All posts by mickeybarb@charter.net

Lifosa to Suspend Production Again Due to NH3 Shortages

Lithuania, News, News Briefs, Phosphate

Lithuanian phosphate fertilizer producer AB Lifosa, a subsidiary of EuroChem Group AG, once again is suspending operations at Kėdainiai due to a shortage of ammonia, LTR, the Lithuanian national broadcaster, has reported.

Operations will be suspended gradually between Sept. 13-15. The company’s main product is DAP, with a production capacity of some 1 million mt/y.

According to Lifosa CEO Regvita Ivanovienė, as cited by the report, operations are being suspended due to the sudden rise in natural gas prices, as well as due to the suspension of operations by the country’s only ammonia producer, Achema.

Lifosa only resumed operations on Aug. 7 (GM July 1, p. 28), and had warned at the time that operations might have to be suspended again due to an ammonia shortage (GM Aug. 19, p. 31).

The producer had been forced to halt operations in April after banks froze the company’s accounts the previous month after the European Union (EU) imposed sanctions on EuroChem’s former controlling shareholder and CEO, Russian billionaire Andrey Melnichenko on March 9 (GM April 15, p.1; March 11, p. 1).

BHP Eyes Quick Doubling of Jansen Capacity

Australia, News, News Briefs, Potash, Saskatchewan

BHP Group Ltd., Melbourne, is eyeing the quick doubling of potash capacity at its Jansen project in Saskatchewan, according to a report by the Australian Financial Review, citing a recent speech by BHP CEO Mike Henry on Sept. 1 to a group of shareholders.

“The original intent was that we would develop Jansen Stage 1, leave that for a period of time after it was producing, and then look at potentially developing Jansen Stage 2,” Henry was quoted as saying. “We want to have the option to be able to pull the trigger more quickly on Jansen Stage 2 if market circumstances warrant – and right now, we have seen disruption in potash markets as a result of the tragic events that have unfolded in the Ukraine.” He added that there is some potential to move Jansen Stage 2 a lot further forward than previously expected.

BHP earlier this summer moved first production for Jansen Stage 1 to 2016 from 2017 (GM July 22, p. 30). It reported that the Jansen shaft project was completed in the June 2022 quarter and the US$5.7 billion Jansen Stage 1 is tracking to plan, with activities progressing at the port and at the Jansen site. As of July, Stage 1 was 8% complete. On completion, it will have capacity to produce 4.35 million mt/y.

Summit Nutrients Acquires AGVNT

Florida, News, News Briefs, Specialty

Summit Nutrients LLC., a manufacturer and marketer of bio-nutritional and fertilizer products based in Belle Glade, Fla., announced on Sept. 8 that it has acquired AGVNT LLC, an R&D company known for pioneering technology related to nutrient efficiency innovations.

Summit said the intellectual properties acquired include patents, trademarks, registrations, data packages, and physical assets associated with the formulation and manufacturing of technologies. As part of the transaction, AGVNT’s research workforce has transferred to Summit, along with its manufacturing divisions.

“AGVNT is recognized throughout the industry for its high-performing, differentiated technology, which will position us for future growth in serving a greater diversity of crops and geographies,” said Jeremy Fountain, Director of Business Development for Summit Nutrients. “By pairing AGVNT’s market-leading assets with our rapidly transforming portfolio, manufacturing, and commercial product skills, we immediately offer a compelling value proposition which we plan to scale across more acres domestically and internationally.”

Summit said the acquisition is part of its growth strategy to build “the industry’s broadest, most robust platform of nutrient efficiency technologies.” Summit’s parent company, Wedgworth’s Inc., has reportedly worked closely with AGVNT over the last five years to develop more than 100 different bio-nutritional granular and liquid custom-blended products, which have been commercially applied on more than five million US crop and turf acres to date.

“We are thrilled to join Summit Nutrients because of its impressive agronomic and commercial capabilities,” said Patrick Chapman, President and Co-owner of AGVNT. “The ability to expand AGVNT’s commercial reach and be part of a broad product portfolio was a great incentive. Together, both organizations can move forward on multiple levels, including R&D, joint development opportunities, manufacturing, and commercial activities.”

