All posts by mickeybarb@charter.net

UAN

Eastern Canada, Eastern Cornbelt, Market Watch, Northeast, Northern Plains, U.S. Gulf, UAN, Western Cornbelt

U.S. Gulf:

NOLA UAN barges were reported in the $390-$400/st ($12.19-$12.50/unit) FOB range, down from the week-ago $400/st ($12.50/unit) FOB. Sources said the $390/st was available early in the week, though it may have only been offered for a short time.

Eastern Cornbelt:

UAN-32 fill pricing in the Eastern Cornbelt remained at $435-$443/st ($13.59-$13.84/unit) FOB regional terminals for the last offers, with UAN-28 fill reported at $389-$395/st ($13.89-$14.11/unit) FOB in Ohio. Sources said most fill program offers were pulled at midweek, however, with another round expected soon.

The last UAN-28 fill program offers in the Great Lakes region included $425/st ($15.18/unit) FOB Courtright, Ont., $455/st ($16.25/unit) FOB Burns Harbor, Ind., and $460-$465/st ($16.43-$16.61/unit) FOB Michigan terminals. These prices were reportedly pulled on Aug. 3 as well.

Western Cornbelt:

UAN-32 fill program offers remained at $420-$440/st ($13.13-$13.75/unit) FOB in the Western Cornbelt, with the low confirmed at Port Neal. St. Louis prices were holding at the $435/st ($13.59/unit) FOB level for July-August tons, although sources said CF pulled its program on Aug. 2.

Northern Plains:

The UAN-32 market was quoted at $460-$465/st ($14.38-$14.53/unit) FOB Minnesota terminals, while UAN-28 pricing in North Dakota slipped to $440/st ($15.71/unit) FOB, down from $475/st ($16.96/unit) in mid-July.

Northeast:

UAN-32 prices were down dramatically in the Northeast as fill program offers circulated in the region. The Baltimore, Md., market was quoted at $430-$432/st ($13.44-$13.50/unit) FOB for fill tons at midweek, down from the last confirmed prompt business at the $635/st ($19.84/unit) FOB mark in mid-July. The $430/st FOB fill level was also reported at Augusta, Ga.

New UAN-32 offers out of terminals in upstate New York were quoted at $550/st ($17.19/unit) FOB in early August, down $50/st from last report.

Eastern Canada:

The UAN-28 market also covered a wide range at C$695-$850/mt (C$24.82-$30.36/unit) FOB in the region, down C$65/mt at the low end of the range. UAN-32 pricing in the Ontario market slipped to C$795/mt (C$24.84/unit) FOB, some C$73/mt below the last reported C$868/mt (C$27.13/unit) FOB level in mid-July.

Correction:
The Southeast UAN price range in the July 29 Green Markets edition should have been $13.44-$15.00/unit FOB to reflect fill program offers reported in last week’s issue.

Ammonium Nitrate

Ammonium Nitrate, Brazil, Market Watch, Western Cornbelt

Western Cornbelt:

The ammonium nitrate market was steady at $600/st FOB terminals in Missouri for the last reported offers.

Brazil:

January-June 2022 imports of ammonium nitrate in Brazil were reported at 206,000 mt by Trade Data Monitor, down 70% from the 675,000 mt imported during the same period in 2021. July 2022 imports were reported at 37,000 mt, compared with 126,000 mt imported in July 2021.The drop was expected following the Russian restrictions on exports.

Ammonium Sulfate

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

U.S. Gulf:

NOLA ammonium sulfate barges were reported at $385-$400/st FOB, compared to the week-ago $390/st FOB.

Eastern Cornbelt:

Granular ammonium sulfate prices were pegged at $450-$470/st FOB in the Eastern Cornbelt. Great Lakes sources pegged the Toledo market at $475/st FOB for August-September tons.

Western Cornbelt:

Granular ammonium sulfate pricing remained at $450-$480/st FOB in the Western Cornbelt.

Northern Plains:

Ammonium sulfate fill pricing in the Northern Plains was quoted at $465-$495/st FOB, with the low in Minnesota and the high at Sioux City, Iowa. The latest delivered fill pricing slipped to $440-$445/st DEL in North Dakota, down from the previous $465/st DEL level.

