All posts by hlancey@bloomberg.net

Innophos Upgrades Calcium Phosphate Production

Canada, China, Mexico, News Briefs, Phosphate, U.S.

Specialty phosphate maker Innophos, Cranbury, N.J. on April 8 announced a significant upgrade and investment at its Chicago Heights, Ill., plant to serve the growing demand for European Commission-grade calcium phosphate.

“This investment reflects our commitment to providing our European customers with top-tier products and services,” said Migue DeJong, Innophos Commercial Director. “We recognize the growing need for high-quality calcium phosphates in the food, health, and wellness industry, and we are poised to meet this demand with our enhanced production capabilities.”

Innophos has an integrated manufacturing footprint that spans the US, Canada, Mexico, and China.

TFI Awards Biostimulant Certification to AgroLiquid

News Briefs, U.S.

The Fertilizer Institute (TFI) announced on April 9 that its newly launched Certified Biostimulant program has awarded the first certification for a biostimulant product.

“We are pleased to announce that AgroLiquid’s C-Tech biostimulant product has gone through the necessary steps to be recognized as a Certified Biostimulant by TFI,” said TFI president and CEO Corey Rosenbusch. “Upon thorough review of their data, research, and methodology, we have confirmed their adherence to industry-established standards, ensuring that among other criteria, proper experimental protocols were followed during efficacy testing.”

TFI’s Certified Biostimulant initiative aligns with the US Biostimulant Industry Guidelines, which set forth criteria for comprehensive documentation supporting efficacy testing methods, composition, and safety measures. Upon certification, a product is granted a distinctive label, signifying to agricultural retailers and consumers that it has undergone the necessary steps to meet the outlined standards in the guidelines.

“Biostimulants are a relatively new innovation in agriculture that have tremendous potential to enhance the existing environmental stewardship of growers and compliment 4R fertilizer practices,” Rosenbusch said. “But in countless conversations with ag retailers, what kept coming up was the lack of a standard when assessing the new products and deciding which products to stock and recommend to their grower customers.”

Rosenbusch said TFI’s Certified Biostimulant program was created to provide that standard. “When we talk nutrient management, we are talking about minimizing losses to the environment, water quality, air quality, soil health, and all the other things important to the conservation and environmental communities,” he added. “Biostimulants support environmental stewardship by improving the efficiencies of fertilizer application and soil health while also increasing crop yields.”

BCI Leases, Groundwater Plan Approved

Australia, News Briefs, Sulfate of Potash

Australian junior salt and sulfate of potash (SOP) producer BCI Minerals Ltd., West Perth, announced on April 8 that it has received two leases for its Optimized Mardie Salt and Potash Project (OMP) in Western Australia. The leases were approved by the Western Australia Department of Energy, Mines, Industry Regulation, and Safety and the company said the approval aligns with state environmental approval obtained in October 2023.

BCI said it has also received approval for its groundwater monitoring and management plan from the Western Australian Department of Water and Environmental Protection. BCI’s goal is to obtain all outstanding Commonwealth environmental approvals in first-half 2024. Thereafter, it hopes to commence operations and begin filling evaporation ponds.

“It is positive to see the approvals progressing through the regulatory process, and we are appreciative of the support of the State government thus far, bringing us one step closer to receiving final approval,” said BCI Managing Director David Boshoff.

BCI reported in August 2023 that the project would produce an estimated 5.35 million mt/y of salt, with the first shipment expected in 2026. BCI is targeting an estimated SOP production at Mardie of some 140,000 mt/y, with the first shipment in mid-2027.

Emmerson Raises Funds, Prepares New EIA

Morocco, News Briefs, Potash

Isle of Man-registered potash junior Emmerson plc, which is developing the Khemisset Potash Project in Morocco, announced on April 8 that it has raised a total of $2.175 million from two strategic investors.

Global Sustainable Minerals Pte Ltd. (GSM), the company’s largest shareholder, has subscribed to $2 million worth of stock, or approximately 90.7 million shares at 1.75 per pence, bringing its interest up to 20.3% and gaining a seat on the Board of Directors. Gold Quay Capital Pte Ltd. (GQC) has paid $175,000 for over 7.9 million shares and has a 2.64% stake. The placing price represents a 16.4% discount from the company’s five-day average of 2.09 pence.

Soon after the GSM and GQC subscription, the company offered shares to existing shareholders at the same price – 1.75 per pence – and pulled in another $301,000, issuing 13.7 million additional shares. The funds will be used to advance its new Khemisset Multimineral Process (KMP) as well as for general working capital purposes (GM Feb. 2, p. 28).

