All posts by mickeybarb@charter.net

Ammonium Sulfate

Ammonium Sulfate, Brazil, China, Eastern Canada, Eastern Cornbelt, Market Watch, Northeast, Northern Plains, South Korea, U.S. Gulf, Western Cornbelt

US Gulf:

The NOLA barge market for ammonium sulfate remained at $300-$305/st FOB for the last business, though sources reported a limited number of transactions over the last three weeks.

Eastern Cornbelt:

Ammonium sulfate prices were steady at $385-$400/st FOB in the Eastern Cornbelt.

Western Cornbelt:

Granular ammonium sulfate remained at $360-$390/st FOB in the Western Cornbelt, with the low at St. Louis and the high in Iowa.

Northern Plains:

The granular ammonium sulfate market was pegged at $370-$405/st FOB in the Northern Plains, with the low at St. Paul and the high at Sioux City, Iowa. Delivered pricing in the region was reported in the $425-$450/st range for the latest offers.

Northeast:

Granular ammonium sulfate prices in the Northeast remained at $410-$425/st DEL and $405-$408/st FOB, as demand for sidedressing continues.

Eastern Canada:

Ammonium sulfate was quoted at C$670-$825/mt FOB in Eastern Canada, down C$20/mt at the low end of the range.

China:    

A tender held by Atlas Fertilizer Corp., in the Philippines, indicated netbacks to China in the low-$90s/mt FOB for caprolactam grade amsul. However, sources put the most likely netback at $95/mt FOB.

Area traders said an award at that level might be possible, but only once. Sources said the bulk of discussions for amsul from China remains at $100-$105/mt FOB. However, increased output from China could allow for more deals at the lower end of that range, with an occasional dip below $100/mt FOB.

China exported 4.7 million mt of ammonium sulfate in January-May 2023, according to Trade Data Monitor, an18% increase from the year-go 3.9 million mt. May exports stood at 1 million mt, up 30% from 781,000 mt shipped in May 2022. Brazil took 214,000 mt for the month, followed by Myanmar with 132,000 mt.

South Korea:

January-May ammonium sulfate exports totaled 72,000 mt, Trade Data Monitor reported, down about 27% year-over-year from 98,000 mt. All of South Korea’s 25,000 mt May exports went to the US. Exports were noted at 142 mt in May 2022.

Brazil:   

The landed price came in at $135-$145/mt CFR, down about $10/mt from the previous week.

The current amsul price, along with the rise in urea pricing, now puts the nitrogen value of the two products at near-parity. The soft urea prices in recent months have eliminated the advantage previously held by amsul in the blending process. A further rise in urea pricing, combined with a stable amsul price, could make ammonium sulfate attractive to blenders again.

The price in Rondonopolis moved up to $270-$310/mt FOB ex-warehouse. Sources attributed the shift to word of higher urea prices being achieved at the ports.

DAP/MAP

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

Central Florida:

Central Florida DAP trucks were posted at $470/st FOB, falling from $640/st FOB in the prior report. Truck-loaded MAP postings also softened, to $500/st FOB from the week-ago $630/st FOB.

MAP trucks loading from North Florida were quoted at $600/st FOB, unmoved from last week.

US Gulf:

Players reported firming in the NOLA DAP and MAP barge markets.

Early-week trades for imported tons were heard at $442/st FOB, while open offers lifted to $448/st FOB by midweek. Domestically-produced barges loading in late June or first-half July were quoted trading in a $445-$455/st FOB range, rising from the prior $445/st FOB top.

After weeks of minimal trading, domestic producers reported June and first-half July MAP barges changing hands as high as $475/st FOB, up $5/st from the recent $470/st FOB ceiling. Early-week trades for imported tons were noted at a $460/st FOB floor, above last week’s $450/st FOB. Nearby offers climbed to $480-$500/st FOB late in the week, while barges loading in September were confirmed trading at $485/st FOB on June 22.

