All posts by mickeybarb@charter.net

Phosphoric Acid

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

U.S. Exports:

Wet-process phosphoric acid exports moved 47.0% higher in July-April, firming to 229,994 st from the year-ago 156,435 st. Offshore shipments totaled 42,835 st for April, a 1,130.5% increase from 3,481 st recorded in the prior April.

Eastern Cornbelt:

June phos acid postings in the Eastern Cornbelt remained at $14.00/unit rail-DEL, down from $17.50/unit rail-DEL in May.

Western Cornbelt:

Phos acid prices were steady at $14.00/unit rail-DEL in the Western Cornbelt for June tons, down from $17.50/unit in May.

California:

June pricing for phos acid remained at $17.50/unit rail-DEL in California, with MGA referenced at $17.70/unit FOB Lathrop. A reset is expected in July. Itafos on June 1 reposted phos acid at $1,625/ton of P2O5 for rail-DEL product in California and Arizona.

Pacific Northwest:

Thephos acid market for June was unchanged at $17.00/unit FOB Pocatello, Idaho, and $17.50/unit rail-DEL in the Pacific Northwest. A reset is expected in July. Itafos on June 1 reposted phos acid at $1,625/ton of P2O5 for rail-DEL product in Oregon, Washington, Idaho, and Montana.

India:

With no updated deals in hand, India phosphoric acid contracts remained at their first-quarter $1,530/mt P2O5 CFR level, sources said. Contracts were valued at $1,330/mt P2O5 CFR in Q4 2021, a $200/mt difference.

Ammonium Polyphosphate

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

Eastern Cornbelt:

Sources reported no 10-34-0 prompt or fill pricing in the region at mid-month. The last prompt business was pegged at $850-$860/st FOB.

Western Cornbelt:

10-34-0 prices remained at $840-$860/st FOB in the Western Cornbelt for the last prompt spring offers.

California:

The 10-34-0 market was unchanged at $855-$860/st FOB in California. 11-37-0 pricing remained at $936/st FOB El Centro.

Pacific Northwest:

10-34-0 pricing in the Pacific Northwest was reported at $846/st FOB Hedges, Wash. The 11-37-0 market remained at $917/st FOB Hedges and $892/st DEL in Idaho.

Western Canada:

The 10-34-0 market remained at C$1,150-$1,185/mt DEL for the last confirmed spring pricing in Western Canada.

Muriate of Potash

Bangladesh, Brazil, California, Eastern Cornbelt, Market Watch, Pacific N.W., Potash Muriate, South Korea, U.S. Exports, U.S. Gulf, U.S. Imports, Western Canada, Western Cornbelt

U.S. Gulf:

Early-week NOLA potash business was reported as high as $770/st FOB, with late-week transactions called $740-$750/st FOB. The week-ago range was $750-$770/st FOB.

U.S. Imports:

Imported MOP fell 23.2% for April, to 1.24 million st from the year-ago 1.61 million st. July-April totals stood at 11.37 million st, off 4.6% from the year-ago 11.91 million st.

Canadian imports for the July-April period stood at 9.70 million st. Russia sent 677,028 st to the U.S., a 48.1% year-over-year decline from 1.30 million st. Tons originating from Belarus were counted at 565,355 st, off 20.8% from 713,953 st last year.

U.S. Exports:

MOP exports firmed 46.8% in July-April, to 3.27 million st from the year-ago 2.23 st. Cargoes were noted at 405,024 st for April, up 154.9% from the year-ago 158,891 st.

Eastern Cornbelt:

Potash pricing remained at $770-$790/st FOB in the Eastern Cornbelt, depending on location, with the Cincinnati market pegged at $785/st FOB during the week.

Western Cornbelt:

Potash pricing was unchanged at $770-$790/st FOB in the Western Cornbelt, depending in location, with the low at St. Louis.

California:

Potash reference pricing remained at $875-$895/st FOB in California for 2Q tons, with the low reported for 60% MOP and the high for 62%.

Pacific Northwest:

Potash pricing remained in a broad range at $840-$880/st FOB and $855-$900/st DEL in the Pacific Northwest, depending on grade and location. The last reference prices from Intrepid FOB Moab and Wendover, Utah, included $850/st for 60% white standard and $855/st for 60% white granular.