Emmerson and its consultants have been preparing a revised Environmental Impact Assessment (EIA) to address concerns previously raised by the Commission Régionale Unifiée d’Investissement (CRUI) (GM July 14, 2023) and includes the improvements arising from the KMP. The document will be submitted in the coming days.

The company said it believes the improvements incorporated by the KMP into the design, notably the reduction of water consumption and the elimination of brine disposal, are considerable and address the major concerns related to water identified by CRUI.

“While we maintain the previous EIA submission was adequate, we believe this, in addition to the previous optimizations, makes the revised EIA even more environmentally robust, and addresses all material concerns related to water that have been raised in the past,” said Emmerson CEO Graham Clarke.

Emmerson is targeting production of 800,000 mt/y of potash and 1 million mt/y of salt at Khemisset.

Sinofert to Sell Nitrogen Fertilizer Business

News Briefs, Nitrogen

Sinofert Holdings Ltd. on April 10 announced that its indirect subsidiary, Sinochem Fertilizer, will sell its nitrogen fertilizer business unit to associate ETEXE Technologies for about 41.5 million yuan. The proceeds will be used for working capital.

Sinofert said that since April 2022, except for the sale of nitrogen fertilizers to clear existing inventories and trading to meet national requirements, Sinochem Fertilizer has ceased to operate the nitrogen fertilizer trading business.

Since the unit had no production capacity of its own, the company said it was required to expend a large amount of money to procure product and that profits have been at a “low level.” Sinofert said the disposal will not impact Sinochem’s ability to sell other products, such as phosphate and potash. It said those businesses have a stable client base and distribution system.

Hyundai, Group DF Plan Chemical Park in Ukraine

Ammonia, Austria, Hydrogen, News Briefs, Nitrogen, South Korea, Ukraine

Group DF International and South Korea’s Hyundai Engineering Co. Ltd. have agreed to build a “chemical industrial park” in Ukraine’s western city of Rivne, the companies said in joint statement, according to Bloomberg. Group DF is Austrian-based industrial group owned by Ukrainian entrepreneur Dmitry Firtash.

The project entails construction of several plants including production of nitrogen fertilizers and “environmentally friendly” hydrogen and ammonia. It also involves the establishment of Ukraine’s first hydrogen and ammonia production based on renewable energy sources.

Group DF is an Austrian-based industrial group owned by Ukrainian entrepreneur Dmitry Firtash.

Fast-Track Sought for NZ Seabed Mining Project

News Briefs, Oceania, Phosphate Rock

The New Zealand government has asked Chatham Rock Phosphate (CRP) to make an application for its seabed phosphate rock mining plan to be considered as a listed project in the Fast Track Consenting Bill, Bloomberg reported, citing a company filing.

The company has been developing a plan to mine the mineral from a seabed near the Chatham Islands, off the nation’s South Coast. CRP said the new permitting regime “is potentially a game changer for resource projects and others considered to be of national significance in New Zealand.”

CRP said its application to be included on the list is under preparation and will be submitted well before the May 3, 2024, deadline. Applications will be assessed by an advisory group, and if included in Schedule 2A of the bill, will be automatically referred for fast-track approval.

Ammonia

Ammonia, Brazil, California, Eastern Cornbelt, India, Market Watch, Middle East, Northwestern Europe, Pacific N.W., Tampa, U.S. Exports, U.S. Gulf, U.S. Imports, Western Canada, Western Cornbelt

US Gulf/Tampa:

The Tampa ammonia price remained at April’s $475/mt CFR settlement, with no indications reported on the May contract.

US Imports:

Ammonia imports moved up 4.8% in February, according to data released by the US Census Bureau, to 189,063 st from the year-ago 180,371 st. Imports totaled 1.38 million st for the July-February fertilizer year-to-date, however, down 9.9% from 1.53 million st in the prior year. Canada sent 775,088 st to the US in July-February, Trinidad and Tobago shipped 547,994 st, and Saudi Arabia sent 22,091 st.

US Exports:

February ammonia exports were 42,973 st, a 32.5% decrease from the year-ago 63,710 st. Exports softened to 811,977 st in July-February, off 9.1% from the prior 893,299 st. Morocco was the top US export destination in July-February at 263,476 st, followed by Norway with 161,963 st. Chile took 83,115 st, ahead of 63,829 st to Mexico.

