All posts by mickeybarb@charter.net

Ammonium Nitrate

Ammonium Nitrate, Market Watch, Poland, Western Cornbelt

Western Cornbelt:

Ammonium nitrate pricing was unchanged at $400/st FOB Lamar, Mo., and $420/st FOB St. Joseph, Mo.

Poland:

Grupa Azoty said its production of nitrogen fertilizers declined by 48% in May compared with a year ago, with output dropping to 140,000 mt from 271,000 mt in May 2022. The company’s output of compound fertilizers fell by 35%, to 50,000 mt from 77,000 mt, while production of specialty fertilizers declined by 48%, to 15,000 mt from 29,000 mt.

Azoty said late last month that it is stepping up its fertilizers and chemicals production across three of its business units (Azoty at Tarnów, Kędzierzyn-Koźle, and Puławy) amid falling natural gas prices in Europe and “a more promising” demand outlook (GM June 2, p. 26).

Ammonium Sulfate

Ammonium Sulfate, Brazil, California, China, Eastern Cornbelt, Market Watch, Pacific N.W., Western Canada, Western Cornbelt

US Gulf:

The NOLA ammonium sulfate barge market was described as “very quiet” at $300-$305/st FOB, with the low confirmed for a prompt sale at midweek.

Eastern Cornbelt:

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

Western Cornbelt:

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

California:

Ammonium sulfate was unchanged at $430-$465/st FOB in California, depending on grade, though rail-DEL offers in Northern California have reportedly slumped to a low of $420-$425/st on a spot basis.

Pacific Northwest:

The ammonium sulfate market tightened to $370-$400/st FOB or DEL in the Pacific Northwest, with the low for standard and the high for granular grade.

Western Canada:

Pricing for ammonium sulfate in Western Canada remained at C$510-$520/mt DEL for June tons.

China:   

Sources said the fate of amsul is tied to that that of urea. However, the Chinese urea market is moving at odds with the global market. While urea prices are softening from India to Brazil, prices remain firm in China and Southeast Asia.

Ammonium sulfate prices have also shown a degree of stability and firmness, and sources put the price for caprolactam grade amsul at $100-$105/mt FOB. Buyers pushing for lower prices are being rebuffed by sellers and eventually settle in the $100s/mt FOB.

Sources said most of the producers are sold out for June, forcing higher prices for any prompt shipments. July orders were said to fall toward the lower end of the existing range, while prices in the upper-$90s/mt FOB may be a possibility under the right circumstances.

Brazil:   

Demand for amsul in Brazil has dropped along with lower urea prices. Sources said ammonium sulfate is no longer a cheaper nitrogen substitute, and put the landed price at $145-$150/mt CFR, off about $10/mt from one week earlier.

The Rondonopolis price for ammonium sulfate also came down. Sources reported limited deals at $265-$275/mt FOB ex-warehouse, a drop of $15-$25/mt from last week.

DAP/MAP

Brazil, California, Central Florida, China, DAP/MAP, Eastern Cornbelt, Market Watch, Pacific N.W., U.S. Exports, U.S. Gulf, Western Canada, Western Cornbelt

Central Florida:

Central Florida DAP trucks were posted at $640/st FOB for the week, unmoved from the prior report. Truck-loaded MAP ran $10/st below DAP at $630/st FOB, also steady from one week earlier.

MAP truck postings from North Florida softened to $600/mt FOB, players said, down $50/st from the week-ago $650/st FOB.

US Gulf:

Players noted falling prices in the NOLA DAP barge market, while MAP barges held their value.

DAP barges were reported at a $440-$445/st FOB low for June and July loading, softening from the week-ago $449.50/st FOB floor. The values were attached to imported material believed to be of Saudi Arabian origin. Price ideas for non-import tons were heard closer to $450/st FOB, although no transactions were reported concluding at that level.

Sources put DAP bids at $420-$435/st FOB on June 14-15, while June DAP paper values were indicated in a $450-$470/st FOB range. Paper trading was noted at $410-$435/st FOB for September.

MAP prices were quoted at a $450/st FOB floor for imported tons, unchanged from last report, while domestic MAP changed hands at $470/st FOB early in the June 9-15 trading week, even with the week-ago top.

The NOLA DAP barge market was reported at $440-$445/st FOB, falling from $449.50-$462/st FOB in the prior report. Players quoted MAP barges in a $450-$470/st FOB range, unchanged from one week earlier.

US Exports:

Nothing new was reported on the US Gulf DAP and MAP export markets, leaving prices at the prior $520/mt FOB level.

Eastern Cornbelt:

DAP dropped to $540-$580/st FOB in the Eastern Cornbelt, down sharply from last week’s broad $580-$655/st range, with the low confirmed out of Ohio River terminals on a spot basis. MAP fell in the $550-$590/st FOB range in the region.