Summit said it is launching six solutions in the agriculture, turf, and ornamental markets that use nanobubble gases, new chelation and biostimulant technology, active carbon complex technology, and new nutrient delivery and compatibility technology. With record-high fertilizer costs looming over the 2023 planting crop season, Fountain said there has never been a more urgent time for the introduction of new technology and products to help customers maximize efficiencies.

“Bringing AGVNT into the fold bolsters our ability to create value in multiple areas including nutrient use efficiency, abiotic stress tolerance, biological and microbial soil health, and intrinsic yield improvement,” he said. “To our knowledge, no company in the plant nutrition sector has this caliber of proprietary technology under one roof like we have today – allowing us to become a one-stop shop for next-generation solutions.”

Ammonia

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

US Gulf/Tampa:

Tampa ammonia remained at $1,150/mt CFR for September, up from August’s $1,100/mt CFR.

With another boost in Cornbelt pricing, NOLA barges were back at the Tampa equivalent of $1,044/mt FOB.

Eastern Cornbelt:

After the prior week’s rapid run-up, ammonia prices settled at $1,250-$1,300/st FOB in the Eastern Cornbelt during the week, depending on location and supplier, with the low confirmed at Lima, Ohio, and the high reflecting the last offers from CF out of terminals in Illinois and Indiana.

Western Cornbelt:

The ammonia market was quoted at $1,200-$1,225/st FOB in the Western Cornbelt, with the low confirmed in Nebraska and Iowa and the high at Palmyra, Mo.

California:

Anhydrous ammonia postings from Calamco remained at $1,147/st DEL in California, with aqua ammonia posted at $301/st FOB Stockton.

Pacific Northwest:

Delivered ammonia pricing in the Pacific Northwest was quoted at $1,200/st during the week, up from August offers in the $1,050-$1,100/st DEL range. The FOB market was pegged at $1,070-$1,200/st in early September, depending on location, supplier, and time of shipment.

Aqua ammonia pricing firmed to $295/st FOB in the region.

Western Canada:

The last offers for ammonia in Western Canada were reported in a broad C$1,500-$1,800/mt DEL range for fall tons, up dramatically from the C$1,320/mt DEL pricing reported in mid-August.

Northwest Europe:

A small sale of domestic material in Cologne, Germany, at $2,120/mt CIF caused market sources to begin speculation on how prices might move in the Northwest Europe market. Sources said the equivalent price in Rotterdam would be about $1,900/mt C&F, but there are no talks at present that reflect anything near that amount.

Sources said talks about pricing in Northwest Europe have not moved anywhere close to $2,000/mt C&F. They are convinced, however, that prices will begin to rise. One trader said there is a lot of space between the current $1,290/mt C&F and the calculated price from the Cologne deal for a price shift. As talks begin and deals are made, sources expect to see the price increase, but one that settles closer to $1,400-$1,500/mt C&F rather than $2,000/mt C&F.

Prices of product from Indonesia, Trinidad, and the Arab Gulf continue to reflect the current level. However, with producers everywhere beginning to ask for higher levels, deals into Europe could soon reflect the $1,500/mt C&F.

India:

Sources said buyers are spending more time talking with potential Chinese suppliers. Reportedly, China has more ammonia on hand than it needs for its own use and is offering the tons at favorable prices to buyers.

Traders said the latest Indian deals for ammonia from China are coming in at $850-$870/mt CFR, compared with the $1,200/mt FOB offers coming from the Arab Gulf. Sources said while the amount of ammonia flowing from China to India did not appear to exceed 22 mt in the first half of the year, according to Trade Data Monitor, that number is expected to begin increasing in August and into the fourth quarter.

China:

Exports of ammonia have been stepping up, especially as Indian buyers keep looking for alternative sources from the more expensive Arab Gulf. So far, China has concentrated on fellow East Asian countries such as South Korea. Going into the last quarter of the year, however, sources said the market should see an increase in tonnage flowing to India.

