All posts by mickeybarb@charter.net

DAP/MAP

Brazil, Central Florida, China, DAP/MAP, Eastern Canada, Eastern Cornbelt, India, Lithuania, Market Watch, Northeast, Northern Plains, U.S. Exports, U.S. Gulf, Western Cornbelt

Central Florida:

DAP trucks loading from Central Florida remained posted at $640/st FOB, sources said, unmoved from the prior report. Truck-loaded MAP carried a $10/st discount at $630/st FOB, also steady from the previous week.

MAP trucks loaded from North Florida continued to be posted at $650/st FOB, sources reported.

US Gulf:

Sources reported a quiet week in the NOLA DAP and MAP barge markets, noting limited trading.

Imported DAP loading in June continued to be priced at a $450-$460/st FOB floor, unchanged the market’s week-ago low, while domestically-produced tons carried a premium at $500/st FOB, steady from the week-ago high. Sources were unable to point to concluded business at any level, leaving prices unchanged from the prior week. Third-quarter paper trades and offers were noted in a $450-$455/st FOB range.

June-loaded import MAP barges were heard even with DAP in a $450-$460/st FOB range at the low side, unchanged from last-reported $450/st FOB floor, while sources described a block of domestic MAP barges trading at $470/st FOB, off from the prior $490/st FOB top. Domestically-produced tons continued to be indicated at $500/st FOB, although no trades were noted at that level. Players reported a July MAP barge changing hands at $465/st FOB

NOLA DAP barges loading through June were priced in a $450-$500/st FOB range, steady from the week-ago $450-$500/st FOB level. Players put MAP pricing at $450-$470/st FOB, falling from $450-$490/st FOB at last check.

US Exports:

Nothing new was reported on the US Gulf DAP and MAP export markets. Offers for new business were previously noted at $520/st FOB.

Eastern Cornbelt:

DAP dropped to $640-$690/st FOB in the Eastern Cornbelt, down from last week’s high of $700/st FOB, with the low end of the range confirmed in Illinois and the upper end at Cincinnati. MAP was pegged at $670-$690/st FOB in the region in late May.

Western Cornbelt:

DAP remained in a broad range at $625-$680/st FOB in the Western Cornbelt, with the low confirmed at St. Louis. MAP was pegged at $620-$690/st FOB in the region, with the low once again reported at St. Louis.

Northern Plains:

DAP and MAP in the Northern Plains dropped to $670-$680/st FOB St. Paul, down from the previous $685-$710/st FOB range.

Northeast:

Phosphate prices FOB East Liverpool, Ohio, were down roughly $10/st, to $740/st for DAP and $730/st for MAP. DAP remained at a low of $680 FOB Fairless Hills for June pull, however, with delivered MAP offers in Pennsylvania quoted at the $730/st level.

Eastern Canada:

New MAP offers in Eastern Canada were pegged at C$1,049-$1,260/mt FOB, depending on location and supplier, down C$20/mt at the high end of the range. DAP remained at the C$1,038/mt FOB level in Montreal.

China:   

Sources reported no new public DAP deals, but noted that producers are now offering tons at $470/mt FOB. The drop in pricing was not unexpected. Indian buyers have been especially aggressive in pushing down the price of DAP, and have been successful with each new round of talks. One trader noted that if producers are offering at $470/mt FOB, then buyers are pushing hard on even lower prices.

India:     

Sources reported no new spot DAP business. Contract buyers continue to receive their product without difficulty.

Brazil:   

The landed price for MAP softened to $470-$490/mt CFR. Sources attributed the decline to full warehouses in Brazil, as well as to reports that China will be making more phosphates, including MAP, available to the global market.

Rondonopolis was reported down to $600-$630/mt FOB ex-warehouse. Sources said the lower prices come as sales continue to lag. The steady downward slide has farmers waiting until the absolute last minute before they commit to a purchase. So far, no one has been able to identify a price floor.