Western Canada:

Sources quoted truck pricing for potash in a wide C$990-$1,080/mt range FOB Saskatchewan mines, depending on grade and supplier.

Bangladesh:

Offers into the Ministry of Agriculture tender for standard potash that closed on June 9 (GM June 9, p. 13) were reported to be in the range of $1,100-$1,150/mt CFR. These offers compare with the $1,045-$1,250/mt CFR tender awards by the ministry in early May (GM May 13, p. 18).

South Korea:

January-May 2022 imports were reported at 297,000 mt, marginally down from the 302,000 mt imported during the same period in 2021. Trade Data Monitor reported that Canada was the dominant supplier so far this year with 202,000 mt.

May 2022 imports were reported at 74,000 mt – almost all from Canada – against 46,000 mt during May 2021.

Brazil:

The price for MOP remains stable even as demand appears to be waning. Sources reported the landed price at $1,030-$1,150/mt CFR. Even with the price range narrowing, sources said buyers are still expressing concern that replacement tons for the second half of the year may not be as readily available due to sanctions against Russia and Belarus.

May 2022 imports were reported at 1.5 million mt, up 81% from the 822,000 mt imported in May 2021. The main suppliers of product in May 2022 were Russia with 509,000 mt and Canada with 478,000 mt.

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:

Citing a newly bearish tone in the offshore markets, steady onshore sulfur supply, and softening prices observed in a number of international markets, players generally expected a mild decline in the third-quarter contract price of molten sulfur delivered to Tampa.

Some voiced speculation of a $20/lt downward move from the second-quarter $481/lt CFR contract. Most agreed that the prospect of a rollover from the prior quarter, discussed as recently as one week ago, was likely off the table.

U.S. refinery utilization ticked lower for the week ending June 10, according to the Energy Information Administration (EIA). Refineries operated at 93.7% of capacity for the period, a 0.5 point decrease from 94.2% in the prior report. The current-week values remained ahead of both the year-ago 92.6% and the 89.8% five-year average.

Crude inputs fell slightly to an average 16.320 million barrels/d through the period, a 67,000 barrel/d decrease from the prior 16.387 million barrel/d average.

U.S. Imports:

Sulfur imports for July-April were off 11.0% from the year-ago, to 2.69 million st from 3.02 million st. April imports moved 41.5% lower, to 195,922 st from the prior 334,887 st.

U.S. Exports:

Sulfur exports rose 47.3% in July-April, to 1.30 million st from the year-ago 880,435 st. Shipments were counted at 187,885 st for April, lifting 181.0% from the year-ago 66,860 st.

U.S. Gulf:

Valero shut a 96,000 barrel/d fluidic catalytic cracking unit (FCC) at the company’s Corpus Christi (West), Texas, refinery on June 11, Genscape reported. A decrease in overall refining activity was observed at the time of the shutdown.

Several units were reported going offline at the Calcasieu Lake Charles, La., refining facility on June 11. The outages were accompanied by “significantly” reduced activity levels. Multiple units were previously observed offline between May 25 and June 8. The plant’s 34,000 barrel/d No. 5 crude distillation unit (CDU) was noted restarting on June 14, followed by restarts of the 73,000 barrel/d No. 2 CDU and an associated 30,000 barrel/d vacuum distillation unit (VDU) on June 15.

ExxonMobil Corp. was noted shutting down the 225,000 barrel/d Pipestill 10 crude section at its Baton Rouge, La., refinery on June 13. Pipestill 10 was previously observed offline on June 7-9.

Recent business out of the U.S. Gulf was observed pressuring values to the $470-$475/mt FOB range, below $470-$480/mt FOB in the prior report.

Brazil:

The Brazil import market was seen softening to a $515-$520/mt CFR range for the week, off $5/mt from the prior week’s $520-$525/mt CFR. While a rumored late-week trade below the $500/mt CFR mark went unconfirmed on June 16, many expected the Brazil market to track in the high-$400s/mt CFR in the next round of business.

Prilled sulfur contracts for second-quarter delivery were pegged at $480-$485/mt CFR.

Vancouver:

Softening at China was heard to weigh on Vancouver exports, with players noting recent values in the $470-$475/mt FOB range. The market was previously reported at $475-$480/mt FOB.