Middle East:

Arab Gulf producers are claiming they are sold out through October. Any discussion of purchases supposedly is for November at $1,200/mt FOB.

Sources said if a buyer were to step up to the $1,200/mt FOB mark and ask for a prompt shipment, they are pretty sure a producer or two will be willing to make the deal. However, at this point no one is willing to pay that much for ammonia from the Gulf. The desired price of the producers would fit with the price expectations in Northwest Europe.

That same price, however, is too high for buyers in Southeast Asia. With prices out of Indonesia reported around $1,000/mt FOB, the price of Arab Gulf product is too much to accept.

So far, the cargoes heading to Southeast Asia from the Arab Gulf are all based on previous deals closed at much more favorable rates to the buyers. With the Southeast Asian economies slowing down because of inflation, higher interest rates, and COVID, many of the buyers are asking for only the bare minimum required of those contracts and – in some cases – a deferment of shipments.

The reduction in exports to Southeast Asia has some producers concerned that a surplus of material could begin building in a way that would be a force against producers’ attempts at higher prices.

Southeast Asia:

Sources reported that Trammo bought a cargo from Mitsubishi out of Indonesia at $950-$1,000/mt FOB. Sources said because the deal came late in the week, markets did not have time to react to it. Next week could see some price shifting as a result, however.

The Trammo cargo could easily be shipped to Northwest Europe and still fit in with the existing price of $1,290/mt C&F. For one trader, the deal underscored how lower prices in areas such as Southeast Asia are having a direct impact on holding back radical price shifts in Europe.

The deal, however, also showed that even the global market will impact local deals. Recent sales to South Korea and Taiwan at $900/mt CFR are now far behind. With pressure for tons from Europe causing buyers to reach around the world for product, and with Arab Gulf producers pushing for higher prices, sources said eventually the delivered price in the region will have to come up.

Brazil:

Imports of ammonia for January-August 2022 were reported at 319,000 mt by Trade Data Monitor, down 27% from the 436,000 mt imported during the same period in 2021. Trinidad, to no surprise, dominated the import market with 269,000 mt.

August 2022 imports were reported at 48,000 mt, down marginally from the 51,000 mt received in August 2021. Trinidad ammonia accounted for 74% of the import market with its 35,000 mt. The US sent 12,000 mt to Brazil for the balance of the August imports.

Urea

Black Sea, Brazil, California, China, Eastern Cornbelt, India, Indonesia, Market Watch, Middle East, Pacific N.W., U.S. Gulf, Urea, Western Canada, Western Cornbelt

US Gulf:

NOLA granular urea barges topped out and were in retreat as the week progressed. The market was called $630-$680/st FOB, down from the week-ago $680-$710/st FOB.

Eastern Cornbelt:

Urea prices in the Eastern Cornbelt were pegged at $715-$745/st FOB for new offers, with both the high and low confirmed at Cincinnati, Ohio, as the week progressed.

Western Cornbelt:

Urea prices were slipping in the Western Cornbelt, fueled by falling NOLA barge values. The regional market was pegged $690-$720/st FOB, depending on location and timing, with St. Louis, Mo., pricing reported at $690-$705/st FOB, down from the prior week’s $710-$725/st FOB range.

The Catoosa/Inola, Okla., urea market was reported at $702-$715/st FOB during the week, with St. Paul, Minn., pricing quoted at $705-$730/st FOB.

California:

Urea prices were moving up in California, with reports of new bulk offers firming to $840/st FOB Stockton, up from the previous $710-$760/st range FOB port terminals. Reference prices for bagged urea were reported at $900/st FOB Stockton.

Pacific Northwest:

The urea market was pegged at $750-$755/st FOB in the Pacific Northwest, with the low confirmed at Rivergate, Ore. Rail-DEL pricing ranged from $730-$780/st FOB in the region, up from $650-$670/st DEL in mid-August.

Western Canada:

Urea prices continued to climb in Western Canada, fueled by the recent surge in NOLA barge pricing and Europe’s gas-related nitrogen outages.

