All posts by mickeybarb@charter.net

UAN

Eastern Cornbelt, Market Watch, South Central, Southeast, Southern Plains, U.S. Gulf, UAN, Western Cornbelt

U.S. Gulf:

NOLA UAN barges continued to be put at $620-$630/st ($19.38-$19.69/unit) FOB.

Eastern Cornbelt:

The UAN-32 market was quoted at $660-$675/st ($20.63-$21.09/unit) FOB in the Eastern Cornbelt, with the low at Mount Vernon, Ind., and the high at Ottawa, Ill. Sources continued to report the Cincinnati, Ohio, market at $665/st ($20.78/unit) FOB for UAN-32 and $590-$595/st ($21.07-$21.25/unit) FOB for UAN-28.

Western Cornbelt:

The UAN-32 market was unchanged at $650-$675/st ($20.31-$21.07/unit) FOB regional terminals in the Western Cornbelt, with the low confirmed at St. Louis. Pricing out of most Iowa terminals remained in the $665-$675/st ($20.78-$21.07/unit) FOB range in late April, depending on location.

Southern Plains:

UAN-32 pricing out of regional production points was quoted at $640-$665/st ($20.00-$20.79/unit) FOB in late April, depending on location. The market out of Gulf Coast terminals in Texas had reportedly firmed to the $670/st ($20.94/unit) FOB level, with reports of delivered tons at $674/st ($21.06/unit) to points in central Texas.

South Central:

The UAN-32 market was pegged at $650-$670/st ($20.31-$20.94/unit) FOB in the South Central region, up $10/st from last report, with the low confirmed out of spot Mississippi River locations and the high reported in Kentucky out of Ohio River terminals.

Southeast:

Port terminal prices for UAN-32 in the Southeast were reported at $625-$640/st ($19.53-$20.00/unit) FOB inland terminals in Georgia, $640/st ($20.00/unit) FOB Savannah, Ga., $661/st ($20.66/unit) FOB Wilmington, and $675/st ($21.09/unit) FOB Norfolk.

Ammonium Nitrate

Ammonium Nitrate, Market Watch, South Central, Southern Plains, Western Cornbelt

Western Cornbelt:

The ammonium nitrate market was unchanged at $780-$800/st FOB in the Western Cornbelt.

Southern Plains:

The ammonium nitrate market was steady at $765-$775/st FOB terminals in Oklahoma.

South Central:

Ammonium nitrate pricing covered a broad range at $740-$780/st FOB in the South Central region, with the low at Yazoo City, Miss., and the high out of upriver terminals on a spot basis.

Ammonium Sulfate

Ammonium Sulfate, Brazil, China, Eastern Cornbelt, Market Watch, South Central, Southeast, Southern Plains, U.S. Gulf, Western Cornbelt

U.S. Gulf:

NOLA ammonium sulfate barges were reported stable at $675-$695/st FOB.

Eastern Cornbelt:

The granular ammonium sulfate market was unchanged at $740-$760/st FOB in the Eastern Cornbelt, depending on location, with Cincinnati pricing quoted at $750-$760/st FOB in late April.

Western Cornbelt:

The ammonium sulfate market was pegged at $705-$740/st FOB in the Western Cornbelt, with the low reported at St. Louis and the high in Iowa. The market FOB Caruthersville, Mo., was reported at the $730/st FOB level in late April.

Southern Plains:

Granular ammonium sulfate pricing jumped to $710/st FOB Catoosa/Inola, up $10/st from last report. New Houston offers were confirmed at $600-$625/st FOB, up from a recent low of $585/st FOB.

South Central:

The ammonium sulfate market was quoted at $690-$730/st FOB in the South Central region, with the high confirmed in Arkansas and the low reported at Memphis, reflecting a $5/st increase from last report.

Southeast:

Ammonium sulfate postings from AdvanSix FOB Hopewell, Va., remained at $670/st for granular, $630/st for mid-grade, and $610/st for standard. Delivered pricing in the Florida market was steady as well at $635/st for standard and $735/st FOB for granular.

China:

Sources described the market as quiet and soft. Caprolactam amsul is now pegged at $320-$330/mt FOB. Some demand is picking up, but not enough to prompt an upward shift in pricing.

Brazil:

The price for standard granular ammonium sulfate continues to fall. Sources put the landed price at $440-$460/mt CFR. The Rondonopolis price tightened to $605-$640/mt FOB ex-warehouse.