The Cincinnati DAP and MAP markets were both quoted at the $550/st FOB level late in the week, with rumors of DAP fill offers circulating in the low-$500s/st FOB for July-August shipment.

In the Northeast, the latest DAP offers at Fairless Hills were confirmed at the $650/st FOB level. In the Southeast, Nutrien reportedly dropped its MAP posting to $600/st FOB Aurora, N.C., and White Spring, Fla., down from the previous $650/st FOB posting.

Western Cornbelt:

DAP dropped to $560-$580/st FOB in the Western Cornbelt, with the low confirmed at St. Louis. MAP was pegged at $570-$590/st FOB in the region, with the St. Louis price reported at the upper end of the range for limited tons. Sources said lower July-August fill levels were being thrown around as well, but with no confirmed levels or sales.

California:

The California MAP market was steady at $780-$800/st FOB/DEL.

Pacific Northwest:

MAP remained at $760-$780/st FOB or DEL in the Pacific Northwest in mid-June.

Western Canada:

The MAP market in Western Canada was quoted at C$850-$860/mt FOB for June offers following a post-spring reset, down significantly from the prior C$1,150-$1,200/mt FOB level.

“Offers seem to be slow on summer fill, with the system empty and producers willing to play it slow,” commented one regional source.

China:    

Sources reported that June and first-half July DAP cargoes are sold out. Talks for any new business are now said to be centered on late July. The price has reportedly tightened to $465-$470/mt FOB on limited trading.

Brazil:

MAP prices at Brazilian ports tightened to $440-$450/mt CFR. Sources pointed to a 1.5 million mt excess of MAP relative to last year as one reason for the cooling market. There were reports of a deal as low as $430/mt CFR, but sources could confirm neither the buyer nor seller.

The price of MAP came off in Rondonopolis, to $575-$600/mt FOB ex-warehouse. Stronger demand is expected in the north-central region of the country in anticipation of the 2024-2025 season. Some larger cooperatives are anticipated to step in with aggressive purchasing ideas.

TSP

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

US Gulf:

NOLA TSP barges were noted in a $380-$400/st FOB range for the week, off from $390-$400/st FOB at last check.

Eastern Cornbelt:

TSP prices dropped to $510/st FOB Cincinnati for the latest offers.

Western Cornbelt:

TSP fell sharply at mid-month, to $450/st FOB St. Louis, down from $550/st at last report.

Brazil:   

The landed price shifted downward to $330-$350/mt CFR. The Rondonopolis price also dipped slightly, to $480-$500/mt FOB ex-warehouse.

Phosphoric Acid

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

Eastern Cornbelt:

June phos acid postings in the Eastern Cornbelt continued to be reported at the $9.50/unit rail-DEL level, well below May’s $14.00/unit rail-DEL posting.

Western Cornbelt:

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

California:

June pricing for phos acid was steady at $14.00/unit rail-DEL in California, unchanged from May, with MGA referenced at $14.20/unit FOB Lathrop.

Pacific Northwest:

The phos acid market for June remained at $13.50/st FOB Pocatello, Idaho, and $14.00/unit rail-DEL in the Pacific Northwest.

India:

Phosphoric acid contracts at India were valued at $970/mt P2O5 CFR for the second quarter, sources said. The market was priced at $1,050/mt P2O5 CFR in the first quarter, an $80/mt difference.

Ammonium Polyphosphate

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

Eastern Cornbelt:

The 10-34-0 market was steady at $675-$685/st FOB for the last confirmed offers in the Eastern Cornbelt, with the high reported out of inland terminals in Ohio.

Western Cornbelt:

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

California:

The 10-34-0 market in California was unchanged at $691-$696/st FOB Helm, with 11-37-0 pricing remaining at $753/st FOB El Centro.

Pacific Northwest:

10-34-0 continued at $650-$685/st FOB in the Pacific Northwest, depending on location and supplier, with 11-37-0 referenced at $745/st FOB Hedges and $725/st DEL in Idaho.

Western Canada:

The 10-34-0 market tightened to C$945-$955/mt DEL for the last confirmed business in Western Canada.

Muriate of Potash

Brazil, California, China, Eastern Cornbelt, India, Market Watch, Pacific N.W., Potash Muriate, U.S. Gulf, Western Canada, Western Cornbelt

US Gulf:

NOLA potash barges continued to be quoted at $380-$400/st FOB, with very little activity to test the market. “I think the China deal with Canpotex may lower the market before too long,” said one contact.

Eastern Cornbelt:

Potash remained flat at $420-$440/st FOB in the Eastern Cornbelt, with the Cincinnati market quoted at $420-$430/st FOB. Sources said the industry is waiting for fill programs to roll out later this month.

In the Northeast, Fairless Hills potash pricing was quoted at $450/st FOB for June shipment.