Sources pegged the market at C$1,100-$1,135/mt FOB for September tons and up to C$1,130-$1,150/mt FOB for October-November, with new delivered postings also confirmed in the C$1,130-$1,150/mt range.

India:

The urea industry spent the past week looking for indications of how prices will go in the Indian tender that closed on Sept. 9. They were also speculating where the tonnage will come from to cover the 1 million mt desired by RCF.

The first set of offers were opened in the so-called technical round, showing 16 companies offering a total of 2.25 million mt. Offers to deliver to West Coast ports dominated the offers at 1.2 million mt. East Coast deliveries came in at 930,000 mt. In addition to the 2,155,900 mt offered by traders, Fertiglobe offered 90,000 mt on an FOB basis.

Offering Company Quantity Offered (mt) Delivery Port
Ameropa 47,150 Mundra
47,150 Mundra
47,150 Pipavav
42,000 Pipavav
47,150 Kakinada
47,150 Paradip
47,150 Krishnapatnam
42,000 Krishnapatnam
Swiss Singapore 90,000 ECI
200,000 WCI
OQ Trading 90,000 ECI
135,000 WCI
Samsung 45,000 ECI
180,000 WCI
Midgulf 100,000 ECI
100,000 WCI
Sabic 100,000 WCI
Aries 95,000 ECI
Fertcom 45,000 ECI
45,000 WCI
Fertiglobe 90,000 WCI
Koch 45,000 ECI
45,000 WCI
Gavilon 45,000 ECI
45,000 WCI
Keytrade 38,000 ECI
42,000 WCI
Dreymoor 60,000 WCI
Sun International 54,000 ECI
AgriCommodities 50,000 ECI
Wilson 50,000 ECI

Throughout the week, traders focused on the dangers to the market if prices come in too high or too low. Rumors circulated earlier in the week that at least one trader was holding a cargo that had to be liquidated at $580/mt FOB from the Arab Gulf. If that trader dumped that load on the Indian tender, the price into India would have been around $600/mt CFR. The buyer would have been required to accept that offer as the lowest one presented and ask other traders to match the price. Sources said no one would be able to meet that price, leaving RCF with only that one cargo. This would force India to call another tender quickly.

If prices were too high, RCF would be reluctant to take the full 1 million mt it wanted. Sources said only by having prices in the $650-$720/mt CFR range would there be enough tons to cover the 1 million mt demand at a price the Indian treasury could accept.

Another quick tender because of a limited take due to high prices or because of an outlier disrupting the market would have pushed the market to much higher levels, said sources. The week opened with traders speculating that offers would be around $700-$720/mt CFR. As the week progressed, however, softer prices began to filter into the discussions. By the end of the week most were convinced the price would settle at $650-$680/mt CFR.

Sources said reports out of India indicate prices appear to be at $670-$680/mt CFR for East Coast arrival and $685/mt CFR for West Coast deliveries, with no word on the price connected to the direct offer of 90,000 mt by Fertiglobe. Sources said RCF will most likely not release the prices until Monday. One trader said RCF is notorious for being methodical and bureaucratic in its handling of tenders.

If the rumors are true, sources said the urea market will see a slight bullish shift, but no major jolts to pricing or availability.

Sources said it may be difficult, but not impossible, for RCF to secure all the tons it wants. Estimates are that the buyer should be able to secure 800,000 mt for sure and possibly the full 1 million mt. The bulk of the tonnage is expected to come from the Arab Gulf. Chinese product could be limited to only 100,000 mt or two cargoes.

There are expectations that some sizable offers backed by Russian tons will also play a role in the tender. At least a cargo or two is expected from Indonesia and Nigeria. Product from Vietnam is seen as too expensive to be offered into India.

For traders looking to snag an award, the wild card remains China. While sources said 100,000 mt would likely be the total authorized for export, they have a series of concerns. Reportedly so far not even the expected 100,000 mt has cleared the customs process in China, and there is concern the paperwork might not be completed in time for the Oct. 21 shipping deadline.

