All posts by mickeybarb@charter.net

Ammonium Sulfate

Ammonium Sulfate, Brazil, China, Eastern Cornbelt, Market Watch, South Central, Southeast, Southern Plains, U.S. Exports, U.S. Gulf, U.S. Imports, Western Cornbelt

U.S. Gulf:

NOLA ammonium sulfate barges continued to be called $385-$400/st FOB.

U.S. Imports:

July-June ammonium sulfate imports were reported at 898,829 st, down 7.6% from the year-ago 972,350 st. June imports were off 12.9%, falling to 23,647 st from 27,147 st in June 2021.

Imports from Canada stood at 458,948 st for July-June, ahead of both Belgium’s 251,890 st and South Korea’s 80,579 st.

U.S. Exports:

Ammonium sulfate exports were up 50.8% in June, to 68,559 st from the June 2021 total of 45,478 st. July-June exports firmed 2.2%, to 630,859 st from last year’s 617,499 st.

Eastern Cornbelt:

The granular ammonium sulfate market was pegged at $450-$480/st FOB in the Eastern Cornbelt, with the low confirmed at Ottawa and the high at Cincinnati.

Western Cornbelt:

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

Southern Plains:

Ammonium sulfate pricing slipped to $450-$460/st FOB in the Southern Plains, depending on supplier, with the low confirmed at both Catoosa/Inola and Houston for new offers.

South Central:

Ammonium sulfate pricing was quoted in a tight range at $455-$460/st FOB in the South Central region.

Southeast:

Following last week’s announcement from AdvanSix that its Hopewell, Va., postings for ammonium sulfate will drop in mid-August to $450/st FOB for granular, $410/st FOB for mid-grade, and $390/st FOB for standard, new pricing in the Florida market was confirmed at $395/st FOB/DEL for standard and $490/st FOB/DEL for granular, down significantly from spring pricing that reached $635/st for standard and $735/st for granular.

China:

Sources said the ammonium sulfate market remains soft, with most deals settling in at the lower end of the $190-$200/mt FOB range. Reportedly, demand in Southeast Asia is softening as buyers feel the pinch from inflation and higher interest rates.

Brazil:

Limited demand and a steady flow of product has softened the ammonium sulfate price in Brazil to $280-$300/mt CFR. Sources said they expect to see a continued decline in the landed price.Rondonopolis also showed a drop to $405-$415/mt FOB ex-warehouse.

Imports of ammonium sulfate for January-July 2022 were reported at 2.4 million mt by Trade Data Monitor. This is up about 25% from the 1.9 million mt imported during the same period in 2021. China was the main supplier, sending 2.1 million mt. In a distant second place was Belgium with 105,000 mt.

July 2022 imports were reported at 355,000 mt, up 75% from the 203,000 mt imported during July 2021. Chinese suppliers accounted for 309,000 mt or 87% of the import market.

DAP/MAP

Brazil, Central Florida, China, DAP/MAP, Eastern Cornbelt, India, Market Watch, South Central, Southeast, Southern Plains, U.S. Exports, U.S. Gulf, U.S. Imports, Western Cornbelt

Central Florida:

DAP trucks loading from Central Florida were posted at $800/st FOB for the week, falling from $840/st FOB at last report. MAP truck offers softened to $830/st FOB from the week-ago $850/st FOB. North Florida MAP trucks were quoted at $890/st FOB, steady from the prior report.

U.S. Gulf:

Prompt NOLA DAP and MAP barge prices moved lower amid a week of slow trading, sources said.

DAP was traded at a $737/st FOB low on Aug. 11, sources said, falling from the prior $755/st FOB floor, while most called the top of the range $755/st FOB, below the week-ago $770/st FOB. Offers for domestically produced DAP softened to $770/st FOB from $810/st FOB at last report.

Prompt MAP barges also fell, with trading reported at a $760/st FOB floor, off from the week-ago $785/st FOB. Pricing topped out at $775/st FOB, sources said, falling from the prior $810/st FOB high. Domestic tons were offered at $800/st FOB, below the prior week’s $850/st FOB.

The nearby NOLA DAP barge market was quoted in a wide $737-$755/st FOB range, softening from $755-$770/st FOB one week earlier. Sources pegged MAP barges in the $760-$775/st FOB range, below the week-ago $785-$810/st FOB.

