All posts by mickeybarb@charter.net

Phosphoric Acid

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

Eastern Cornbelt:

May pricing for phos acid remained at the $17.50/unit rail-DEL level in the Eastern Cornbelt.

Western Cornbelt:

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

California:

May pricing for phos acid remained at $17.50/unit rail-DEL in California, with MGA referenced at $17.70/unit FOB Lathrop.

Pacific Northwest:

Thephos acid market for May was unchanged at $17.00/unit FOB Pocatello, Idaho, and $17.50/unit rail-DEL in the Pacific Northwest.

India:

India phosphoric acid contracts were quoted at $1,530/mt P2O5 CFR for the first quarter. No updated contract terms for the second quarter were confirmed as of May 26.

Ammonium Polyphosphate

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

Eastern Cornbelt:

The 10-34-0 market was pegged at $860-$900/st FOB in the Eastern Cornbelt in late May.

Western Cornbelt:

New 10-34-0 prices were confirmed at $860/st FOB in Iowa, down from the last reported $900/st FOB level.

California:

The 10-34-0 market was quoted at $855-$860/st FOB in California, unchanged from last report. 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 in late May.

Western Canada:

The 10-34-0 market remained at C$1,150-$1,185/mt DEL for May tons 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

U.S. Gulf:

The NOLA potash barge market remained quiet at $740-$795/st FOB.

Eastern Cornbelt:

Potash pricing was reported at $785-$795/st FOB in the Eastern Cornbelt, with the low confirmed at Cincinnati and reflecting a $5-$15/st drop from last report. The Toledo potash market was pegged at the $790/st FOB level in late May.

Western Cornbelt:

Potash pricing slipped to $780-$795/st FOB in the Western Cornbelt, depending on location, with the low reported 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 was pegged 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.

Eastern Canada:

Sources quoted truck pricing for potash in a wide C$990-$1,020/mt range FOB Saskatchewan mines, depending on grade, supplier, and time of shipment.

Western Canada:

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

India:

The rising price of fertilizers caused the Indian government to increase the budget for subsidies. The government is justifying its additional support for MOP by noting that prices jumped 116% from last year, without a corresponding increase to farmers’ incomes.

The government said it would be increasing the amount available for phosphate and potash support under the NBS program to $786,000 for April-September. This is a jump from the $737,000 it spent for MOP and phosphate subsidies during the whole 2021/22 fiscal year.

China:

January-April imports of MOP were down 17%, to 2.9 million mt from the 3.5 million mt during the same period in 2021, according to Trade Data Monitor.The top three suppliers were Belarus with 832,000 mt, Russia with 798,000 mt, and Canada with 578,000 mt. Israel and Laos also stepped up their shipments to 330,000 mt and 215,000 mt, respectively.

April 2022 imports were reported at 823,000 mt, down from the 949,000 mt imported in April 2021. Five source countries accounted for 91% of the imports. Russia, Canada, and Belarus supplied almost two-thirds of the imports for a total of 524,000 mt. Israel and Jordon were the remaining suppliers with 121,000 mt and 108,000 mt, respectively.

Brazil:

Despite growing concern that additional material from Belarus and Russia might not soon be available, prices for MOP were down slightly to $1,100-$1,200/mt CFR . Sources put the price at $1,125-$1,200/mt CFR .

Sources said concerns remain that the sanctions against the two top producing countries might cause a shortage of product for the second semester of the year. Even with that concern, buyers are refusing to pay higher prices, leaving suppliers with no choice but to either hold onto the product – with the accompanying regular storage fees – or accept the lower price bids from the buyers. Many are opting for the lower prices.

The Brazilian government sent a trade delegation to the Middle East for sessions that included talks about increasing MOP purchases. The Arab Potash Co. (APC) in Jordan told the delegates it would be increasing its sales to Brazil and is looking to establish some production facilities in the country as well.

Even if APC steps up its shipments to Brazil, its output will not be enough to make up for the losses that are expected from Belarus and Russia. The first tons from Jordan came in 2019. At that time, Brazil imported 10.5 million mt of MOP. The Jordanian contribution to that amount was 42,000 mt.

In 2021 Jordanian exports increased to 159,000 mt, but this was against total MOP imports of 12.8 million mt. So far this year, Brazil has imported 3.8 million mt of potash, 591,000 mt above the same period last year, with none of it coming from Jordan.

Sulfur

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

Tampa:

The second-quarter Tampa molten contract price was noted at $481/lt CFR, up $199/lt from the first quarter’s $282/lt CFR price.

Nationwide refinery utilization pushed higher for the week ending May 20, according to the U.S. Energy Information Administration (EIA). Refiners operated at 93.2% of capacity for the week, rising 1.4% from the week-ago 91.8%. The current average topped both the year-ago 87.0% and the five-year average of 86.6%.

Crude inputs reportedly lifted to an average 16.269 million barrels/d, the first move above the 16 million barrel/d mark since the week ending Aug. 20, 2021. The rate increased 334,000 barrels/d from the prior week’s 15.935 million barrels/d.