On the other hand, some have raised concerns that the clearance process could be sped and more than the 100,000 mt might be made available for export. Either way, said one trader, all calculations will have to be redone.

As of the calling of the tender, India had an expected annual deficit of 4 million mt of urea. If RCF achieves its goal of 1 million mt, the country will need to bring in another 3 million mt by the first quarter of 2023. Sources expect to see even higher prices as India would have to compete with buyers around the world at a time when winter will require governments to emphasize natural gas supplies for home heating instead of industrial output.

Local media reported calls for more intensive inspections at warehouses to ensure subsidized urea purchased for agricultural purposes is not diverted to industrial use. To prevent the possibility of diversion, the government mandated all subsidized urea be coated with neem. The coating helps slow the distribution of urea into the soil and makes it unusable in industry.

The call for stepped-up investigations came as more reports surfaced of local distributors removing the neem and selling the urea to local factories.

Black Sea:

Sources reported public deals coming out of the Black Sea are not from Russia, but from its eastern neighbors. Shipments are heaping out of Poti in Georgia on the eastern shore of the Black Sea. Other deals from Uzbekistan and Turkmenistan are also being shipped out.

Sources put the price of the granular shipments around $690-$730/mt FOB, with prilled sales pegged at $550-$600/mt FOB. Reportedly, the upper end of the range was where deals were discussed at the beginning of the week. As the week ended, however, the discussion slipped to the lower end of the range.

Some Russian material is expected to be offered in the Indian tender. Sources said the tonnage is most likely part of the offers submitted by companies that have traditionally handled Russia urea. The most likely players are Dreymoor and Trammo.

Indonesia:

Sources reported a urea sale to Swiss Singapore at $600-$623/mt FOB. The deal showed a continued mild strengthening in Indonesian prices. The tonnage is expected to be included in the RCF/India tender offers. Reportedly producers settled after pushing hard for $700/mt FOB.

Middle East:

Sources said Arab Gulf producers are expected to supply at least 250,000 mt for trader offers into the Indian tender. Only one direct offer of 90,000 mt was made by Fertiglobe in the tender.

Sources reported the paper market for the Arab Gulf at $700-$750/mt FOB for September and $680-$695/mt FOB for October.

Reports circulated of a new cargo sold from an Iranian source to Brazil at $530/mt FOB. Once freight and costs are added in, sources said the landed price would be about $690/mt FOB. This would be about $100/mt below the current landed price in Brazil, but not an unusual gap in pricing. Rumors circulated in Brazil this week that a cargo selling for less than $700/mt CFR was coming from Iran.

A late-week deal out of Egypt softened prices out of the North African country. Sources said a deal closed at $850/mt FOB. The final destination was unclear, but sources said it could be combined with other smaller Egyptian deals into an offer to India under its tender.

The product could also be headed to Europe. Sources reported the high price of natural gas in Europe makes importing urea – even at high prices – more favorable than producing the product. Several sales in July and August showed a growing interest in Egyptian urea by European buyers, pushing the price higher each day. After a few weeks rest, the price seems to have come off the $885-$900/mt FOB deals.

Egyptian producers have indicated they expect to see demand for their urea step up into the fourth quarter. At that time, they also expect to see prices hit $1,000/mt FOB.

The paper market for Egypt is not as bullish on pricing, however. Sources reported the paper market for Egyptian urea through the end of the year is steady at $810-$840/mt FOB.

China:

Sources said at least 100,000 mt of Chinese urea is expected to be offered in the RCF/India tender. Traders said the number makes sense and fits with the general view that China will slowly release limited quantities of urea for export. However, one trader said he was unsure if the paperwork to release the tonnage has even started.

Traders said offers of Chinese material in the RCF tender will be made only if there are assurances the tons will be released to allow the trader to meet the tender’s Oct. 21 shipping deadline.

Sources estimated the current export price to be about $580/mt FOB for either prilled or granular urea. However, one trader noted he has only seen prilled urea in the portside lineups.

Brazil:

Business is slow, as buyers and sellers spent the week speculating about the Indian tender. Prices this week came out to $780-$800/mt CFR on limited business.