Players pointed to tightening MAP supply as contributing to the higher values. A number of Russian MAP cargoes were reportedly diverted to Brazil in recent weeks ahead of a possible increase in countervailing duty rates in the US.

Based on reported trades, the nearby DAP market firmed to $442-$455/st FOB, rising from $440-$445/st FOB at last check. MAP barges loading from NOLA lifted to $460-$475/st FOB from the week-ago $450-$470/st FOB.

US Exports:

US Gulf DAP and MAP export offers were reported at $520/mt FOB, unchanged from previous levels.

Eastern Cornbelt:

DAP pricing slipped to $540-$550/st FOB in the Eastern Cornbelt, with MAP quoted at $550-$560/st FOB. The upper end of both ranges was reported at Cincinnati at midweek.

Western Cornbelt:

The DAP market dropped to $500-$540/st FOB in the Western Cornbelt, depending on location, with MAP pegged at $520-$560/st FOB in the region. The St. Louis market reportedly fell to $500-$510/st FOB for DAP and $520-$525/st FOB for MAP during the week.

Northern Plains:

Phosphate prices were down significantly in the Northern Plains as the season ends and demand drops, with the St. Paul market quoted at the $500/st FOB level for DAP and $540/st FOB for MAP. Sources described inventories as “empty” in the Twin Cities in mid-June.

Northeast:

The DAP market in the Northeast was quoted at $650/st FOB Fairless Hills and East Liverpool, Ohio, with MAP pegged at the $660/st level FOB East Liverpool. Those levels were down from late May offers at $650-$680/st FOB for DAP and $680-$700/st FOB for MAP.

Eastern Canada:

MAP prices in Eastern Canada were unchanged at C$1,049-$1,260/mt FOB, depending on location and supplier. DAP remained at the C$1,038/mt FOB level in Montreal.

China:   

Sources around the globe indicated a new DAP price level of $450-$460/mt FOB. Traders described fresh pricing in India as the strongest indication of the new Chinese price. While traders agree the price is in the $450s/mt FOB, some were hesitant to say the $450/mt FOB mark had been hit. However, others noted reports of that level being achieved. Further price declines are expected.

January-May DAP exports were reported at 1.5 million mt, according to Trade Data Monitor,up 35% from the year-ago 1.1 million mt. May exports were 516,000 mt, rising from 163,000 mt in May 2022, with India taking 394,000 mt.

MAP exports lifted 41% in January-May, to 878,000 mt from the prior-year 623,000 mt. May exports were noted at 208,000 mt, down slightly from 218,000 mt reported for the previous May. Argentina took 75,000 mt for the month, followed by Brazil with 59,000 mt. North Korea took 23,000 mt.

India:     

Sources saw initial discussions for new DAP imports starting in the low-$470s/mt CFR during the week. By the end of the week, however, traders reported deals at $455-$460/mt CFR. One trader expected prices to continue to fall. Few were willing to speculate on where the floor for DAP might ultimately end up.

Brazil:   

Demand for MAP remains weak as prices drift downward. Sources now put the portside price at $420-$440/mt CFR.

The Rondonopolis MAP price came off on limited demand, to $560-$590/mt FOB ex-warehouse.

TSP

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

US Gulf:

TSP barge pricing was noted in a $375-$390/st FOB range, off from $380-$400/st FOB reported previously.

Eastern Cornbelt:

The TSP market remained at $510/st FOB Cincinnati for the latest offers.

Western Cornbelt:

TSP was reported at $450/st FOB St. Louis for the last confirmed pricing.

Brazil:   

The landed price for TSP remained steady at $330-$350/mt CFR. Rondonopolis dipped to $450-$495/mt FOB ex-warehouse.

Phosphoric Acid

Eastern Cornbelt, India, Market Watch, Northern Plains, Phosphoric Acid, Western Cornbelt

Eastern Cornbelt:

June phosphoric acid postings in the Eastern Cornbelt continued to be reported at the $9.50/unit rail-DEL level.

