were quoted in the $60-$62/lt FOB range, a $7-10/lt increase from $50-$55/lt FOB in the first quarter.

China:

China sulfur imports were steady at $108-$111/mt CFR during the week.

ADNOC:

Sulfur produced by the Abu Dhabi National Oil Co. (ADNOC) was posted at $85/mt FOB Ruwais for April loading, up 8.9% from $78/mt FOB in March. An updated price for May is expected soon.

Qatar:

Muntajat prices firmed 3.6% for May loading, sources said, to $86/mt FOB Ras Laffan from $83/mt FOB in April.

Ammonium Thiosulfate

Amthio, California, Eastern Cornbelt, Pacific N.W., Western Canada, Western Cornbelt

Eastern Cornbelt:

The ammonium thiosulfate market in the Eastern Cornbelt remained at $300-$310/st FOB for limited tons.

Western Cornbelt:

Ammonium thiosulfate pricing was quoted at $285-$300/st FOB in the Western Cornbelt, with limited availability reported.

California:

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

Pacific Northwest:

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

Western Canada:

Ammonium thiosulfate was pegged at C$480-$485/mt DEL in Saskatchewan.

CAN

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

California:

CAN-17 in California was quoted at $330-$345/st FOB in California in early May, depending on location.

Pacific Northwest:

The CAN-17 market was steady at $332/st FOB Kennewick in early May.

Germany:

CAN prices in Germany were stable this week at €255-€265/mt CIF, with ongoing application in certain pockets of the country resulting in some incremental volume movement. Cheaper imported tons are still available via rail/truck from Eastern Europe and Baltic ports.

With restocking still a few weeks away and no news available on new-season prices, it is expected that prices will remain stable for a few more weeks.