International traders said Brazil will soon have to step up its urea purchases, and the competition for product could see higher prices. Likewise, sources said buyers in Brazil had the benefit of several floaters being unloaded at once. An international trader noted the floaters are now gone and Brazil will still need more product.

Lower-priced urea from Iran and Venezuela is not expected to mitigate any upcoming price increases. Sources said once the discounted material arrives, it is worked into the local distribution network where the price savings vanish.

Reports in Brazil of a cargo coming from Iran for less than $700/mt CFR were confirmed from international traders. The cargo reportedly sold for $530/mt FOB out of Iran. Once freight and costs are tacked on, the landed price is estimated at $690/mt CFR.

Deals in Rondonopolis closed higher at $910-$955/mt FOB ex-warehouse. Some of the buying is expected to slow down. Blenders have begun to talk about buying the cheaper ammonium sulfate to supply the nitrogen requirements for their products.

January-August 2022 urea imports were reported at 4.5 million mt by Trade Data Monitor, down about 4.5% from the 4.7 million mt imported during the first eight months of 2021. The top three suppliers were Oman with 885,000 mt, Nigeria with 820,000 mt, and Qatar with 807,000 mt.

August 2022 imports were reported at 698,000 mt, up 27% from the 551,000 mt imported in August 2021. The main suppliers this year were Russia with 158,000 mt, accounting for 23% of urea imports; Qatar with 130,000 mt for 19% of the import market; and Iran with 99,000 mt for 14% of the imported urea.

UAN

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

US Gulf:

NOLA barge price ideas continued to move up. Sources reported a $500-$520/st ($15.63-$16.25/unit) FOB range, up from last week’s $460-$520/st ($14.28-$16.25/unit) FOB, with some saying the higher end was more likely.

Eastern Cornbelt:

UAN-32 terminal prices inched up to $535-$565/st ($16.72-$17.66.unit) FOB in the Eastern Cornbelt, with new UAN-28 offers confirmed at $485-$495/st ($17.32-$17.68/unit) FOB Cincinnati, up from $412-$433/st FOB just two weeks earlier.

Western Cornbelt:

The UAN-32 market firmed to $525-$565/st ($16.41-$17.66/unit) FOB in the Western Cornbelt, up from the prior week’s $510-$535/st FOB range, with the low reported at Port Neal, Iowa, and the high at Muscatine, Iowa. New offers in the Northern Plains included $570-$575/st ($17.81-$17.97/unit) FOB Winona, Minn.

The Stockton UAN-32 market was quoted at $565-$590/st ($17.97-$18.44/unit) FOB for new business, with the low reflecting the Sept. 8 posting from IRM. Other reference levels in early September included $595/st ($18.59/unit) FOB Port Hueneme and $600/st ($18.75/unit) FOB West Sacramento.

California:

UAN-32 pricing in California was pegged at $565-$600/st ($17.66-$18.75/unit) FOB, depending on location, up significantly from the last confirmed $490-$505/st ($15.31-$15.78/unit) FOB range.

The Stockton UAN-32 market was quoted at $565-$590/st ($17.66-$18.44/unit) FOB for new business, with the low reflecting the Sept. 8 posting from IRM. Other reference levels in early September included $595/st ($18.59/unit) FOB Port Hueneme and $600/st ($18.75/unit) FOB West Sacramento.

Pacific Northwest:

UAN-32 prices ranged from $500-$535/st ($15.63-$16.72/unit) FOB in the Pacific Northwest, depending on location and supplier, with the low confirmed at Kennewick, Wash. Delivered offers ranged widely at $525-$570/st ($16.41-$17.81/unit) in early September.

Effective Sept. 8, IRM’s UAN-32 postings firmed to $525/st ($16.41/unit) FOB Pasco, Wash., and Umatilla, Ore.; $535/st ($16.72/unit) FOB Central Ferry, Wash.; and $570/st ($17.81/unit) DEL in Eastern Oregon and Washington. Those levels were up $40-$45/st from the company’s Aug. 30 postings in the region.