U.S. Imports:

July-June DAP imports were down 19.8% year-over-year, to 1.05 million st from 1.30 million st. June imports stood at 57,984 st, off 36.8% from the year-ago 91,727 st.

Saudi Arabia topped the July-June import list with 432,285 st, followed by 251,973 st from Australia and 121,293 st from Egypt. No Australian or Egyptian cargoes were noted arriving in the US during the month of June.

June MAP/Other imports softened 19.8%, to 49,931 st from 62,251 st in the prior year. Imports moved 21.1% lower for July-June, to 821,800 st from the year-ago 1.04 million st.

Imports from Saudi Arabia climbed to 270,164 st in July-June. Russia added 121,493 st., while material originating from Jordan was noted at 94,461 st.

U.S. Exports:

June-July DAP exports moved 7.5% lower, to 682,259 st from the year-ago 737,286 st. Exports totaled 33,614 st for June, an 8.3% decrease from 36,661 st recorded in June 2021.

MAP/Other exports were up 5.1% in July-June, to 2.43 million st from the year-ago 2.31 million st. Exports were noted at 280,660 st for June, up 182.0% from the year-ago 99,517 st.

Nothing new was heard on the week’s Gulf export market, leaving pricing at the last $910-$925/mt FOB level. Based on recent softening in the Latin American markets, some expected the next round of Gulf business to break below the $900/mt FOB mark.

Eastern Cornbelt:

DAP pricing slipped to $810-$820/st FOB in the Eastern Cornbelt, with MAP pegged in the $850-$860/st FOB range, down from the prior week’s $860-$880/st FOB. The Cincinnati market covered both the high and low ends of both ranges in early August.

Western Cornbelt:

DAP slipped to $800-$830/st FOB in the Western Cornbelt, down another $10-$15/st, with the low confirmed at St. Louis and the high in Iowa. MAP pricing was quoted at $840-$860/st FOB in the region, with the low again reported at St. Louis.

Southern Plains:

DAP pricing was pegged at $810-$830/st FOB in the Southern Plains, with the low at Catoosa/Inola and the high confirmed at Houston. MAP pricing was quoted at $855/st FOB Catoosa/Inola and $865/st FOB Houston for the latest offers.

South Central:

DAP prices fell to $810-$830/st FOB in the South Central region, down from $850-$875/st FOB in mid-July, with the low confirmed in Kentucky and the high in Arkansas. Sources pegged the Memphis DAP market at $820-$825/st FOB at midweek.

Southeast:

The last postings at Aurora, N.C., included $840/st FOB for DAP and $890/st FOB for MAP.

China:

Sources noted some DAP deals in India that allowed them to calculate a China-equivalent netback. The estimated price in India is now put at $860-$865/mt FOB.The Indian deals involved Russia, Saudi Arabia, and Morocco at $890/mt CFR, but any Chinese producer looking to sell to India would have to match that landed price.

Sources said Chinese DAP continues to flow to India from direct negotiations between producers and buyers. Traders are more and more being eased out of any phosphate deals between China and India, said one trader.

India:

Sources reported a large sale of DAP from Russia to India at $890/mt CFR. Reportedly, Ma’aden and OCP soon matched that price with additional shipments.

Reportedly, the Russian deal was done rapidly in the hope that appropriate financing could be found just as quickly. Even though the US and Europe do not include purchases of fertilizers from Russia on the list of sanctioned goods, many banks are nervous that they could be caught in the middle of a policy shift that would leave them exposed.

Brazil:

The price range of MAP widened as some buyers got bargains and some sellers hooked higher prices. Sources put the landed price at $900-$950/mt CFR.

Sources said the shift in pricing is more toward softening values than an increase, however. Reportedly, some holders of Chinese MAP have been offering tons at a steep discount. If the tons are successfully sold, sources said Moroccan and Russian sellers will most likely follow suit.

Rondonopolis came down to $1,015-$1,040/mt FOB ex-warehouse on reduced demand. Reportedly, buyers continue to take only what they immediately need. No one seems willing to take a long position on MAP.