Western Cornbelt:

The potash market dropped to $415-$440/st FOB in the Western Cornbelt, with the low confirmed at St. Louis.

California:

Potash was steady at $605-$615/st FOB or DEL in California in mid-June.

Pacific Northwest:

Potash pricing in the Pacific Northwest remained at $525-$540/st FOB, with reference pricing steady at $560/st FOB/DEL for 60% MOP and $570/st FOB/DEL for 62% MOP.

The last potash postings FOB Moab and Wendover, Utah, included $505/st for 60% white standard and $515/st for 60% white granular.

Western Canada:

Potash prices for truck tons at the mine in Saskatchewan remained in the C$680-$695/mt FOB range, depending on grade. No potash fill programs were on the table at mid-month.

China:

Uralkali has signed Memoranda of Understanding (MOU) with five Chinese fertilizer importers under which it may supply a total of about 3.5 million mt of potash over three years, Bloomberg reported on June 15, citing a company statement.

The MOUs were signed with China National Agricultural Means of Production Group Corporation Ltd., Zhejiang AMP Group Co. Ltd., Beifeng Agricultural Production Means Group Co. Ltd, Inner Mongolia Tianyue Huijing Industrial Group Co. Ltd, and Suifenhe Guangcheng Economic and Trade Co. Ltd.

Under the terms of the agreements, Uralkali said it may supply 200,000-300,000 mt of potash annually to each of the importers. The potash is planned to be shipped to China by rail through land border crossings. The producer made no comment in its statement about the pricing of the tons.

Uralkali traditionally has sent sizeable volumes of potash to China by rail, in addition to seaborne volumes, agreeing to separate contracts for each.

Following Canpotex’s settlement of a potash supply contract with China at $307/mt CFR for shipments through Dec. 31, 2023 (GM June 9, p. 15), Uralkali said in a statement that it welcomed the conclusion of a contract with the Chinese buying consortium, but added that the $307/mt CFR price “does not meet our expectations given the market situation, and disrupts effective competition both in the region and worldwide.”

Since the imposition of EU and US sanctions, Belarus has substantially increased its exports to China by rail. Last year, according to an Interfax report citing Belarus Transport and Communications Minister Alexei Avramenko, Belarus railed more than 1 million mt of potash to China (GM Jan. 6, p. 28).

India:

National Fertilizers Ltd. (NFL) issued a tender on June 10 for the supply of 100,000 mt of standard potash for shipment in two lots. The minimum bid quantity for each coast is 25,000 mt. NFL requires shipment from the loading port within 25 days from the date of the issue of the LOI/PO, with the latest shipment date put at July 7.

The tender was originally due to close on June 19, but was subsequently extended to June 20.

No word was heard of any award under FACT’s tender for the purchase of 30,000 mt of standard potash for arrival at Tuticorin port between June 25 and July 10 (GM May 5, p. 14). The tender closed on May 15, with offers requested to remain valid for 15 days from the date of the tender opening.

Brazil:   

Potash prices dropped again in Brazil, with sources reporting the landed price at $310-$340/mt CFR. An excess of material – as much as 3.5 million mt – was cited as a major motivating force in the falling market.

Rondonopolis dipped slightly to $420-$445/mt FOB ex-warehouse. Sources noted new price discussions dropping to $400/mt FOB, but mostly for product from Belarus.

Sulfur

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

Tampa:

The second-quarter contract price of molten sulfur delivered to Tampa was set at $103/lt CFR, $27/lt below $130/lt CFR in the first quarter, a 20.8% decrease. The spot market has now fallen below the contract price, some market players said.

US Gulf:

The market remains under pressure, players reported. Prices were noted dropping to a $55-$65/mt FOB range, $5/mt below last week’s $60-$70/mt FOB.

Brazil:

Despite a lack of concluded business, market players put prices at $87-$95/mt CFR for the week, down about 17% from the week-ago $105-$115/mt CFR. Sources expect the next round of demand to be for August arrival.

Vancouver:   

Vancouver prices slipped to $70-$75/mt FOB, $10/mt below the prior $80-$85/mt FOB range.

Alberta:

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

West Coast:

West Coast prills were indicated on par with Vancouver in a $70-$75/mt FOB range.

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

China:     

The China import sulfur price fell nearly 13.5% week-over-week. Sources reported multiple transactions in a $90-$95/mt CFR range, a $15/mt drop from last week’s $105-$110/mt CFR.

ADNOC:

Prilled sulfur produced by the Abu Dhabi National Oil Co. (ADNOC) remained posted at $86/mt FOB Ruwais for loading in June. As with product loading from Qatar, buyers reported that a $10/mt discount may be possible on firm interest.

Qatar:

June Muntajat solid sulfur cargoes were posted at $86/mt FOB Ras Laffan, unchanged from May. Some players reported that a potential $10/mt discount could be available on firm interest.