Western Canada:

The UAN-28 market in Western Canada strengthened to C$700-$730/mt (C$25.00-$26.07/unit) DEL for September-December pricing, up from $595/mt (C$21.25/unit) DEL in mid-August.

Ammonium Nitrate

Ammonium Nitrate, Brazil, Market Watch, Western Cornbelt

Western Cornbelt:

The ammonium nitrate market remained at $640-$650/st FOB Missouri terminals in early September.

Brazil:

Ammonium nitrate imports for January-August 2022 were reported at 388,000 mt, down 55% from the 863,000 mt imported during the same period in 2021. Russia sent 352,000 mt during the first eight months of the year, and remains the main supplier to Brazil.

August 2022 imports were reported at 182,000 mt, just marginally down from the 188,000 mt imported in August 2021. Russia dominated the imports with 159,000 mt for 87% of the market. The US supplied 22,000 mt in August, accounting for 12% of the import market.

Ammonium Sulfate

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

US Gulf:

After a recent rally in prices, NOLA ammonium sulfate barges slipped a bit, falling to $400-$405/st FOB from the week-ago $405-$415/st FOB.

Eastern Cornbelt:

The granular ammonium sulfate market was steady at $460-$480/st FOB in the Eastern Cornbelt, depending on location. Most Cincinnati offers were pegged in the $465-$480/st FOB range at midweek.

Western Cornbelt:

Granular ammonium sulfate pricing remained at $450-$480/st FOB in the Western Cornbelt, with the low confirmed at St. Louis.

California:

The granular ammonium sulfate market in California remained at the $525/st FOB level in early September, with reports of limited rail-DEL tons also offered at that price on a spot basis.

Pacific Northwest:

Ammonium sulfate pricing remained at $400-$470/st FOB in the Pacific Northwest, with the low reflecting standard grade and the high granular. Delivered pricing was pegged at $400/st for standard and $445-$475/st for granular, depending on supplier and location.

Western Canada:

Ammonium sulfate prices in Western Canada jumped to a broad C$635-$735/mt DEL for fall tons, up the last reported C$570-$685/mt DEL range. “Supplies are tight and movement is steady,” commented one regional source.

China:

Stronger demand from Europe has caused some traders to focus their attention there. Sources reported the stepped-up demand for Chinese amsul is pushing pricing activity to the upper end of the current range, with greater possibilities of further increases in the near future.

Brazil:

Prices moved up as some buyers look to amsul as a substitute for urea. Sources put the price at $310-$330/mt CFR. International traders reported that some offers have been made as high as $380/mt CFR, but no deals were confirmed at that level.

Buyers also have a growing concern that new European interest in Chinese amsul could move up prices as Brazil and Europe compete for the same limited Chinese product.

Rondonopolis pricing is now reported at $420-$440/mt FOB ex-warehouse as blenders become more aggressive in their efforts to secure a substitute for the more expensive urea.

Imports for January-August 2022 were reported at 2.6 million mt by Trade Data Monitor, up 17% from the 2.2 million mt brought in during the same period in 2021. China dominated the market, sending 2.2 million mt during the first eight months of this year.

August 2022 imports were reported at 193,000 mt, down 35% from the 298,000 mt imported in August 2021. China sent 262,000 mt for 72% of the import market, the US sent 31,000 mt for 16%, and Belgium sent 23,000 mt for a 12% share.

DAP/MAP

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

Central Florida:

Central Florida DAP truck postings softened to $765/st FOB for the week, down $5/st from $770/st FOB in the prior report. MAP trucks also moved down from their prior $790/st FOB level, dropping to $785/st FOB.

MAP trucks loading from North Florida continued to see offers at $820/st FOB, sources said.

US Gulf:

NOLA barge phosphate values were seen lifting from the week-ago.

DAP barge pricing was reported moving up to a $760/st FOB floor, a $15/st increase from the prior $745/st FOB, while players continued to note the market topping out at $765/st FOB, unmoved from the weak-ago ceiling. DAP offers from domestic producers were reported at $765/st FOB.