Eastern Cornbelt:

Ammonia pricing tightened to the $635-$650/st FOB range in the Eastern Cornbelt, with the low confirmed at Lima, Ohio. Most CF terminals remained at the $640-$645/st FOB level during the week. “Some areas haven’t turned a wheel yet, particularly in Ohio and Indiana,” said one regional contact.

Western Cornbelt:

With ammonia demand winding down in the region now that 70-80% of the preplant volumes have been applied, terminal prices reportedly dropped to $605-$645/st FOB in the Western Cornbelt, down from last week’s $635-$670/st FOB. Ammonia prices also slipped in the Southern Plains, with reports of new prompt offers falling to $575/st FOB Pryor, Okla.

California:

Ammonia list prices in California remained at $670/st DEL for anhydrous and $186-$196/st FOB for aqua ammonia.

Pacific Northwest:

Ammonia pricing in the Pacific Northwest edged up to $645-$650/st FOB regional terminals, with the aqua ammonia market quoted at $168/st FOB in the region.

Western Canada:

The latest spring ammonia offers in Western Canada were quoted at C$1,150/mt DEL and C$975/mt FOB Medicine Hat, Alta.

Northwest Europe:

Ammonia prices in Northwest Europe remained flat at $450-$460/mt CFR with no fresh spot business reported, natural gas prices range-bound, and European downstream demand described as muted.

The Northwest European import ammonia market remains largely insulated from the recent bullish Tampa settlement for April, but also from the bearishness evoked by the Marubeni deal into India at $282/mt CFR last week.

India: 

On the heels of last week’s one-off Marubeni sale into India at the dramatically low price of $282/mt CFR, other deals came under discussion at rates well below the $370s/mt CFR price reported in March.

The market’s latest move came through a $335/mt CFR cargo purchased under contract by CIL from a Southeast Asian supplier, a price below where a spot deal would likely be valued, sources said. The deal has moved the public price discussion, however, creating more room for buyers and sellers to maneuver.

Middle East: 

Sources cited the latest sale into India as the basis for a new price level. Even though the CIL purchase was reported as a contract deal and not spot, the price revealed a trend that others will watch closely. Though the India business was concluded with Southeast Asian material, sources estimated an Arab Gulf-equivalent price of $275-$285/mt FOB, based on standard freight and handling costs.

Discussions for new cargoes halted around midweek as the region began shutting down for the Eid al-Fitr holiday. Office hours are expected to return to normal next week.

First-quarter ammonia exports from Iran firmed 8% compared to the same period of 2023, Trade Data Monitor reported, lifting to 154,000 mt from 143,000 mt. India took 128,000 mt for about 83% of the exports, followed by Turkey with 20,000 mt. March exports stood at 100,000 mt, up significantly from the 45,000 mt shipped in March 2023.

Brazil:

An occasional exporter of ammonia, Brazil shipped just 60 mt in the first quarter, according to Trade Data Monitor, compared to 33,000 mt exported in January-March 2023. The entire 60 mt went to Uruguay.

January-March ammonia imports totaled 108,000 mt, a 31% increase on the year-ago 82,000 mt, with all of the tonnage coming from Trinidad and Tobago. March imports fell 24%, however, to 33,000 mt from 44,000 mt in March 2023.

Urea

Brazil, California, China, Eastern Cornbelt, ethiopia, India, Indonesia, Market Watch, Mediterranean, Middle East, Pacific N.W., U.S. Exports, U.S. Gulf, U.S. Imports, Urea, Western Canada, Western Cornbelt

US Gulf:

Urea prices fell sharply at NOLA after India issued letters of intent (LOIs) for just 340,000 mt in its latest tender, well below expectations. After starting the week with loaded barge business at the $330/st FOB level, prompt prices reportedly dropped to $290-$305/st FOB after India’s announcement, with full April and early May trades slipping to $280-$294/st FOB.

Those levels were down significantly from the prior week’s $320-$370/st FOB range for prompt and full April trades.

US Imports:

Urea imports for July-February rose 6.4% year-over-year, to 2.78 million st from 2.61 million st. February imports were 642,138 st, however, down 2.6% from 659,508 st in the year-ago period.

July-February imports from Russia were 865,752 st, while Qatar sent 585,573 st. Saudi Arabia took third place with 380,301 st, ahead of 350,804 st from Algeria and Canada’s 260,030 st.

US Exports:

Urea exports for February stood at 56,310 st, falling 38.6% from the year-ago 91,752 st. July-February exports totaled 575,285 st, a 48.1% tumble from the 1.11 million st posted one year earlier.