U.S. Gulf:

Genscape reported the May 21 shutdowns of two 97,000 barrel/d crude distillation units (CDUs), as well as a 120,000 barrel/d CDU, at the ExxonMobil Corp refinery in Baton Rouge, La. The plant’s 225,000 barrel/d Pipestill 10 crude section was noted remaining online. All three affected CDUs were seen as successfully restarting on May 25.

Multiple unit shutdowns were observed at the Calcasieu Lake Charles, La., refinery during the morning of May 25, Genscape noted.

Valero successfully restarted a 128,000 barrel/d CDU and a sulfur recovery unit (SRU) at the company’s Meraux, La., refinery on May 25. All monitored units at the facility were reported going offline on March 30 as part of a planned maintenance project. A 50,000 barrel/d vacuum distillation unit (VDU) and a 55,000 barrel/d hydrocracker showed signs of increasing activity, but had not yet restarted on May 25.

Sources reported the sale of a 20,000 mt sulfur cargo during the week. Priced at $470/mt FOB, the material was slated for June loading from Galveston/Beaumont.

Gulf sulfur pricing continued to be noted in the $470-$480/mt FOB range, unmoved from the prior report.

Brazil:

Brazil imports were heard at $520-$525/mt CFR, based on a recently-awarded CMOC tender. Second-quarter import contracts continued to be noted in the $480-$485/mt CFR range.

Vancouver:

Following China higher, sources described Vancouver export sulfur pricing firming to the $475-$480/mt FOB range in recent trading, up $10/mt from the previous $465-$470/mt FOB range.

Alberta:

Increased activity was observed from a 38,000 barrel/d FCC at the Suncor facility in Edmonton, Alta., on May 19, although the unit remained shy of regular operating levels. The refinery entered a planned maintenance turnaround in late March. The turnaround was expected to end in June.

Alberta sulfur netbacks were indicated in the $366-$411/mt FOB range, a shift from $395-$411/mt FOB reported previously.

West Coast:

Genscape reported the May 21 restart of a 166,000 barrel/d CDU at the PBF Energy refinery in Torrance, Calif. The unit was noted shutting down on May 19, and began showing signs of significant heating on May 20.

West Coast prill indications followed Vancouver higher, firming to $475-$480/mt FOB. Second-quarter molten sulfur contracts were reported in the $375-$390/lt FOB range, an increase from $230-$245/lt FOB in the prior period.

China: CDU capacity growth at China is expected to lead Asian additions through the next five-year period, GlobalData.com reported. China will account for 48% of new capacity in the region, based on announced projects, with eight new CDU refineries projected to come online by 2026.

Recent import sulfur pricing at China was quoted in the $520-$525/mt CFR range, rising from $510-$515/mt CFR reported previously.

ADNOC:

Abu Dhabi National Oil Co. solid sulfur offers were heard at $470/mt FOB Ruwais for May loading, up $50/mt from April’s $420/mt FOB offer.

Qatar:

Qatar prills were noted at $460/mt FOB Ras Laffan for May, an increase of $30/mt from April’s $430/mt FOB posted price.

SULFURIC ACID

U.S. Gulf:

No new pricing was reported for the Gulf import market, leaving values at the week-ago $265-$270/mt CFR level.

Gulf Coast:

Sulfuric acid delivered to locations along the U.S. Gulf Coast was quoted in the $195-$280/st DEL range for 2022 contracts.

Midwest:

Midwest contracts for 2022 were noted even with the Gulf at $195-$280/st DEL.

West Coast:

Sources called the West Coast sulacid market in the $185-$270/st DEL range for current-year contracts.

Brazil:

With no new business reported, Brazil market price ideas continued at their prior $275-$280/mt CFR level.

Sulfuric Acid

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

U.S. Gulf:

No new pricing was reported for the Gulf import market, leaving values at the week-ago $265-$270/mt CFR level.

Gulf Coast:

Sulfuric acid delivered to locations along the U.S. Gulf Coast was quoted in the $195-$280/st DEL range for 2022 contracts.

Midwest:

Midwest contracts for 2022 were noted even with the Gulf at $195-$280/st DEL.

West Coast:

Sources called the West Coast sulacid market in the $185-$270/st DEL range for current-year contracts.

Brazil:

With no new business reported, Brazil market price ideas continued at their prior $275-$280/mt CFR level.

Ammonium Thiosulfate

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

Eastern Cornbelt:

The ammonium thiosulfate market was pegged at $650-$685/st FOB in the Eastern Cornbelt, down another $10-$15/st, depending on location, with the upper end of the range confirmed in Cincinnati. Pricing for limited tons at Terre Haute, Ind., was reported at $650-$670/st FOB, while the Michigan amthio market fell in the $675-$700/st FOB range in late May.

Western Cornbelt:

Ammonium thiosulfate pricing was quoted at $650-$675/st FOB in the Western Cornbelt, depending on location, down from $675-$700/st FOB at last report.

California:

Ammonium thiosulfate pricing in California was reported at $530-$600/st FOB, 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 steady at C$885/mt DEL for May tons, unchanged from last report.