MAP barges firmed to $780/st FOB at the low, up from last week’s $770/st, but held their week-ago top at $785/st FOB. Domestic producers were noted offering NOLA MAP at $785/st FOB on Sept. 6.

Domestic producers continued to describe tight supply for barges loading in the third quarter.

The nearby DAP barge price was reported in the $760-$765/st FOB range, above the prior week’s $745-$765/st FOB. MAP moved up as well, posting values in the $780-$785/st FOB range, up from $770-$785/st FOB at last report.

US Exports:

With no new trades or offers reported for the week, last-done Gulf exports continued to be noted at $910-$925/mt FOB.

Eastern Cornbelt:

Fueled by firming NOLA barge values, DAP pricing inched up to $805-$810/st FOB in the Eastern Cornbelt, with MAP pegged at $820-$830/st FOB in the region. Cincinnati pricing was pegged at $805-$810/st FOB for DAP and $825-$830/st FOB for MAP at midweek.

Western Cornbelt:

DAP was pegged at $800-$810/st FOB in the Western Cornbelt, with the low reported at St. Louis and reflecting a slight increase from the previous week. MAP pricing fell in the $820-$830/st FOB range, up from $810-$825/st FOB the week before, with the St. Louis market reported at $820-$825/st FOB.

California:

MAP remained at $900/st FOB or DEL in California, unchanged from last report, although some sources suggested there was “flexibility” in the market in early September.

Pacific Northwest:

The MAP market was steady at $870-$890/st FOB or DEL in the Pacific Northwest, depending on location.

Western Canada:

MAP was pegged in a wide range at C$1,220-$1,280/mt FOB in Western Canada, up from the previous C$1,210-$1,235/mt range, with reports of delivered tons in a much tighter range at C$1,225-$1,235/mt at mid-month.

China:

The DAP market remained quiet. Sources reported no new movement of material or new request for tons. Product moving out at this time is tied to earlier deals between producers and buyers in India.

India:

The recent deal with OCP for multiple cargoes appears to have allowed Indian buyers to take a break. Sources reported no new inquires for DAP.

Brazil:

Limited interest in MAP and the occasional top-off purchase pushed prices down to $740-$820/mt CFR. Sources reported that an oversupply of MAP is allowing buyers to sit back and wait until they need the product instead of making too many forward deals.

Even with an oversupply situation, sources said they expect to see Russia and Morocco step up their marketing to secure stronger portions of the MAP market. According to Trade Data Monitor, Russia already controls 44% of the import market this year. Morocco and Saudi Arabia each have another 26% of the market.

The Rondonopolis MAP price softened slightly to $870-$960/mt FOB ex-warehouse. Sources said the purchases appeared to be hand-to-mouth rather than any advance buying.

January-August 2022 imports were reported at 3.1 million mt by Trade Data Monitor, up slightly from the 3 million mt imported during the same period in 2021. Russian MAP imports in the first eight months of 2022 were reported at 1.4 million mt, a 40% increase from the same period in 2021. Saudi imports were also up 24%, to 489,000 mt. Moroccan imports dropped 31% to 825,000 mt during the first eight months of the year.

August 2022 imports were reported at 539,000 mt. up 25% from the 405,000 mt imported in August 2021.

TSP

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

US Gulf:

Tightening NOLA TSP barge supply saw prices lifting for the week. Most reported the market firming to $700-$710/st FOB from the week-ago $675-$710/st FOB.

Eastern Cornbelt: The TSP market firmed to $740-$750/st FOB Cincinnati during the week, up from $725-$745/st FOB at last report.

Western Cornbelt:

The TSP market remained at $725-$760/st FOB for the last confirmed offers in Missouri, with the low reported at St. Louis and the high at Caruthersville.

Iran:

Agricultural Support Services Co. (ASSC) closes a tender on Oct. 3 for the purchase of 250,000 mt of granular TSP, for shipment in 30,000 mt, 40,000 mt, or 50,000 mt lots at the seller’s option.