Imports during January-July 2022 were reported at 2.7 million mt by Trade Data Monitor. This is up slightly from the 2.5 million mt imported during the same period in 2021.The main suppliers of MAP were Russia with 1.2 million mt, Morocco with 721,000 mt, Saudi Arabia with 399,000 mt, and the US with 261,000 mt.

July 2022 imports were reported at 579,000 mt, up 26% from the 460,000 mt imported in July 2021. Four suppliers accounted for 99% of the July MAP imports.

July 2022 MAP Imports
Supplier Quantity (mt) % of Import Market
Russia 209,000 36
Morocco 138,000 24
Saudi Arabia 118,000 20
United States 108,000 19 
 

TSP

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

U.S. Gulf:

Sources quoted NOLA TSP barges in the $695-$705/st FOB range through the week, falling from $705-$715/st FOB in the prior report.

Eastern Cornbelt:

The TSP market was quoted at $725-$755/st FOB Cincinnati, down $25/st from last report at the low end of the range.

Western Cornbelt:

The TSP market was reported at $770-$775/st FOB in Missouri.

South Central:

The TSP market was pegged at $770-$775/st FOB in the South Central region.

Phosphoric Acid

Eastern Cornbelt, India, Market Watch, Phosphoric Acid, Southern Plains, U.S. Exports, Western Cornbelt

U.S. Exports:

Wet-process phosphoric acid exports rose 45.4% in July-June, to 247,562 st from the year-ago 170,267 st. Exports totaled 8,193 st for June, up 55.5% from the 5,270 st reported in June 2021.

Eastern Cornbelt:

Phos acid postings in the Eastern Cornbelt remained at $14.00/unit rail-DEL for August tons, unchanged from July.

Western Cornbelt:

Phos acid prices were steady at $14.00/unit rail-DEL in the Western Cornbelt for August tons, unchanged from July.

Southern Plains:

August pricing for phos acid remained at $14.00/unit rail-DEL level in the Southern Plains, unchanged from July.

India:

Phosphoric acid contracts governing sales to India were reported at $1,715/mt P2O5 CFR for the second and third quarters, up $185/mt from $1,530/mt P2O5 CFR in the prior period.

Ammonium Polyphosphate

Ammonium Polyphosphate, Eastern Cornbelt, Market Watch, Southern Plains, Western Cornbelt

Eastern Cornbelt:

10-34-0 fill pricing was pegged at $665-$675/st FOB in the Eastern Cornbelt, with the high confirmed for fill offers at inland Ohio locations.

Western Cornbelt:

10-34-0 prices were steady at $665/st FOB in the Western Cornbelt for fill tons.

Southern Plains:

The 10-34-0 market remained at $665-$670/st FOB in the Southern Plains. The last confirmed 11-37-0 pricing in Texas was reported at the $730/st level FOB Houston.

Muriate of Potash

Brazil, Eastern Cornbelt, Market Watch, Potash Muriate, South Central, Southeast, Southern Plains, U.S. Exports, U.S. Gulf, U.S. Imports, Western Cornbelt

U.S. Gulf:

New NOLA potash barge business was pegged in the $675-$695/st FOB range, down from the week-ago $685-$705/st FOB.

U.S. Imports:

MOP imports were down 9.7% in June, to 1.02 million st from 1.13 million st in June 2021. July-June imports were off 5.5%, at 13.49 million st compared to 14.27 million st for the prior year.

Canadian imports for the full fertilizer year stood at 11.74 million st. Tons sent from Russia were reported at 737,615 st, off 50.1% from the year-ago 1.48 million st. Despite sending zero new cargoes to the US since February, material originating from Belarus totaled 565,355 st, down 20.8% from the prior year’s 713,953 st.

U.S. Exports:

Potash exports for July-June firmed 45.6%, to 4.04 million st from 2.77 million st in the previous year. Totals were posted at 367,502 st for June, up 32.0% from 278,495 st in June 2021.

Eastern Cornbelt:

Potash pricing remained at $740-$760/st FOB in the Eastern Cornbelt, with both the high and low reported at Cincinnati. The Ottawa market was pegged at the $745/st FOB level at midweek.

Western Cornbelt:

Potash continued to be quoted at $720-$760/st FOB in the Western Cornbelt, with the upper end confirmed in the Iowa market. St. Louis potash prices was pegged at $720-$740/st FOB at midweek.

