All posts by hlancey@bloomberg.net

DAP/MAP

Baltic Sea, Benelux, Brazil, Central Florida, China, DAP/MAP, Eastern Canada, Eastern Cornbelt, Great Lakes, India, Market Watch, Northeast, Northern Plains, U.S. Exports, U.S. Gulf, Western Cornbelt

Central Florida:

Central Florida DAP dropped to $600-$630/st FOB, with the bottom of the range set by railed product. MAP remained stable, with truck prices unchanged at $655/st FOB. North Florida MAP postings continued at $650/st FOB.

US Gulf:

NOLA DAP prices traded slightly lower, losing $5/st on the bottom of the range to settle at $525-$550/st FOB during the week. Sources reported DAP paper for May at $475/st FOB and June paper in the $455-$485/st FOB range.

NOLA MAP barges plummeted 12.3% as sellers revised offers lower during the week, with new trades falling to $480-$485/st FOB from last week’s $550/st FOB.

US Exports:

With no new spot business reported, the US Gulf DAP and MAP export markets continued at $570/mt FOB.

Eastern Cornbelt:

DAP slipped to $660-$680/st FOB in the Eastern Cornbelt, with the low reported out of spot Illinois River terminals. Most Illinois terminals were pegged in the $665-$675/st FOB range at mid-month, while the Cincinnati DAP market dropped to the $665/st FOB level for new business, down significantly from the prior $685-$710/st FOB range.

MAP was pegged at $680-$710/st FOB in the region, with the low again reported out of spot Illinois River terminals. MAP pricing at Cincinnati was quoted at $690-$695/st FOB.

Western Cornbelt:

DAP was reported at $655-$695/st FOB in the Western Cornbelt, down $5-$10/st from last week, with MAP quoted at $675-$710/st FOB in the region. St. Louis offers slipped to $670-$680/st FOB for DAP and $690-$700/st FOB for limited MAP tons.

Northern Plains:

DAP was quoted at $680-$690/st FOB St. Paul, with MAP reportedly down to $700-$710/st FOB at the Cities, below the prior $715-$725/st FOB range.

Great Lakes:

MAP was pegged at a firm $710-$720/st FOB in the Great Lakes region for prompt tons, with limited DAP offers reported at the $695-$708/st FOB level.

Northeast:

The DAP and MAP markets in the Northeast were quoted at $695/st FOB and $700/st FOB, respectively, with rail-DEL pricing pegged at the $725/st level for MAP.

Eastern Canada:

MAP pricing in Eastern Canada was unchanged at C$985-$995/mt FOB, with DAP remaining at C$945/mt FOB Montreal.

Benelux:

DAP prices in Benelux were stable this week at €600-€610/mt FCA, with no new deals reported at the tail end of the spring season. However, with the US dollar appreciating close to 1% against the euro, the nominal US dollar prices for DAP have shifted lower to $637-$650/mt FCA.

Baltic:

Baltic DAP prices moved lower this week, to $485-$595/mt FOB, with the low end reflecting Indian netbacks on Russian product following a decline in India prices to $548/mt CFR in the recent National Fertilizers Ltd. (NFL) tender. The higher end of the range was based on Lithuanian DAP netbacks from Northwest Europe.

China:

The rumored restrictions on urea exports could also affect DAP and MAP exports from China. The reports coming out of China mentioned a restriction on fertilizer exports in general, sources said, rather than on one specific type of fertilizer.

So far, said one trader, only urea producers have been approached about the possibility of limiting exports. Phosphate producers are already in the process of clearing tons for shipment, with some material reportedly ready for loading at ports.

No new spot deals were reported. Sources looked to the NFL tender results from last week as a guide to DAP pricing at China. Even though the NFL cargo will most likely originate from Russia, sources estimated the China-equivalent netback at $528-$530/mt FOB.

India: 

NFL has issued an award in its tender for 45,000-50,000 mt of DAP, sources said, with the final price reported at $548/mt CFR for May shipment. The product will reportedly come from Russia.