Western Cornbelt:

Phos acid was unchanged at $9.50/unit rail-DEL for June tons in the Western Cornbelt.

Northern Plains:

Phos acid pricing was pegged at the $9.50/unit rail-DEL level for June shipments in the Northern Plains.

India:

Contracts for phos acid delivered to India were noted at $970/mt P2O5 CFR for the second quarter, an $80/mt decrease from $1,050/mt P2O5 CFR in the prior period.

Ammonium Polyphosphate

Ammonium Polyphosphate, Eastern Cornbelt, Market Watch, Northeast, Northern Plains, Western Cornbelt

Eastern Cornbelt:

The 10-34-0 market was unchanged at $675-$685/st FOB for the last confirmed offers in the Eastern Cornbelt.

Western Cornbelt:

10-34-0 was steady at $655-$675/st FOB in the Western Cornbelt, with the low reported in Nebraska and the high in Iowa.

Northern Plains:

The 10-34-0 market was unchanged at $650-$670/st FOB in the Northern Plains, with the low confirmed in North Dakota. Delivered pricing remained in a broad range at $700-$750/st for the last confirmed offers in central and western North Dakota.

Northeast:

The last confirmed 10-34-0 pricing remained at the $705/st FOB level in New York.

Muriate of Potash

Brazil, China, Eastern Canada, Eastern Cornbelt, India, Market Watch, Northeast, Northern Plains, Potash Muriate, South Korea, Southeast Asia, U.S. Gulf, Western Cornbelt

US Gulf:

NOLA potash barges remained at $380-$400/st FOB, unchanged from last week, with sources describing a very quiet market. “NOLA potash is a completely dead market,” commented one industry contact. “I think buyers are more focused on N and P and keep waiting for the summer fill prices.”

Eastern Cornbelt:

Potash remained at $420-$440/st FOB in the Eastern Cornbelt, with the low confirmed at Cincinnati.

Western Cornbelt:

Potash pricing dropped to $400-$440/st FOB in the Western Cornbelt, with the low confirmed at St. Louis and the high in Iowa.

Northern Plains:

Potash slipped to $425-$445/st FOB St. Paul, with delivered tons quoted at the $450-$470/st level in the Northern Plains. The latest prices FOB Saskatchewan mines remained at $462-$472/st, depending on grade. Sources expect potash fill prices to be announced in late June.

Northeast:

The potash market dropped to $445/st FOB East Liverpool and $450/st FOB Fairless Hills, down $10/st from last report. Delivered potash in central Pennsylvania remained at the $465/st level in mid-June.

Eastern Canada:

Potash pricing in Eastern Canada was steady at the C$740/mt level FOB regional warehouses.

China:

ICL Group Ltd. reported on June 22 that it has signed contracts with its customers in China to supply an aggregate volume of 800,000 mt of potash in 2023, with mutual options for an additional 350,000 mt, at a price of $307/mt CFR. The price is in line with other recent contract settlements.

ICL said the deals are part of 2022-2024 framework agreements that ICL inked with its Chinese customers in February 2022 (GM Feb. 18, 2022).

Potash imports totaled 4.2 million mt in January-May, Trade Data Monitor reported, a 20% increase from the year-ago 3.5 million mt. May imports stood at 659,000 mt, up from 543,000 mt received in May 2022. Belarus led May suppliers with 367,000 mt, while Russia sent 111,000 mt.

India:

National Fertilizers Ltd. (NFL) closed a tender on June 20 for the supply of 100,000 mt of standard potash for shipment in two lots (GM June 16, p. 15).

Southeast Asia:

Potash prices continue to weaken across the region as buyers try to match the China contract price of $307/mt CFR. Suppliers are reportedly resisting buyers’ pricing ideas for small volumes, however.

In Vietnam, deals involving mostly Uzbek tons have been reported at the $370/mt CFR level, while Indonesian buyers are reportedly looking to secure tons at $340/mt CFR for material from Belarus.