Southern Plains:

Potash pricing dropped to $730-$740/st FOB in the Southern Plains. The last official potash postings from Intrepid FOB Carlsbad, N.M., remained at $855/st for 60% white granular and $875/st FOB for 62% white standard.

South Central:

The potash market was reported at $745-$750/st FOB terminals in the South Central region.

Southeast:

The latest potash offers in the Southeast were confirmed at $760/st FOB Wilmington, with rail-DEL pricing in the $780-$790/st range.

Brazil:

An oversupply of MOP, with few buyers stepping up, has moved the landed price to $900-$930/mt CFR. Sources said the situation is expected to continue into September.There are reports that some cheaper product from Chile was being shopped around at $870/mt CFR, but no sales could be confirmed.

Rondonopolis prices softened to $1,010-$1,040/mt FOB ex-warehouse. Sources said buyers at the lower end of the range were looking for immediate delivery for the upcoming summer soybean crop. The buyers at the upper end were looking for later deliveries for their corn fields.

January-July imports of MOP were reported at 8.4 million mt by Trade Data Monitor. This is up about a third from the 6.3 million mt imported during the same period of 2021. Canada with 3 million mt and Russia with 2.3 million mt were the top two suppliers, and increased their sales to Brazil during the first seven months of the year. Third-place seller Belarus sent 976,000 mt to Brazil in 2022, down 32% from the 1.4 million mt sent during the same period in 2021.

July 2022 imports were reported at 1.9 million mt, up 19% from the 1.3 million mt imported during July 2021. Four countries – Canada, Russia, Israel, and Germany – accounted for 95% of the imports in July.

Supplier Quantity (mt) 2022 % of Imports Quantity (mt) 2021 % Change 2021/2022
Canada 702,000 45 452,000 55
Russia 399,000 26 352,000 13
Israel 197,000 13 75,000 163
Germany 168,000 11 112,000 50

Sulfur

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

Tampa:

BP on Aug. 8 announced the sale of its 50% stake in the BP-Husky Refinery in Toledo, Ohio, to JV partner Cenovus for $300 million, plus inventory costs. The deal is projected to conclude later in 2022. The refinery has a nameplate capacity of 160,000 barrels/d.

Molten sulfur contracts for tons delivered to Tampa were concluded at $352/lt CFR for the third quarter. Contracts were reported at $481/lt CFR in the second quarter, a $129/mt difference.

US refinery utilization moved up for the week ending Aug. 5, the Energy Information Administration (EIA) reported, lifting to 94.3%, a 3.3% rise from the week-ago 91.0%. The rate pushed ahead of both the year-ago 91.8% and the 92.0% five-year average.

Crude inputs also moved higher, recording an average 16.581 million barrels/d for the week, a 728,000 barrel/d increase from the previous week’s15.853 million barrels/d rate.

U.S. Imports:

July-June sulfur imports softened 11.4% year-over-year, to 3.17 million st from 3.57 million st. June imports fell 12.6%, to 235,873 st from the year-ago 269,817 st.

U.S. Exports:

Sulfur exported from the US in June was up 174.0%, to 145,806 st from the prior year’s 53,207 st. Exports totaled 1.59 million st for July-June, rising 51.6% from the previous year’s 1.05 million st.

U.S. Gulf:

Genscape reported significant unit outages from the country’s second and third largest refineries during the week.

The 145,000 barrel/d FCC-3 fluidic catalytic cracking unit was reported shutting at the Marathon Galveston Bay, Texas, refinery on Aug. 7, triggering a flaring event. At 593,000 barrels/d, the refinery is the nation’s second largest.

Marathon’s refinery at Garyville, La., the third-largest refinery in the country at 585,000 barrels/d, suffered an abrupt shutdown of the 325,000 barrel/d CDU 210 crude distillation unit and an associated 148,500 barrel/d vacuum distillation unit (VDU) early on Aug. 9. The CDU was reported restarting later in the day on Aug. 9, while the VDU was restarted on Aug. 10.

A 96,000 barrel/d FCC was noted shutting down on Aug. 8 at the Valero Corpus Christi (West), Texas, refinery. The event was accompanied by significant decrease in activity, according to Genscape. The unit was successfully restarted on Aug. 10.