Northeast:

An ammonium sulfate fill program announced by AdvanSix on Aug. 1 signaled a drop in Eastern U.S. prices.

Effective Aug. 15, postings at Hopewell, Va., will move to $450/st FOB for granular, $410/st FOB for mid-grade, and $390/st FOB for standard, down $220/st from the company’s last postings on April 1. New delivered pricing in the Northeast was pegged at $490-$515/st.

Eastern Canada:

Ammonium sulfate fill pricing was quoted at C$685-$790/mt FOB in Eastern Canada, well below the last confirmed prompt pricing at C$890-$1,075/mt FOB in July.

China:

Sources said the amsul market in China continues to weaken. Demand is off in Southeast Asia. Sources now put the price at $190-$200/mt FOB for caprolactam grade ammonium sulfate.

Brazil:

Ammonium sulfate prices in Brazil remain steady at $295-$315/mt CFR. Sources said the price is expected to experience a tightening and an upward bump in the range, in line with the rising urea prices into Brazil.Rondonopolis is reportedly up to $415-$430/mt FOB ex-warehouse.

January-June 2022 imports of ammonium sulfate were reported at 2.4 million mt by Trade Data Monitor, up 25% from the 1.9 million mt imported during the same period in 2021. July 2022 imports of 355,000 mt were up dramatically from the 203,000 mt imported during July 2021.

Thailand:

Imports of ammonium sulfate for the first half of 2022 were reported at 216,000 mt by Trade Data Monitor, down about 23% from the 279,000 mt imported during the same period in 2021. Second-quarter 2022 imports were reported at 117,000 mt, also down from the 220,000 mt imported during the same three months of 2021.

June imports were reported at 48,000 mt, down from 88,000 mt during June 2021. China accounted for 94% of the material with 45,000 mt.

Turkey:

Ammonium sulfate imports during the first half of the year were reported at 693,000 mt by Trade Data Monitor, up from the 520,000 mt imported during the same period in 2021. China dominated the sales with 559,000 mt, and Belgium followed with 100,000 mt.

Second-half imports were reported at 184,000 mt, down about 28% from the 255,000 mt imported during the same three months of 2021. June 2022 imports were reported at 41,000 mt, up from the 37,000 mt bought in during June 2021.

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:

Posted DAP and MAP pricing in Central Florida was unchanged at $840/st FOB for DAP and $850/st FOB for MAP. Offer levels rumored closer to $800/st FOB during the week went unconfirmed on Aug. 4.

MAP trucks loading from North Florida continued to be posted at $890/st FOB, steady from the prior report.

U.S. Gulf:

Sources reported declining values for the NOLA DAP and MAP barge markets during the week.

DAP barges loading from NOLA were heard slipping from the week-ago $760/st FOB low to $755/st FOB, while sources described the top of the range at $770/st FOB, down from the prior $780/st FOB. Domestically produced DAP tons were offered at $810/st FOB, with no sales reported at that price.

MAP barges took a bigger step down, with traders reporting a $785/st FOB floor during the week, below the last $807/st FOB bottom. Price levels were reported up to $810/st FOB, shy of the $825/st FOB high described one week earlier. Barges of domestically produced MAP were reportedly offered at $850/st FOB.

The nearby DAP barge market was quoted in the $755-$770/st FOB range for the period, down from $760-$780/st FOB one week earlier. Sources pegged MAP levels at $785-$810/st FOB, a decline from the week-ago $807-$825/st FOB range.

U.S. Exports:

With no new business reported, the U.S. Gulf phosphate export market was unchanged at $910-$925/mt FOB.

Eastern Cornbelt:

DAP remained at $810-$840/st FOB in the Eastern Cornbelt, with the low confirmed in Illinois and the high in Ohio. The Cincinnati DAP market was quoted at $820/st FOB, while Great Lakes sources pegged the Toledo DAP market at $850/st FOB for August-September.

MAP was quoted at $860-$880/st FOB in the Eastern Cornbelt, with the Cincinnati price reported at $865/st FOB in early August.

Western Cornbelt:

DAP was unchanged at $810-$845/st FOB in the Western Cornbelt, with the low confirmed at St. Louis. MAP pricing was steady at $845-$870/st FOB in the region, with the low at St. Louis and the high reported in Iowa.