Alberta:

Alberta netbacks were quoted at $366-$411/mt FOB, unmoved from the prior report.

West Coast:

Solid sulfur loading from the West Coast was indicated in the $470-$475/mt FOB range, falling from the week-ago $475-$480/mt FOB. Molten sulfur contracts for the third quarter were reported at $375-$390/lt FOB, an increase from $230-$245/lt FOB in the prior period.

China:

Import cargoes sold into China were softer at $520/mt CFR, falling from $520-$525/mt CFR reported previously. A reported move below the $500/mt CFR-equivalent mark in the country’s domestic electronic and retail sulfur markets indicated likely further declines in the next round of business, sources said.

Buyers were heard rejecting new import offers in the $505-$510/mt CFR range during the week, while approximately 30,000 mt of material was rumored in talks at a $480/mt CFR price point.

ADNOC:

Abu Dhabi National Oil Co. offers for June were heard at $480/mt FOB Ruwais. A number of large buyers were heard to reject pricing at this level, indicating possible softening in the market’s July offer.

Qatar:

Qatar solid sulfur tons were priced at $490/mt FOB Ras Laffan for June loading, up $30/mt from May’s $460/mt FOB offer. A sealed tender from Qatar Petroleum marketing arm Muntajat was rumored to return bids in the $420-$440/mt FOB range, although that price level remained unconfirmed on June 16.

Sulfuric Acid

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

U.S. Gulf:

Price ideas on sulfuric acid imported to the U.S. Gulf were flat at $270-$280/mt CFR. Players noted improving supply and hints of weakening sentiment, but reported no signs of a price slowdown as the week ended.

U.S. Imports:

Sulfuric acid imports for April increased 11.3%, to 396,788 st from the prior-year 356,630 st. Imports totaled 3.06 million st in the July-April period, however, falling 9.4% year-over-year from 3.38 million st.

U.S. Exports:

Exports for July-April softened 10.2%, to 274,707 st from 306,021 st. Totals were noted at 40,144 st for April, however, up 45.7% from 27,550 st posted in the prior year.

Gulf Coast:

Annual 2022 Gulf Coast contracts were heard at $195-$280/st DEL, unchanged from the prior report.

Midwest:

Material delivered to Midwest locations was quoted even with the Gulf Coast at $195-$280/st DEL for the current contract year.

West Coast:

West Coast annual pricing stood at $185-$270/st DEL.

Brazil:

Brazil import price ideas remained in a $280-$285/mt CFR range through the week.

Ammonium Thiosulfate

Amthio, California, Eastern Cornbelt, Market Watch, Pacific N.W., Specialty, Western Canada, Western Cornbelt

Eastern Cornbelt:

The ammonium thiosulfate market remained at $625-$685/st FOB in the Eastern Cornbelt for the last confirmed prompt pricing, with the low confirmed at Seneca, Ill., and the high at Cincinnati.

Western Cornbelt:

Ammonium thiosulfate pricing was quoted at $625-$675/st FOB in the Western Cornbelt, depending on location.

California:

The ammonium thiosulfate market was steady at $530-$600/st FOB in California, depending on location and supplier.

Pacific Northwest:

The last reported prices for ammonium thiosulfate ranged broadly at $535-$590/st FOB in the Pacific Northwest, depending on supplier and location. No current delivered offers were confirmed in the region.

Western Canada:

The ammonium thiosulfate market in Western Canada was unchanged at C$885/mt DEL for the last prompt business.

Sulfate of Potash

California, Market Watch, Pacific N.W., Specialty, Sulfate of Potash, U.S. Exports, U.S. Imports

U.S. Imports:

April SOP imports were counted at 29,060 st, a 669.9% increase from the year-ago 3,774 st. July-April volumes were noted at 154,129 st, a 71.9% jump from the year-ago 89,677 st.

U.S. Exports:

SOP exported from the U.S. in April firmed 108.4%, to 4,015 st from the prior year’s 1,927 st. Exports were counted at 50,673 st for July-April, up 13.1% from the year-ago 44,808 st.

California:

The granular SOP market was unchanged at $930-1,000/st FOB Stockton, depending on supplier.

Pacific Northwest:

Granular SOP pricing was unchanged at the $990/st FOB level in Washington.