Another tender, held by Gujarat State Fertilizers and Chemicals Ltd. (GSFC), closed on April 18, an extension on the planned closing date. While the tender reportedly shows a lower price of $542/mt CFR, the buyer is said to be seeking an even bigger discount.

Brazil:

The landed MAP price in Brazil increased by $5/mt, settling at $570-$575/mt CFR. Significant soybean season demand is expected in the weeks ahead.

MAP prices slipped in Rondonópolis, however, to $705-$720/mt FOB from $710-$720/mt FOB at last report. While some noted a feeling of stability in the market, others are awaiting the return of Chinese product and expect prices to drop going forward.

TSP

Brazil, Eastern Cornbelt, Great Lakes, Market Watch, Triple Superphosphate, U.S. Gulf, Western Cornbelt

US Gulf:

NOLA TSP barges were reported at $440-$445/st FOB, narrowing from $435-$450/st FOB at last report.

Eastern Cornbelt:

TSP was unchanged at $520-$530/st FOB in the Eastern Cornbelt, with the low reported at Cincinnati.

Western Cornbelt:

TSP remained at $515-$520/st FOB in the Western Cornbelt, with the low confirmed at St. Louis and the high at Caruthersville, Mo.

Great Lakes:

Delivered TSP was quoted at the $563/st level for April-May tons in central Michigan.

Brazil:

Brazil TSP imports were reported at $415-$425/mt CFR, up $5/mt from the prior $410-$420/mt CFR. Rondonópolis TSP prices ticked down to $540-$555/mt FOB, however, off from last week’s $540-$560/mt FOB, with sources noting ample supply in the region.

SSP

Brazil, Market Watch, SSP

Brazil:

SSP 19-21 prices firmed $5/mt in Brazil, to $195-$215/mt CFR from $190-$210/mt CFR at last report. Prices continued in the $305-$340/mt FOB range at Rondonópolis on reports of firm inland supply, while offers priced above that range reportedly failing to transact.

Phosphoric Acid

Eastern Cornbelt, Great Lakes, Market Watch, Northern Plains, Phosphoric Acid, Western Cornbelt

Eastern Cornbelt:

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

Western Cornbelt:

The phos acid market was unchanged at $12.50/unit rail-DEL in the Western Cornbelt for April tons.

Northern Plains:

Phos acid pricing for April was pegged at $12.50/unit rail-DEL in the Northern Plains, steady from the March level.

Great Lakes:

Phos acid was referenced at $12.50/unit rail-DEL for April shipments in the Great Lakes region.

Ammonium Polyphosphate

Ammonium Polyphosphate, Eastern Cornbelt, Great Lakes, Market Watch, Northeast, Northern Plains, 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 was unchanged at $515-$550/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 was pegged at $550-$570/st FOB in the Northern Plains, depending on location.

Great Lakes:

10-34-0 pricing in the Great Lakes region remained at $550-$575/st FOB in mid-April.

Northeast:

10-34-0 was unchanged at $550/st FOB in New York.

Muriate of Potash

Brazil, Eastern Canada, Eastern Cornbelt, Great Lakes, Market Watch, Northeast, Northern Plains, Northwestern Europe, Potash Muriate, U.S. Gulf, Western Cornbelt

US Gulf:

The NOLA potash market remained at $305-$310/st FOB for the latest trades, unchanged from last week.

Eastern Cornbelt:

Potash was steady at $365-$375/st FOB in the Eastern Cornbelt, depending on location, with the low reported at Cincinnati and out of spot Illinois River terminals.

Western Cornbelt:

Potash pricing remained at $355-$375/st FOB in the Western Cornbelt, with the low reported at St. Louis.

Northern Plains:

The latest potash offers in the Northern Plains reportedly slipped to $365/st FOB St. Paul, down from the prior $375-$385/st FOB range. Rail-DEL potash was reported at the $360-$380/st level in the region, reflecting a $10-$20/st drop. The latest prices FOB Saskatchewan mines were quoted at the $360-$365/st FOB level, depending on grade.