DAP/MAP

Brazil, Central Florida, China, DAP/MAP, Eastern Cornbelt, India, Market Watch, South Central, Southeast, Southern Plains, U.S. Exports, U.S. Gulf, Western Cornbelt

Central Florida:

Central Florida DAP trucks were posted at $945/st FOB, steady from one week earlier. Truck-loaded MAP was even with DAP at $945/st FOB, also unchanged from the prior report.

MAP trucks selling from North Florida continued to be posted at $1,025/st FOB, sources said.

U.S. Gulf:

Sources reported a precipitous drop in NOLA barge phosphate pricing during the week.

DAP pricing was typically noted softening to the $880-$910/st FOB range on April 28, following early-week reports of pricing at the $925-$950/st FOB level. Price indications on domestically produced DAP continued to be quoted at $970/st FOB, with no trades reported at that level.

NOLA MAP barges experienced a similar decline, with $900/st FOB offers reported early on April 28 followed by an $870/st FOB trade later the same day. Some believed that trade to be an outlier, however, pointing to subsequent $895/st FOB bids failing to gain traction.

Market sources largely disagreed on the likely impetus behind the falling values, with some pointing to ongoing slow planting and the decline in May ammonia pricing, while others speculated on a possible index play at work.

DAP barges were noted in a wide $880-$950/st FOB range for the week, a decline from $950-$970/st FOB in the prior report. Players described MAP at $870-$940/st FOB, falling from $960-$980/st FOB the week before.

U.S. Exports:

Players continued to note last-done DAP and MAP exports at $1,240/mt FOB.

Eastern Cornbelt:

DAP pricing reportedly slipped to $980-$1,010/st FOB in the Eastern Cornbelt, down another $10-$15/st from the prior week, with MAP pegged at $990-$1,015/st FOB. The lower end of both ranges was reported at Cincinnati during the week, while the Ottawa market was pegged at the $1,000/st FOB level for both DAP and MAP.

Western Cornbelt:

DAP pricing reportedly slipped to $975-$1,005/st FOB in the region, down $15-$20/st, with the high reported in Iowa. The St. Louis DAP market was pegged in the $975-$990/st FOB range, while pricing at Caruthersville landed at the $1,000/st FOB mark during the week.

MAP was quoted at $980-$1,015/st FOB in the Western Cornbelt, depending on location, also reflecting a $15-$20/st decline from the previous week.

Southern Plains:

DAP pricing in the Southern Plains slipped to $960-$1,000/st FOB in late April, down some $30-$40/st, with the low confirmed at Houston. Houston MAP pricing was pegged at the $970/st FOB level, down $15/st from the previous week. The Catoosa/Inola markets were reported at $975-$1,000/st FOB for DAP and $980-$1,000/st FOB for MAP.

“We may be on the edge of ‘let’s make a deal’ to get long positions out,” said one source about Catoosa/Inola phosphate pricing.

South Central:

DAP prices were quoted at $990-$1,015/st FOB in the South Central region, with the low reported in Kentucky and the high at Memphis. Most Arkansas River terminals fell in the $1,000-$1,010/st FOB range in late April.

Southeast:

Nutrien’s postings for DAP and MAP were steady at $1,025/st FOB Aurora, N.C., with MAP pricing at White Springs, Fla., also reported at the $1,025/st FOB level.

China:

Sources said Chinese authorities are allowing more small quantities of DAP and MAP to be exported. Besides shipments to regional buyers, sources reported at least one vessel of MAP is bound for Brazil.

Prices for DAP have not shifted from the estimated netback from the previous Nepal tender at $1,050-$1,100/mt FOB.

India:

The rising costs of producing DAP forced the government to increase the maximum retail price to Rs1,350 per 45 kg bag (US$17.60 per 45 kg bag). At the same time, the government also increased the subsidies to be paid for DAP to Rs2,015 per 45 kg bag (US$32.16 per 45 kg bag).

Sources said the high prices attached to phos acid, sulfur, and ammonia make importing DAP more economical than pushing for more domestic production.

Even with the demand for imported DAP, the purchases that seem to be taking place are mostly for Chinese tons booked late last year under contracts. Chinese authorities are allowing a limited amount of DAP to be shipped to fulfill these contracts, but at the older price.The lack of any spot tons is keeping the Indian price in the low-$920s/mt CFR.