Lithuania:

AB Lifosa has suspended operations at its Kėdainiai production facilities due to scheduled annual maintenance, according to local media reports, citing a company media statement. The company has not indicated when production will resume.

The Kėdainiai plant has suffered several extended outages over the past 18 months, most recently in February and March. Due to payment delays, the result of lengthy sanctions-related procedures for verifying financial transactions, Lifosa has reportedly had issues settling payments with raw material suppliers (GM March 17, p. 11).

The company’s DAP production capacity is rated at 1 million mt/y.

Phosphoric Acid

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

Eastern Cornbelt:

May phos acid postings in the Eastern Cornbelt remained at $14.00/unit rail-DEL, but prices for June were slated to drop to $9.50/unit DEL.

Western Cornbelt:

Phos acid was unchanged at $14.00/unit rail-DEL in the Western Cornbelt for May tons. A drop to $9.50/unit DEL is scheduled for June.

Northern Plains:

Phos acid pricing remained at $14.00/unit rail-DEL for May tons in the Northern Plains, but June pricing is reportedly dropping to $9.50/unit DEL in the region.

India:

Contracts for phos acid delivered to India in the second quarter were valued at $970/mt P2O5 CFR, sources said, off $80/mt from $1,050/mt CFR in the prior period.

Ammonium Polyphosphate

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

Eastern Cornbelt:

The 10-34-0 market was steady at $675-$685/st FOB in the Eastern Cornbelt, with the high reported out of inland terminals in Ohio.

Western Cornbelt:

10-34-0 remained at $655-$675/st FOB in the Western Cornbelt, with the low in Nebraska and the high in Iowa.

Northern Plains:

The 10-34-0 market was unchanged at $650-$670/st FOB in the Northern Plains, with the low confirmed in North Dakota. Delivered pricing remained in a broad range at $700-$750/st in central and western North Dakota.

Northeast:

10-34-0 pricing slipped to $705/st FOB in New York, down $20/st from last report.

Muriate of Potash

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

US Gulf:

NOLA potash barges weakened a bit as the week wore on, to $380-$400/st FOB from $390-$400/st FOB reported last

Eastern Cornbelt:

Potash was unchanged at $435-$460/st FOB in the Eastern Cornbelt, with the low confirmed at Cincinnati. The market FOB Toledo, Ohio, was reported at $445-$450/st FOB for May-June tons.

Western Cornbelt:

Potash remained at $425-$445/st FOB in the Western Cornbelt, with the low confirmed at St. Louis.

Northern Plains:

Potash slipped to $450-$460/st FOB St. Paul, with delivered tons quoted at the $450-$470/st level in the Northern Plains. The latest prices FOB Saskatchewan mines were reported at $462-$472/st, depending on grade.

Northeast:

Potash was quoted at $455/st FOB East Liverpool, down roughly $10/st, with the last Fairless Hills offers reported at the $460/st FOB level for May-June pull. Delivered potash in central Pennsylvania was quoted at the $465/st level in late May.

Eastern Canada:

Potash pricing in Eastern Canada was steady at the C$740/mt level FOB regional warehouses.

Jordan:

Arab Potash Co. (APC) on May 24 signed a third potash supply contract with an Indian customer, the company said in a May 30 filing to the Amman Stock Exchange. APC clarified that it signed two supply contracts with Indian customers earlier in May (GM May 19, p. 14) after agreeing on issues, including volumes, following “tentative agreements” reached on April 11 and April 12.

APC on May 14 reported signing new contracts with its customers in India to supply potash for a period of six months, at a price in line with the $422/mt CFR set by Canpotex and Uralkali in early April, and followed by ICL in early May (GM April 7, p. 14;May 5, p. 13). There were reports in April that APC had reached a new supply contract with India’s biggest potash importer, IPL (GM April 21, p. 13).

The Jordanian producer has not disclosed the volumes agreed with its Indian customers, which, in addition to IPL, is understood to include Zuari Agro Chemicals.