Exports to Canada totaled 376,239 st in July-February, followed by 83,851 st to Mexico and 77,077 st to Chile.

Eastern Cornbelt:

The sharp drop in NOLA barge prices pressured regional urea prices during the week. Sources quoted the market at $405-$430/st FOB in the Eastern Cornbelt, down from last week’s $440-$460/st FOB range, with the low confirmed out of Illinois River terminals on a spot basis. The Cincinnati, Ohio, market was pegged at $425/st FOB, down from $455-$460/st FOB, with reports of May-June offers dropping to the $400/st FOB level.

In the Great Lakes region, the latest urea offers were reported at $455-$460/st FOB Michigan terminals for April tons, down from last week’s $490-$495/st FOB range.

“I think we will continue to see a major inversion from NOLA pricing to terminal pricing this season until the tail end, with the added value put on product in place at the terminal,” said one Eastern Cornbelt source.

Western Cornbelt:

Plunging NOLA barge values pushed urea terminal prices lower in the Western Cornbelt during the week. The regional market was quoted at $400-$440/st FOB, down $20/st from last week, with the high reported in Iowa. The St. Louis, Mo., market was pegged at $400-$415/st FOB, down from $420-$430/st FOB.

Urea prices also dropped in the Northern and Southern Plains, with the latest St. Paul, Minn., offers quoted at $450-$460/st FOB and the Catoosa/Inola, Okla., market reported at $445-$460/st FOB.

California:

Granular urea pricing in California was steady at $545/st FOB Stockton, with prilled urea remaining at the $580/st level FOB San Diego. Rail-DEL urea prices were confirmed at the $560-$570/st level in the state during the week.

Pacific Northwest:

Urea prices remained at $525/st FOB Rivergate, Ore., and $530/st FOB Aurora, Ore., with rail-DEL offers ranging widely at $540-$590/st in the Pacific Northwest, depending on location.

Western Canada:

Delivered urea in Western Canada edged up to a firm C$780/mt in early April, up from a low of C$770/mt DEL in mid-March.

India: 

Rashtriya Chemicals and Fertilizers Ltd. (RCF) shook the market this week when it issued LOIs to purchase just 340,000 mt of urea from its March 25 tender, after initially receiving confirmed commitments for 724,150 mt. Traders said the decision to more than halve the tender’s expected purchase amount came within an hour of the deadline to issue the LOIs.

In the days following the decision, sources sought reasons for the unexpected reduction. At the time of the tender’s closing, many had speculated that RCF would not take many tons because of the record urea reserves reported in India.

March reserves were reported at 8.5 million mt, while domestic production was simultaneously said to be on the rise. Still, the market expected RCF to take the 724,150 mt offered by suppliers matching the lowest East Coast and West Coast prices.

With RCF seemingly ready to take less than 1 million mt at the tender’s outset, sources were already predicting lower prices in the next tender. Some speculated that a whispering campaign centered on the potential for RCF to take fewer tons could pressure the market further, giving the Indian government even more influence in the next tender.

The Department of Fertilizer reportedly reviewed stockpiles of urea in areas served by the ports. In the end, it suggested a much smaller amount for delivery to the East Coast. Ultimately, RCF took only the 90,000 mt offered by Samsung – its lowest East Coast offer – along with the 50,000 mt offered by Liven as part of its low West Coast offer, and another 200,000 mt from OQ Trading for West Coast deliveries.

West Coast – $339/mt CFR
Offering Company Quantity (mt) Discharge Port
Liven – L1 50,000 Kandla
OQ Trading 50,000 Mundra
  50,000 Pipavav
  50,000 Rozi
  50,000 Jaigarh
Total – West Coast 250,000  
East Coast – $347.70/mt CFR
Offering Company Quantity (mt) Discharge Port
Samsung – L1 45,000 Kakinada
  45,000 Krishnapatnam
Total – East Coast 90,000  
     
Total 340,000

The companies holding the nearly 400,000 mt of additional urea originally planned for inclusion in a larger award are now looking for buyers, sources said. Some of the cargoes slated for April loading need to find a new destination quickly, said one trader, and substantial discounts are already being offered to liquidate the material.

If India’s seasonal rains are as healthy as predictions indicate, sources said a new tender will be needed. The new tender call is most likely to come around the May 20 shipping deadline for the RCF tender, players said. By then, the bulk of the unawarded tons will either be sold to other buyers or offered at deep discounts. At the same time, Chinese urea will be available for export, adding more supply to a market already flush with product.