Brazil:

The price of imported MAP softened a bit at the top, with sources quoting the market at $1,250-$1,300/mt CFR. Some Chinese MAP is reportedly in the current vessel line up. The tons represent some of the limited cargoes Chinese authorities are allowing to be shipped.

Rondonópolis is also softening, with sources reporting the price at $1,350-$1,470/mt FOB ex-warehouse. It seems that some suppliers are offering discounts for immediate shipments as a way to clear out their warehouses in anticipation of future tons coming in from overseas, sources said.

TSP

Market Watch, South Central, Triple Superphosphate, U.S. Gulf, Western Cornbelt

U.S. Gulf:

With minimal TSP barge trading confirmed at NOLA for the week, pricing continued at the market’s last-reported $850-$860/st FOB level. Values were expected to follow the broader phosphate market lower in the next round of business.

Western Cornbelt:

TSP pricing was reported in the $885-$935/st FOB range in the Western Cornbelt, depending on location, with the low confirmed at Caruthersville.

South Central:

The TSP market had reportedly firmed to $885-$900/st FOB in the South Central region, with the low reported in Arkansas on a spot basis and the high at Memphis.

Phosphoric Acid

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

Eastern Cornbelt:

April 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 April tons.

Southern Plains:

April pricing for phos acid was unchanged at the $17.50/unit rail-DEL level in the Southern Plains.

India:

First-quarter phosphoric acid contracts with buyers in India were reported at $1,530/mt P2O5 CFR. Substantial increases are expected in the next round of contracting.

Ammonium Polyphosphate

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

Eastern Cornbelt:

The 10-34-0 market was steady at $900-$910/st FOB in the Eastern Cornbelt in late April, with the low confirmed at Cincinnati.

Western Cornbelt:

Sources continued to report limited 10-34-0 offers in the $900-$910/st FOB range in the Western Cornbelt.

Southern Plains:

The 10-34-0 market was quoted at the $880-$890/st FOB level for the last reported offers in Kansas. 11-37-0 pricing in Texas was pegged in the $880-$900/st FOB range in late April.

Muriate of Potash

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

U.S. Gulf:

NOLA potash barges continued to be called $775-$820/st FOB, with the low reported for the domestic market and the high still doable for exports. There was a report of a forward domestic trade for as low as $740/st FOB.

Eastern Cornbelt:

Potash pricing in the Eastern Cornbelt remained at $800-$820/st FOB during the week, depending on location. Spot quotes included $800/st FOB river terminals in southern Indiana, $810/st FOB Ottawa, and $815/st FOB Cincinnati.

Western Cornbelt:

Potash pricing slipped to $790-$825/st FOB in the region, depending on location, with the high reported at Caruthersville and on a spot basis in the Iowa market. The St. Louis potash market was pegged in the $790-$805/st FOB range, with pricing at St. Paul quoted at $790-$810/st FOB in late April.

Southern Plains:

Potash pricing was quoted at $795-$825/st FOB in the Southern Plains, with the low reported at Houston and reflecting a $30/st drop from the prior week – a roughly $80/st drop from price levels reported in early April. The common potash price FOB Catoosa/Inola was pegged at $800/st FOB in late April.

Potash postings from Intrepid FOB Carlsbad, N.M., remained at $855/st for 60 percent white granular and $875/st FOB for 62 percent white standard.

South Central:

The potash market slipped to $800-$825/st FOB in the South Central region, down $10/st from last report, with the low confirmed in Kentucky and the high in Arkansas. The Memphis potash market was pegged in the $810-$815/st FOB range in late April.

Southeast:

New potash offers in the Southeast were confirmed at $810/st FOB port terminals at Wilmington, Charleston, and Norfolk, up from recent lows in the upper-$700s/st. Rail-DEL potash was pegged in the $830-$840/st range in the Southeast.

Brazil:

A tightening of the market price to $1,170-$1,250/mt CFR seems to be coming as buyers become concerned that future supplies from Russia and Belarus will dwindle as global sanctions take hold.

Rondonópolis softened a bit to $1,270-$1,350/mt FOB ex-warehouse as sellers look to clear out their warehouses in the hopes that newer MOP arrives for the second semester of the year.

Sulfur

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

Tampa:

Molten sulfur contracts at Tampa were valued at $481/lt CFR for second-quarter delivery, a $199/lt increase from $282/lt CFR in the prior period.

Refinery utilization took a step back in the Energy Information Administration’s (EIA) most recent report. Refiners operated at 90.3 percent of capacity for the period ending April 22, a 0.7-point decrease from 91.0 percent in the prior report. Despite the decline, the current rate remained above both the year-ago 85.4 percent and the 85.1 percent five-year average.