Great Lakes:

Potash pricing in the Great Lakes region was quoted at $380-$400/st FOB, depending on location and grade, with the high confirmed in Michigan for white potash. Delivered red potash in central Michigan was pegged at the $408/st level.

Northeast:

The potash market in the Northeast was reported at $355-$385/st FOB, depending on location, with the high confirmed at East Liverpool, Ohio. Rail-DEL prices slipped to the $380-$390/st range in the region, down another $5/st.

Eastern Canada:

Potash was down C$45/mt in Eastern Canada, to C$580/mt FOB regional warehouses for red granular tons.

Northwest Europe:

Granular potash prices in Northwest Europe fell €5/mt, to €350-€370/mt CIF, following eight weeks of steady pricing on muted demand. The softer market has been long touted by market participants, with the expectation that prices will retreat further given the existing premium over global potash prices. Standard potash also moved lower, to €320-€340/mt CIF.

Brazil:

Imported potash prices in Brazil were steady at the $300-$310/mt CFR level. Players estimated Brazil’s remaining demand at 15% for the soybean season.

Rondonópolis prices were unchanged from the week-ago $420-$435/mt FOB level. With a large portion of the market already covered, sources reported a lower volume of negotiations during the week.

Sulfur

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

Tampa:

Second-quarter Tampa molten sulfur contracts were valued at $81/lt CFR, a 17.4% increase from $69/lt CFR in the first quarter.

US Gulf:

The US Gulf sulfur market was stable at the $87-$90/mt FOB level, players said.

Brazil:

Brazil sulfur imports firmed $3/mt at the top of the range, to $115-$120/mt CFR from the prior week’s $115-$117/mt CFR.

Vancouver:   

Vancouver solid sulfur pricing continued at the $77-$80/mt FOB level.

Alberta:

Alberta sulfur netbacks were estimated at (-)$34-$11/mt FOB. Molten cargoes contracted into the US market set the high and low of the range, while solid tons sold through the Vancouver export market tracked toward the upper end.

West Coast:

West Coast prills were noted in step with Vancouver at $77-$80/mt FOB. Second-quarter molten contracts settled at $60-$62/lt FOB, up from $50-$55/lt FOB in the first quarter.

China:

China sulfur imports were steady at $105-$109/mt CFR, with sources describing the market as “dead.”

ADNOC:

Abu Dhabi National Oil Co. (ADNOC) sulfur was posted at $85/mt FOB Ruwais for April loading, sources said, an 8.9% increase from $78/mt FOB in March.

Qatar:

Muntajat offers for April were reported at $83/mt FOB Ras Laffan, up $5/mt from March’s $78/mt FOB posting.

Correction:

In the April 12 issue, Green Markets incorrectly reported the ADNOC posted sulfur price for April at $83/mt FOB Ruwais. The correct price is $85/mt FOB Ruwais.

Ammonium Thiosulfate

Amthio, Eastern Canada, Eastern Cornbelt, Great Lakes, Market Watch, Western Cornbelt

Eastern Cornbelt:

The ammonium thiosulfate market was steady at $270-$310/st FOB in the Eastern Cornbelt, with the low confirmed at Terre Haute, Ind. The Cincinnati market was quoted at the $275/st FOB level at mid-month.

Western Cornbelt:

Ammonium thiosulfate remained at $280-$300/st FOB in the Western Cornbelt, with the low reported at Waterloo, Iowa.

Great Lakes:

The latest ammonium thiosulfate offers fell in the $275-$310/st FOB range in the Great Lakes region at mid-month, depending on location, with the low confirmed at Muskegon.

Eastern Canada:

The ammonium thiosulfate market firmed to C$475-$545/mt FOB for the last confirmed offers in Eastern Canada, up C$20/mt at the low end of the range.