Mediterranean:

Offers for fresh tons in Italy fell to $350/mt CFR amid little-to-no buyer interest at the start of the week. Later in the week, however, Italian buyer bids were heard at $335-$340/mt CFR.

A sale of Egyptian product at $350/mt CFR late last week into nearby Romania set the high end of the range, but expectations are that prices will continue to slump following India’s surprise purchase of just 340,000 mt. Egyptian granular urea indications slipped to $310/mt FOB by midweek, which was not enough to trigger buyers against ample April availability.

The Mediterranean granular urea range was pegged at $335-$350/mt CFR as a result, with more clarity expected next week when the Eid holiday in North Africa concludes. Prills in the region were quoted at $340-$360/mt CFR, in line with the granular slump.

Southeast Asia:

No new granular urea business was confirmed this week in Southeast Asia. Malaysia’s Petronas remains firmly off the spot market, busy fulfilling contract commitments after Gurun and Bintulu returned from long turnarounds. Indonesia continues to lack export permits for granular urea, with any business limited to small lots of prills.

Despite the lack of product availability, the outcome of the recent India tender is expected to weigh on buyers’ price ideas in the region. For now, the Southeast Asia granular urea range remains unchanged at $320-$360/mt FOB, with expectations of downward pressure ahead.

Indonesia:     

Sources expect a selling tender for granular urea to be announced by the end of April. The late-April timing would withhold Indonesian product from direct competition with most of the urea that was expected to be part of a larger Indian order.

Prior to India’s surprise purchase reduction, the estimated granular price was noted in the upper-$350s/mt FOB, with prill prices from a selling tender expected in the low-$330s/mt FOB.

Pupuk Holdings was said to be ready to call a granular tender. At the time, players expected a possible price dip into the $340s/mt FOB. Now, with more material in the marketplace than expected, all bets are off, said one trader. Indonesian players are now said to be recalculating their positions, and sources said the Indian move pushed pricing expectations near the breakeven point for Indonesian producers.

Middle East: 

Most of the 340,000 mt ordered in the RCF tender will be sourced from the Arab Gulf, players said, though there are hints that about 100,000 mt may come from Baltic sources.

Despite Arab Gulf producers supplying the bulk of the order, excess material will continue to build up, and prices are now expected to come off in the region. Sources have already reported an unconfirmed offer of Iranian material at $270/mt FOB.

Some traders have reportedly begun talking about new prices from the Arab Gulf at $300-$320/mt FOB, through no deals were done at this level. Once the surprise Indian action was announced, producers pulled back from any talks for material loading in April-May. In addition, many offices either closed or reduced operations at midweek for the Eid holiday. Normal business hours are expected to resume next week.

For now, Arab Gulf price estimates remained at $325-$335/mt FOB, based on the West Coast India delivered price.

Egyptian producers also retreated following the Indian tender action. Sources estimated price ideas at $310/mt FOB, down about $18/mt from the last-done business, fitting with reports of Algeria pricing reported at $320/mt FOB.

However, Egyptian sources – while acknowledging the impact of the Indian action ­– reported that no new business was done to justify a price shift. New discussions are not expected to get serious until next week, when post-holiday business hours return to normal.

Iran shipped 1.3 million mt of urea in January-March, Trade Data Monitor reported, a 110% increase from the 633,000 mt sent during the first three months of 2023. Turkey took 693,000 mt, and Brazil bought 190,000 mt. March exports were noted at 393,000 mt, more than double the 192,000 mt shipped in March 2023.

China:

Offtake for China’s domestic application season appears to be at its peak. Local inventories have been on the decline as farmers get more serious about urea application, sources reported.

Ex-plant prices remained steady, offering no new guidelines for theoretical export prices. However, RCF’s action to take fewer tons than predicted has reduced global pricing expectations, which also closed the gap between China’s anticipated export price and the domestic price.

Urea production in the country has eased to about 180,000 mt/d after churning out 185,000 mt/d in late March. The production cutback is reportedly due to some key plants taking maintenance turnarounds.

Exports from China may begin as soon as early May instead of the previously predicted second half of the month. Factories have reportedly been informed they can begin the CIQ inspection process on April 15. The process is expected to take 10 working days, which would allow for tons to be moved to export facilities as soon as May 1. Earlier this week, sources said customs officials were still refusing to accept any paperwork related to urea exports until May 1.

The request for export clearance must originate at the factory. This requirement makes it unclear how the tonnage already at the ports might be affected. Previously, sources said tons that had been cleared before the export restrictions were imposed might still be allowed to ship once the restrictions were lifted.