Brazil:   

The price tightened to $330-$360/mt CFR. The market lost about 10% of its value in May. Further declines are expected, as both sides of the negotiating table have expressed negative views on pricing.

Rondonopolis also came down slightly to $450-$480/mt FOB ex-warehouse. The market’s subdued nature is frustrating players. Sources said that purchases for the soybean crop are still off 10-15% from the norm, and potash holders are wondering when that remaining portion of the market will come in. At the same time, buyers are holding off due to the continued decline in prices. All sides are looking for a floor.

Thailand:      

Potash imports softened 47% in January-April, Trade Data Monitor reported, to 135,000 mt from the year-ago 253,000 mt. Imports were noted at 40,000 mt in April, off from 83,000 mt logged in April 2022. Imports from Canada and Russia accounted for a combined 77% of April tonnage, while up-and-coming supplier Laos sent 5,600 mt.

Sulfur

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

Tampa:

The second-quarter contract price of molten sulfur delivered to Tampa was set at $103/lt CFR, $27/lt below $130/lt in the first quarter, a 20.8% decrease. Reduced run rates and planned summer turnarounds expected from phosphate producers were noted limiting demand.

US Gulf:

Various sellers were reported to have available product they are unable to sell. Pricing continued to be estimated at $75-$85/mt FOB, unchanged last week.

Brazil:

Sources noted Brazil spot prices softening to a $105-$115/mt CFR range. Players noted a lack of demand in a well-supplied market, while logistic constraints continued due to port terminal maintenance. The market’s next demand wave is expected for August arrival.

Vancouver:   

Vancouver prices continued in the $80-$85/mt FOB range, unchanged from last week.

Alberta:

Based on both molten sulfur cargoes contracted into the US market and solid tons sold through the Vancouver export market, Alberta sulfur netbacks were unmoved in a (-)$12-$33/mt range.

West Coast:

West Coast prills were indicated on par with Vancouver in a $80-$85/mt FOB range, steady from one week earlier.

Molten sulfur contracts for loading in the second quarter were reported at $98-$106/lt FOB, falling from $125-$135/lt FOB in the prior period.

China:     

China spot sulfur continued to be reported in a $105-$110/mt CFR range. Market watchers described a lack of interest from buyers, building producers phosphate inventories, and increasing sulfur inventories at the ports, all mixed with a decline in global phosphate prices.

ADNOC:

No updates were reported for the June Abu Dhabi National Oil Co. (ADNOC) price. May prices were posted at $84/mt FOB Ruwais.

Qatar:

June Muntajat solid sulfur cargoes remained posted at $86/mt FOB Ras Laffan, unchanged from May. Some believed a $10/mt discount was possible on firm interest.

Sulfuric Acid

Brazil, Market Watch, Sulfuric Acid, U.S. Gulf

US Gulf:

No changes were reported in the US Gulf. Price ideas were estimated at $65-$80/mt CFR, depending on specification.

Brazil:

Multiple transactions were reported in the $70-$80/mt CFR. The cargoes, said to originate in Northwest Europe with an estimated $0-$10/mt FOB netback, were linked to Glencore. Sources reported similar price levels on recent sales into Argentina.

Ammonium Thiosulfate

Amthio, Eastern Canada, Eastern Cornbelt, Market Watch, Northern Plains, Specialty, Western Cornbelt

Eastern Cornbelt:

Ammonium thiosulfate was quoted at $360-$390/st FOB in the Eastern Cornbelt, with the low in Illinois and the high at Terre Haute, Ind. The Cincinnati market remained at the $385/st FOB level in late May.

Western Cornbelt:

The ammonium thiosulfate market remained at $340-$370/st FOB in the Western Cornbelt, with the low confirmed at Waterloo, Iowa.

Northern Plains:

The latest offers for ammonium thiosulfate remained at $360/st FOB in central North Dakota.

Eastern Canada:

The ammonium thiosulfate market tightened to C$655-$660/mt FOB in Eastern Canada in late May, down C$20/mt at the high end of the range.