Sources reported a 15,000 mt sulfur sale out of the Gulf during the week. The material was priced at $50/mt FOB, with loading scheduled for September.

Based on recent reported trades, the Gulf sulfur market was seen in a wide $10-$50/mt FOB range, softening from $10-$60/mt FOB reported previously.

Brazil:

Sources described little change in the Brazil import sulfur market. Recent offers continued to be heard at $90-$100/mt FOB, with bidding quoted closer to $50/mt FOB. With the market’s major players described as flush with inventory, there was little motivation for buyers to increase bids anytime soon.

Vancouver:

A price bump at China saw the Vancouver market strengthening to the $60-$65/mt FOB range, sources said. Values were previously reported at $55-$60/mt FOB.

Alberta:

Due to rising values at Vancouver, Alberta sulfur netbacks edged into the (-)$10-$282/mt FOB range, lifting from (-)$15-$282/mt FOB one week earlier.

West Coast:

Price ideas for solid tons loading from the West Coast followed Vancouver to $60-$65/mt FOB, up from $55-$60/mt FOB at last report. Molten contracts were noted at $370-$385/lt FOB for the third quarter, down from $375-$390/lt FOB in the prior period.

China:

Sources reported sulfur import values at China bouncing slightly to the $95-$105/mt CFR range, up from $90-$100/mt CFR at last report. Bids were noted tracking around $95/mt CFR, while retail pricing was heard lifting to a $110/mt CFR-equivalent.

The market has remained in a state of uncertainty following its recent and rapid price drops, players said. “I think all are still in shock over the dramatic decrease in price in such a short period of time,” said one source. “The price decrease has caused some demand to freeze its buying, as (buyers) work out from underneath higher-priced inventory.”

ADNOC:

Abu Dhabi National Oil Co. offers for August were heard at $85/mt FOB Ruwais, down 80% from July’s $428/mt FOB posting.

Qatar:

August Muntajat prill offers were posted at $77/mt FOB Ras Laffan, sources indicated, falling 82% from $428/mt FOB offered in July.

Sulfuric Acid

Brazil, Gulf Coast, Market Watch, Midwest, Sulfuric Acid, U.S. Exports, U.S. Gulf, U.S. Imports, West Coast

U.S. Gulf:

Sources indicated softness in the Gulf import sulfuric acid market. While last-done continued to be heard in the $260-$270/mt CFR range, players expected values to drop in the next round of business, possibly to $240/mt CFR or lower, due in part to recent declines in the international sulfur markets.

U.S. Imports:

Sulfuric acid import totals firmed 18.4% in June, to 280,239 st from the year-ago 236,592 st. July-June totals stood at 3.60 million st, however, off 8.5% from the year-ago 3.93 million st.

U.S. Exports:

Sulfuric acid exports moved 56.6% higher in June, to 18,538 st from the prior year’s 11,838 st. July-June exports softened 7.6%, however, to 325,456 st from the previous 352,180 st.

Gulf Coast:

Sulfuric acid delivered by rail to US Gulf Coast locations was noted in the $195-$280/st DEL range for 2022 agreements.

Midwest:

The Midwest 2022 contract sulacid market ran even with the Gulf Coast at $195-$280/st DEL.

West Coast:

West Coast pricing was reported at $185-$270/st DEL for current-year agreements.

Brazil:

Nothing new was heard on the Brazil import sulfuric acid market, leaving prices at the last reported $270-$280/mt CFR level.

Ammonium Thiosulfate

Amthio, Eastern Cornbelt, Market Watch, South Central, Southern Plains, Specialty, Western Cornbelt

Eastern Cornbelt:

Sources described ammonium thiosulfate pricing as a “weird market” in early August, with a wide range of business reported, from a low of $400-$425/st FOB Cincinnati for prompt fill to a high of $600/st FOB in Indiana on a spot basis.

Western Cornbelt:

Ammonium thiosulfate fill tons continued to be reported at $425-$435/st FOB in the Western Cornbelt, although sources also reported new sales taking place at the $600/st FOB level in the Iowa market.

Southern Plains:

Ammonium thiosulfate prices in Texas remained at $350/st FOB Houston and $400/st FOB Lubbock in mid-August.

South Central:

New ammonium thiosulfate pricing was confirmed at $470-$475/st FOB Memphis, down $80/st from last report.