South Korea:

Trade Data Monitor reported January-May potash imports at 289,000 mt, down slightly from 297,000 mt noted one year earlier. Canada supplied 93% of South Korea’s 93,000 mt import total for May, sending 86,000 mt.

Brazil:   

The market keeps looking for a price floor. Sources put the latest price at $300-$320/mt CFR, while describing an oversupplied atmosphere. Traders are looking for both higher crop prices and increasing demand in order to not only find a floor, but see prices rebound.

Rondonopolis shifted marginally, to $420-$450/mt FOB ex-warehouse from last week’s $420-$445/mt FOB. The slight shift upward came from both growing demand and suppliers pushing for higher prices.

Sulfur

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

Tampa:

Third-quarter Tampa molten sulfur contracts remained unsettled for the week. Players are expecting settlements to come within the first few weeks of July. The second-quarter contract was set at $103/lt CFR, $27/lt below $130/lt CFR in the first quarter. Some sources put the current spot market below the second-quarter contract price.

US Gulf:

Market players reported prices in a $55-$65/mt FOB range. Some questioned whether rallies in the US phosphate and grain markets, the return of some phosphate production from turnaround, and a return to buying from Brazil might be enough to trim the length in the US Gulf market.

Brazil:

Sources expect the next shipment to Brazil to arrive in the second half of August. Prices were estimated at $80-$90/mt CFR, down from last week’s $87-$95/mt CFR.

Vancouver:   

Vancouver prices declined again, to $65-$70/mt FOB from the week-ago $70-$75/mt FOB.

Alberta:

Based on molten sulfur cargoes contracted into the US market and solid tons sold through the Vancouver export market, Alberta sulfur netbacks were unchanged in a (-)$12-$33/mt FOB range.

West Coast:

West Coast prills fell in line with Vancouver, to $65-$70/mt FOB.

Molten sulfur contracts were reported at $98-$106/lt FOB for second-quarter loading, falling from $125-$135/lt FOB in the prior period.

China:     

Prices at China remained at the week-ago $90-$95/mt CFR level.

ADNOC:

Prilled sulfur produced by the Abu Dhabi National Oil Co. (ADNOC) remained posted at $86/mt FOB Ruwais for June. Sources reported third-quarter contracts settling at $65/mt FOB.

Qatar:

June solid sulfur cargoes were posted at $86/mt FOB Ras Laffan, unmoved from May. Some sources reported a potential $10/mt discount available on firm interest.

Sulfuric Acid

Brazil, Chile, Market Watch, Sulfuric Acid, U.S. Gulf

US Gulf:

In the absence of both trades and demand, sources continued to estimate the spot market at $55-$65/mt CFR.

Brazil:

The Brazil price narrowed to $70-$75/mt CFR from the prior-week $70-$80/mt CFR. Due in part to an outage reported at a sulfuric acid production plant in Europe, players noted balanced sentiment in the market.

Chile:

A Capstone Copper tender for 30,000 mt for January, February, and March shipment was reported closing on June 21. No public results were available as Green Markets went to press.

Ammonium Thiosulfate

Amthio, Eastern Canada, Eastern Cornbelt, Market Watch, Northern Plains, Specialty, Western Cornbelt

Eastern Cornbelt:

Ammonium thiosulfate remained at $385-$400/st FOB in the Eastern Cornbelt, depending on location, with the Terre Haute, Ind., price unchanged at the $390/st FOB level.

Western Cornbelt:

The ammonium thiosulfate market remained at $340-$370/st FOB in the Western Cornbelt, with the low reported at Waterloo, Iowa.

Northern Plains:

The latest offers for ammonium thiosulfate remained at the $360/st FOB level in central North Dakota.

Eastern Canada:

The ammonium thiosulfate market was reported at C$635-$655/mt FOB in Eastern Canada in mid-June, down from the prior C$655-$660/mt range.