Regional buyers in Asia who require small tons on a rapid basis are likely the most immediate beneficiaries of the move, while buyers in Latin America could be the first to receive larger shipments. Chinese producers had already been locked out of the RCF/India tender because of limited expectations that a cargo could be cleared in time to meet the tender’s May 20 shipping deadline. A subsequent Indian tender would include June shipping, giving Chinese producers a chance to participate.

Factories were also reportedly told the CIQ inspection will only be permitted through the end of August, which could technically allow for September shipments. While a limited window of export opportunities was expected, an Aug. 31 cutoff date would come sooner than sources had anticipated.

Ethiopia:       

Ethiopian Agricultural Businesses Corp. (EABC) has called a purchase tender for 261,444 mt of granular urea to close on April 25. EABC appears to be seeking five lots of 52,000 mt each to be delivered by late June or early July. Offers will be considered on a lot-by-lot basis.

The last Ethiopian tender showed prices at $358-$380/mt CFR. Due both to India’s lower purchase total in the RCF tender and the anticipated return of Chinese urea to the market by late May, offers are expected to soften in the new tender.

Brazil:

The Brazil granular urea market dropped to $300-$305/mt CFR on news of reduced volumes taken in the India tender, off 9.7% week-over-week and down 23.4% from the $395/mt CFR reported on March 8. Bids were noted at $290-$295/mt FOB during the week, with offers for product from sanctioned origins falling below that range.

Rondonópolis prices softened to $460-$480/mt FOB, down $10-$15/mt from last week’s $475-$490/mt FOB. With most buyers reportedly unwilling to compromise on price in the current market, sources predicted further drops ahead.

Brazil urea imports firmed 16% year-over-year, Trade Data Monitor reported, to 1.6 million mt from 1.4 million mt. Nigeria supplied 388,000 mt, ahead of both 258,000 mt from Qatar and Oman’s 229,000 mt, while Venezuela added 181,000 mt. March 2023 imports were 379,000 mt, up 11% from 341,000 mt in the prior March.

UAN

California, Eastern Cornbelt, France, Market Watch, Pacific N.W., U.S. Exports, U.S. Gulf, U.S. Imports, UAN, Western Canada, Western Cornbelt

US Gulf:

The NOLA UAN barge market remained quiet, with no new trades reported to move the range from the prior $270-$280/st ($8.44-$8.75/unit) FOB level.

US Imports:

UAN imports for July-February fell 21.0%, to 1.48 million st from the year-ago 1.86 million st. February imports moved down 15.1%, to 212,320 st from 249,987 st in February 2023. Russia sent 846,765 st for July-February, while Trinidad and Tobago shipped 291,986 st, slightly ahead of 290,739 st from Canada. 

US Exports:

February UAN exports fell 22.8%, to 128,793 st from the year-ago 166,804 st. July-February exports moved down 27.4%, to 1.34 million st from 1.84 million st in the prior year. France purchased 375,889 st of UAN from the US in July-February, Australia took 299,186 st, and Argentina received 210,302 st.

Eastern Cornbelt:

The UAN-32 market remained at $310-$320/st ($9.69-$10.00/unit) FOB regional terminals, depending on location. The Cincinnati market was pegged at $310-$315/st ($9.69-$9.84/unit) FOB, down $5/st from last week, with UAN-28 quoted at 272-$277/st ($9.71-$9.89/unit) FOB Cincinnati.

Western Cornbelt:

UAN-32 remained at $310-$325/st ($9.69-$10.16/unit) terminals in the Western Cornbelt, depending on location and time of shipment.

California:

UAN-32 slipped to $340-$360/st ($10.63-$11.25/unit) FOB terminals in California, down $10/st at the low end of the range. Rail-DEL tons bumped up to $370-$380/st ($11.56-$11.88/unit) in Northern California, however.

Pacific Northwest:

UAN-32 was quoted at $345-$350/st ($10.78-$10.94/unit) FOB regional terminals, with the low reported at Kennewick, Wash. Delivered pricing was pegged at $340-$350/st ($10.63-$10.94/unit) in the Pacific Northwest.

Western Canada:

UAN-28 prices remained at a solid C$480/mt (C$17.14/unit) DEL in Western Canada, unchanged from last report.

France:

Prompt Rouen UAN prices were flat this week on muted demand and fairly stable natural gas prices. New-season offers were again reported around the €220/mt FCA mark, with the expectation that prompt prices will soon correct to match new-season pricing.