Northern Plains:

DAP pricing reportedly slipped to $810-$825/st FOB St. Paul, with MAP reported at $845-$860/st FOB at that location. Delivered green MAP in western North Dakota was pegged at the $890/st level for recent fill offers, down $30/st from mid-July.

Northeast:

The phosphate market FOB East Liverpool, Ohio, remained at $845/st for DAP and $885/st for MAP, with prompt MAP tons pegged at the $900/st level FOB Fairless Hills.

Eastern Canada:

MAP pricing in Eastern Canada was unchanged at C$1,325-$1,335/mt FOB in early August. The DAP market at Montreal was down C$25/mt, however, to C$1,315/mt FOB.

China:

Sources said rumors continue to circulate that Beijing will ban all DAP and MAP sales in 2023. However, these same sources said they expect the real order to include a ban on January-April sales, to be followed by limited exports for the rest of the year.

India:

Reportedly, the Department of Fertilizers (DoF) is talking directly with OCP about DAP needs for the rest of this year and into 2023. Bids are said to be at $850-$900/mt CFR, with OCP pushing back with $940-$950/mt CFR. The last public business was reported at $950-$960/mt CFR.

Sources said $900/mt CFR is most likely where the market is sitting today. Without any trades to test that price, however, the estimated price for DAP into India remains in the $920s/mt CFR.One trader said if the DoF and OCP cannot come to an agreement, Indian farmers may be short of DAP supplies.

The Indian government recently released its January-May DAP import numbers. Trade Data Monitor reported imports for the first five months of the year at 2.1 million mt, up from the 792,000 mt imported during the same period in 2021. The top exporters of DAP to India were Morocco with 540,000 mt, Saudi Arabia with 526,000 mt, and China with 495,000 mt.

May 2022 imports were reported at 218,000 mt, down a third from the 326,000 mt received in May 2021. Saudi Arabia with 88,000 mt, Russia with 66,000 mt, and China with 63,000 mt supplied about 99% of the imported DAP in May.

Brazil:

Low demand and oversupply are pushing MAP prices down in Brazil. Sources reported landed prices currently at $930-$950/mt CFR.

Rondonopolis is pegged at $1,050-$1,070/mt FOB ex-warehouse. This level represents a slight shift in pricing from the previous week, but sources said the move is not indicative of a trend in MAP pricing.

Sources said MAP sellers are beginning to get nervous about large inventories of product and possibly a decline in demand. Reportedly orders for the Brazilian summer season are already full, leaving fewer potential deals to be made. The perceived limited demand and growing inventories have sellers concerned that price could eventually go sub-$900/mt CFR at the ports.

January-July 2022 imports of MAP were reported at 2.7 million mt by Trade Data Monitor, up 11% from the 2.5 million mt imported during the same period in 2021. Russia sent 1.2 million mt to Brazil so far this year, followed by Morocco with 821,000 mt.

July MAP imports were reported at 579,000 mt, a healthy increase over the 460,000 mt imported in July 2021. Russia with 209,000 mt and Morocco with 138,000 mt accounted for 60% of all imports. The U.S. sent 108,000 mt, or about 19% of the import market.

Phosphoric Acid

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

Eastern Cornbelt:

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

Western Cornbelt:

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

Northern Plains:

Phos acid pricing for August shipments remained at $14.00/unit rail-DEL in the Northern Plains, unchanged from July.

India:

India phosphoric acid contracts for the second and third quarters were valued at $1,715/mt P2O5 CFR for tons loading from Jordan and possibly Tunisia, up $185/mt from $1,530/mt P2O5 CFR in the first quarter. No updated contracts were reported from suppliers in Morocco or North America as of Aug. 4.

Ammonium Polyphosphate

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

Eastern Cornbelt:

10-34-0 fill pricing remained at $665/st FOB in the region for August shipment.

Western Cornbelt:

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

Northern Plains:

New 10-34-0 offers in the Northern Plains were confirmed at $665-$700/st FOB in early August, down from the last prompt spring business at $800-$810/st FOB, with the low reported in Minnesota and the upper end in North Dakota.

Northeast:

10-34-0 prices in New York were quoted at $725/st FOB for new offers, down from the last spring business at $825/st FOB.