Daily crude inputs were reported at an average 15.684 million barrels/d through the week, falling 33,000 barrels/d from 15.717 million barrels/d during the prior week.

U.S. Gulf:

Local news outlets reported an April 23 explosion and fire at the Valero Meraux, La., refinery, resulting in multiple injuries. The cause of the blaze was not immediately known. Genscape reported the refinery as completely offline for planned maintenance since March 30, while a 55,000 barrel/d hydrocracker has been offline since Feb. 20.

Genscape reported the April 22 shutdown of a 220,000 barrel/d crude distillation unit (CDU), an associated 160,000 barrel/d vacuum distillation unit (VDU), and an 80,000 barrel/d coker at the Valero St. Charles, La., refinery. Increased activity was observed from the CDU and VDU on April 26, although both units remained below operable levels.

Shell suffered the shutdown of a 110,000 barrel/d fluidic catalytic cracking unit (FCC) at its Norco, La., facility on April 26. The stoppage was accompanied by elevated flaring.

LyondellBasell Ind. on April 21 announced plans to permanently shutter its 268,000 barrel/d Houston, Texas, refinery before the end of 2023. The closure, which will likely be completed before Dec. 31, 2023, is expected to mark LyondellBasell’s complete withdrawal from the refining business, said interim CEO Ken Lane.

Price ideas on sulfur shipping out of the U.S. Gulf were noted firming to the $470-$480/mt FOB range, players reported. Values were last heard at $460-$480/mt FOB.

Brazil:

Last-done Brazil spot imports continued to be heard in the $510-$530/mt CFR range. Brazil contracts were reported at $480-$485/mt CFR for delivery in the second quarter.

Vancouver:

Vancouver spot values were noted at $410-$415/mt FOB for the week, firming from $405-$415/mt FOB reported previously.

Alberta:

Suncor on April 26 shut a 60,000 barrel/d CDU at the company’s Edmonton, Alta., refinery, according to Genscape. The facility was reported going into a maintenance turnaround in late March.

Sulfur netbacks at Alberta were indicated in the $340-$411/mt FOB range, firming from $335-$411/mt FOB in the prior report.

West Coast:

West Coast solid tons firmed to $410-$415/mt FOB, above the week-ago $405-$415/mt FOB. Second-quarter molten contracts were quoted at $375-$390/lt FOB, lifting from $230-$245/lt FOB in the prior period.

China:

China refinery throughput fell in March due to reduced fuel demand stemming from intensifying COVID lockdowns, according to the country’s National Bureau of Statistics (NBS) and reported by Reuters.

Crude runs for the month were noted at an average 13.8 million barrels/d, down 2.0 percent year-over-year from 14.08 million barrels/d. Utilization for the first quarter was down 1.5 percent from 13.91 million barrels/d logged in 1Q 2021.

Independent “teapot” refinery utilization dropped to 52.15 percent of capacity at the end of March, down from a combined 60.93 percent earlier in the month. Roughly 460,000 barrel/d of capacity was noted going offline at state-operated refineries from March 1-31. Refinery outputs were projected to decline further in April.

China spot import sulfur pricing inched higher to $475-$480/mt CFR, sources reported, up from $470-$475/mt CFR range in the prior week.

ADNOC:

Abu Dhabi National Oil Co. pricing for April was reported at $420/mt FOB Ruwais. May pricing was expected to move higher.

Qatar:

Muntajat reportedly raised solid sulfur offers to $460/mt FOB Ras Laffan for loading in May. Offers were reported at $430/mt FOB in April, a $30/mt difference, and up $127/mt from the $333/mt FOB level offered in March.

Sulfuric Acid

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

U.S. Gulf:

Spot sulfuric acid price ideas continued to be heard at the $265-$270/mt CFR level, unchanged from one week earlier.

Gulf Coast:

Sulacid delivered by rail to locations on the U.S. Gulf Coast was noted in the $195-$230/st DEL range for 2022 contracts.

Midwest:

Midwest annual pricing was quoted at $195-$230/st DEL for 2022 agreements.

West Coast:

Players described West Coast sulfuric acid in the $185-$220/st DEL range for current-year deals.

Brazil:

With nothing new heard on the Brazil import market, price ideas continued to land in the $275-$280/mt CFR range, unmoved from one week earlier.