All posts by mickeybarb@charter.net

Phosphoric Acid

Eastern Cornbelt, India, Market Watch, Phosphoric Acid, Southern Plains, 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.

Southern Plains:

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

India:

Contracts for phosphoric acid delivered to India were quoted at $1,530/mt P2O5 CFR for the first quarter, a $200/mt increase from $1,330/mt CFR in the prior period. Updated supplier offers were recently pegged closer to $2,000/mt P2O5 CFR, with no signings reported.

Ammonium Polyphosphate

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

Eastern Cornbelt:

The 10-34-0 market was pegged at $890-$990/st FOB in the Eastern Cornbelt at mid-month.

Western Cornbelt:

Sources continued to report limited 10-34-0 offers in the $890-$900/st FOB range in the Western Cornbelt, with the high confirmed in Iowa.

Southern Plains:

The 10-34-0 market fell to $800-$815/st FOB for the last reported offers in the Southern Plains, well below the previous $880-$890/st FOB range, with sources describing positions as long and “acid cars still coming.” 11-37-0 pricing in Texas was pegged in the $870-$890/st FOB range for the last reported offers.

Muriate of Potash

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

U.S. Gulf:

NOLA potash barges were called $740-$795/st FOB, with most citing the lower $740-$760/st FOB range later in the week.

Eastern Cornbelt:

Potash pricing continued to retreat, with new spot offers reported at $780-$800/st FOB in the Eastern Cornbelt, down another $5-$10/st from last report. The Cincinnati potash market was pegged at $790-$800/st FOB during the week, down from $805/st at last report.

Western Cornbelt:

Potash pricing slipped to $780-$800/st FOB in the Western Cornbelt, depending in location, with the low reported at St. Louis. The Caruthersville potash market was pegged at the $795/st FOB level at midweek.

Southern Plains:

Potash pricing was quoted at $770-$780/st FOB Catoosa/Inola and $785/st FOB Houston, down $10-$15/st from last report. 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 slipped to $780-$810/st FOB in the South Central region, down another $5-$10/st from last report, with the low confirmed in Kentucky and the high at Shreveport. Pricing out of most Arkansas River terminals was reported at the $795-$800/st FOB level, while the Memphis market was pegged at $800-$805/st FOB.

Southeast:

The latest potash offers in the Southeast were confirmed at $800/st FOB port terminals, with rail-DEL Canadian tons pegged in the $830-$840/st range in the Southeast.

Brazil:

MOP prices dipped to $1,125-$1,200/mt CFR in Brazil.

Buyers remain anxious that prices will remain high because of sanctions against Russia and Belarus, two of Brazil’s major MOP suppliers. Even with concern that existing stockpiles may not be replaced, buyers are refusing to pay the current high prices. The lack of any serious movement is forcing holders of the MOP to sell at lower rates to clear out space for tons coming in or to reduce the daily storage charges.

Rondonópolis prices dropped slightly to $1,230-$1,330/mt FOB ex-warehouse.

South Korea:

MOP imports in January-April 2022 were reported at 223,000 mt by Trade Data Monitor. This represents a 13% drop from the 256,000 mt imported during the same period in 2021. The main supplier was Canada with 128,000 mt. All other suppliers each sent 45,000 mt or less.

April 2022 imports were reported at 56,000 mt, down 17% from the 67,000 mt imported in April 2021. Canada and Laos were the two major suppliers at 31,000 mt and 24,000 mt, respectively.

Sulfur

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

Tampa:

Tampa molten contracts stood at $481/lt CFR for delivery in the second quarter, a $199/lt increase from the prior $282/lt CFR deal.

Refinery utilization shifted higher for the week ending May 13, according to U.S. Energy Information Administration (EIA) data. Nationwide capacity stood at 91.8% for the period, a 1.8 point increase from 90.0% at last report. The current-week rate kept ahead of both the year-ago 86.3% and the 85.8% five-year average.

Crude inputs lifted to an average 15.935 million barrels/d, a 239,000 barrels/d increase from the week-ago 15.696 million barrels/d average.

U.S. Gulf:

A power loss shut a 40,000 barrel/d crude distillation unit (CDU) and a 32,000 barrel/d vacuum distillation unit (VDU) at the Valero Corpus Christi (West), Texas, refinery on May 17, according to Genscape. Both units were successfully restarted on May 18.

Recent Gulf sulfur pricing was reportedly holding in the $470-$480/mt FOB range, unmoved from one week earlier.

Brazil:

Last-done Brazil import values were reported at $520-$525/st CFR during the week. The market was previously noted in a wider $510-$530/mt CFR range.