Muriate of Potash

Brazil, Eastern Canada, Eastern Cornbelt, India, Market Watch, Northeast, Northern Plains, Potash Muriate, Thailand, U.S. Gulf, Western Cornbelt

U.S. Gulf:

NOLA potash barges continued to be pressured. New prices were quoted at $685-$705/st FOB, down from the week-ago $705/st FOB.

Eastern Cornbelt:

Potash fill for 3Q shipment was pegged at $740-$760/st FOB in the Eastern Cornbelt, with the low reported in Illinois and the high at Cincinnati. Producer postings in the $760-$765/st FOB range were set to expire on Aug. 3, with a $35/st increase scheduled for orders placed after that date. It was unclear, however, if the increase actually took effect.

Potash fill pricing in the Great Lakes region was pegged at $763-$770/st FOB Toledo for August-September shipment. One potash producer source on Aug. 4 reported a “good response” to the 3Q fill program, and said the company was “evaluating price levels for upcoming volume.”

Western Cornbelt:

While potash fill postings remained in the $760/st FOB range from producers, sources said some river terminal offers had reportedly dropped to as low as $720/st FOB St. Louis and $730/st FOB Catoosa, Okla., in early August.

Northern Plains:

Sources quoted potash fill pricing at $760-$765/st FOB and $770-$775/st rail-DEL in the Northern Plains. The latest prices FOB Saskatchewan mines were reported at $728-$740/st after netbacks, depending on grade and destination.

Northeast:

Potash fill pricing in the Northeast was pegged at $760/st FOB Fairless Hills, $765/st FOB East Liverpool, and $770/st FOB Baltimore, with rail-DEL tons quoted in the $780-$785/st range in the region. “From what I have heard, including ourselves, there’s not a lot of interest in potash at those values,” said one regional contact.

Eastern Canada:

The potash market in Eastern Canada remained at C$1,050-$1,056/mt FOB warehouses for fill pricing offers, unchanged from last confirmed prompt business in July. Sources said a price increase is scheduled for after the fill program order window closes.

Brazil:

The price of MOP in Brazil has come off to $920-$950/mt CFR as buyers look to take advantage of reports of large reserves. Suppliers are reportedly pushing back, but with little success. Sources are predicting sub-$900/mt CFR prices, but mostly for one-off trades or top-off tons.Rondonopolis showed a wider range at $1,035-$1,050/mt FOB ex-warehouse.

January-July 2022 imports of MOP were reported at 8.4 million mt by Trade Data Monitor, up dramatically from the 6.3 million mt imported during the same period in 2021. Canada shipped 3 million mt to Brazil so far this year. Russia was second with 2.3 million mt.

July imports were reported at 1.6 million mt, up 19% from the 1.3 million mt imported in July 2021.

India:

January-May 2022 MOP imports were reported by the Indian government at 1.3 million mt, according to Trade Data Monitor, up slightly from the 1.27 million mt imported during the same period in 2021. May 2022 imports were reported at 358,000 mt, more than double the 146,000 mt imported during May 2021.

Thailand:

Imports of MOP in Thailand for the first half of the year were reported at 492,000 mt by Trade Data Monitor, down about 4% from the 514,000 mt imported during the first semester of 2021. Second-quarter imports were reported at 322,000 mt, compared with 302,000 mt imported during the same three months in 2021.

June 2022 imports were pegged at 81,000 mt, up from the 74,000 mt brought in during June 2021.

Sulfur

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

Tampa:

Genscape reported increased activity levels from a 56,000 barrel/d distillate desulfurizer unit (DDU) at the BP Whiting, Ind., plant on the morning of July 29, followed by a successful unit restart on July 31. The DDU was reported shutting down on July 12.

The BP/Cenovus plant at Toledo, Ohio, saw restarts of several units on July 28, including a 120,000 barrel/d crude distillation unit (CDU), a 55,000 barrel/d fluidic catalytic cracking unit (FCC), and a 27,500 barrel/d coker. The units were reported going offline on April 20-21 as part of a planned 60-day turnaround.

Following a shutdown reported on July 20, Citgo restarted a sulfur plant at its Lemont, Ill., refinery on July 30. Additionally, a 28,000 barrel/d catalytic reformer was taken offline on July 26, while a 189,000 barrel/d crude section and an 18,000 barrel/d coker have been shut down since July 12, Genscape reported.