The market’s sideways movement led some to speculate that international sulfur pricing may have found a local top. “Pricing may have peaked for the moment,” one source argued. “Lots of sulfur everywhere. Very odd given the (Russian war in Ukraine), but I guess the Russians are getting their tons to market.”

Second-quarter Brazil contracts were counted at $480-$485/mt CFR.

Vancouver:

Recent Vancouver export solid sulfur pricing was reported at $465-$470/mt FOB. Some expected values to push closer to $480/mt FOB in the next round of business.

Alberta:

Shell was observed restarting a shuttered sulfur recovery unit (SRU) on May 13 at its upgrader in Scotford, Alta., Genscape noted, after the unit was reported going offline earlier the same day. A 48,000 barrel/d hydrocracker and a 65,000 barrel/d hydrotreater were noted offline since March 15 as part of a planned turnaround.

Alberta market indications continued at $395-$411/mt FOB, steady from the previous report.

West Coast:

A May 14 power outage reported at the Marathon Wilmington, Calif., refinery resulted in the shutdown of a 32,000 barrel/d hydrocracker, Genscape reported. Increased activity observed from the unit on May 15 was followed by a reported restart on May 17.

Phillips restarted the 23,000 barrel/d Unit 246 hydrocracker at the company’s Rodeo, Calif., plant on May 16. The unit was reported going offline on May 9.

A 50,000 barrel/d fluidic catalytic cracking unit (FCC) that reportedly shut down on May 10 at the Phillips 66 plant in Wilmington was restarted on May 15. A 28,000 barrel/d hydrocracker has been reported offline at the site since March 31.

West Coast spot indications remained in the $465-$470/mt FOB range, unchanged from the prior report. Molten contracts for second-quarter fulfillment were quoted at $375-$390/lt FOB, an increase from $230-$245/lt FOB in Q1.

China:

Crude throughput at refiners in China dropped 11% year-over-year in April due to tightening COVID lockdowns, according to data released by China’s National Bureau of Statistics and reported by Reuters, leaving refinery runs at their lowest levels since March 2020.

April throughput was pegged at 12.61 million barrels/d, off from 14.09 million barrels/d noted in April 2021. January-April volumes were down 3.8% from the year-ago 13.58 million barrels/d.

Both state-run and independent refiners were observed dialing back run rates to compensate for the market’s lockdown-driven loss of demand.

Last-done sulfur imports continued to be heard in the $510-$515/mt CFR range, steady from the prior report.

ADNOC:

ADNOC prills were heard at $470/mt FOB Ruwais for May, a $50/mt increase from the $420/mt FOB level posted in April.

Qatar:

QatarEnergy awarded a lump-sum EPC contract for the company’s North Field East LNG expansion project, valued at over $600 million, to a joint venture between Tecnicas Reunidas and Wison Engineering, Bloomberg reported.

In addition to the North Field East project, the contract includes an option to expand sulfur production at QatarEnergy’s North Field South project. The North Field East expansion is expected to be completed by the end of 2025.

Qatar prilled sulfur was posted at $460/mt FOB Ras Laffan for May loading, sources said, a $30/mt increase from the $430/mt FOB posted in April.

Sulfuric Acid

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

U.S. Gulf:

Last-done sulfuric acid cargoes imported to the U.S. Gulf were reported in the $265-$270/mt CFR range, steady from the prior report.

Gulf Coast:

Gulf Coast delivered contracts were quoted in a wide $195-$280/st DEL range for 2022.

Midwest:

Sources described sulacid delivered to the U.S. Midwest as even with the Gulf Coast for contract-year 2022, at $195-$280/st DEL.

West Coast:

Material slated for West Coast delivery was quoted in the $185-$270/st DEL range for 2022 agreements.

Brazil:

Brazil imports were most recently heard in the $275-$280/mt CFR range, unchanged from one week earlier.

Ammonium Thiosulfate

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

Eastern Cornbelt:

The ammonium thiosulfate market was pegged at $660-$700/st FOB in the Eastern Cornbelt, with the low reported at Seneca, Ill., and the high at Terre Haute. Pricing at Cincinnati and Ottawa was confirmed at the $675/st FOB level, down some $25/st from last report.

Western Cornbelt:

Ammonium thiosulfate pricing was quoted at $675-$700/st FOB in the Western Cornbelt, depending on location, down from the last reported $685-$725/st FOB range.

Southern Plains:

Ammonium thiosulfate pricing at Houston was reportedly down to $525/st FOB, reflecting a drop of $25/st. Prices at Lubbock, Texas, were quoted at the $550/st FOB mark at mid-month.

South Central:

The ammonium thiosulfate market was steady at $600-$610/st FOB Memphis, unchanged from last report.