Third-quarter contracts for molten sulfur delivered to Tampa were settled at $352/lt CFR, down $129/lt from the second quarter’s $481/lt CFR agreement.

Refinery utilization moved down for the week ending July 29, the U.S. Energy Information Administration (EIA) reported. Refineries ran at a combined 91.0% capacity through the period, a 1.2-point decline from 92.2% reported one week earlier. The current rate trailed the year-ago 91.3% while topping the five-year average of 90.2%.

The EIA reported average daily crude inputs falling below 16 million barrels/d for the first time since the week ending May 13. Inputs for the week registered at an average 15.853 million barrels/d, down 174,000 barrels/d from the week-ago 16.027 million barrels/d.

U.S. Gulf:

Genscape noted restarts of the 73,000 barrel/d No. 2 CDU and a 30,000 barrel/d vacuum distillation unit (VDU) at the Calcasieu Lake Charles, La., refinery during the afternoon of July 28. The units were reported shutting on July 27.

Shutdowns of the 97,000 barrel/d Pipestill 8 CDU and a 44,000 barrel/d VDU were observed at the ExxonMobil Corp. facility in Baton Rouge, La., on the morning of Aug. 8. The outages were accompanied by significantly reduced activity at the plant, Genscape noted.

Gulf sulfur pricing continued to slide for the week. Offers reported around the $100/mt CFR range into Brazil indicated Gulf netback potential up to $60/mt FOB, below the $150/mt FOB level reported previously, while a cargo was rumored selling out of the Gulf during the week in the neighborhood of $40/mt FOB. Players understood the recent low to land around the $10/mt FOB mark, based on a previously rumored cargo selling into China.

Sources traced the declining values to a mix of overflowing seller inventories butting up against a lack of nearby demand. Those conditions were reportedly present in numerous markets worldwide.

Brazil:

With price levels continuing to show declines worldwide, spot values at Brazil were reported in the $90-$100/mt CFR range, falling from $130-$185/mt CFR for the prior week. Players noted bids returning closer to $50/mt CFR.

Due to the market’s continued volatility, Brazil players were reportedly abstaining from entering into purchase contracts for delivery in the third quarter.

Vancouver:

Sources noted solid sulfur pricing out of Vancouver softening to the $55-$60/mt FOB range for the week, a decline from $90-$100/mt FOB at last report.

Alberta:

Alberta combined solid and molten sulfur netbacks were indicated in a wide (-)$15-$282/mt FOB range for the trading period, falling from the week-ago $20-$282/mt FOB. Molten tons contracted into the U.S. market set the top of the range, while solid material selling internationally through the Vancouver export market established the low.

West Coast:

West Coast prill levels were indicated at $55-$60/mt FOB, down from the prior week’s $90-$100/mt FOB. Third-quarter molten contracts were reported at $370-$385/lt FOB, $5/lt below the $375-$390/lt FOB range published for the second quarter.

China:

Import sulfur values at China were noted at $90-$100/mt CFR, falling from $115-$120/mt CFR one week earlier. A projected 4.5-5 million mt year-over-year reduction in phosphates exported from China in 2022 could translate to an additional 1.2-1.8 million mt of sulfur supply available internationally in second-half 2022, sources said.

ADNOC:

Abu Dhabi National Oil Co. posted sulfur prices for August were heard at $85/mt FOB Ruwais, an 80% decline from $428/mt FOB posted for July.

Qatar:

Sources described August price postings from Qatar Petroleum marketing arm Muntajat at $77/mt FOB Ras Laffan. The July posted price was referenced at $428/mt FOB, an 82% decline.

Sulfuric Acid

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

U.S. Gulf:

With nothing new reported, the U.S. Gulf spot vessel price continued in the $260-$270/mt CFR range, unmoved from one week earlier.

Gulf Coast:

Sulfuric acid tons delivered by rail to locations on the U.S. Gulf Coast were noted at $195-$280/st DEL for 2022 contracts.

Midwest:

Midwest 2022 sulacid contract values were reported on par with the Gulf Coast at $195-$280/st DEL.

West Coast:

Material delivered to the West Coast was pegged in the $185-$270/st DEL range for current-year agreements.

Brazil:

Players reported no new business into Brazil for the week, leaving price ideas steady at $270-$280/mt CFR.