All posts by mickeybarb@charter.net

UAN

Eastern Canada, Eastern Cornbelt, Market Watch, Northeast, Northern Plains, U.S. Gulf, UAN, Western Cornbelt

U.S. Gulf:

NOLA UAN barges, which have been relatively quiet for many weeks, quickly moved to $575-$630/st ($17.97-$19.69/unit) FOB during the week, up from the week-ago $560/st ($17.50/unit) FOB.

Eastern Cornbelt:

UAN terminal prices were edging higher in the Eastern Cornbelt. March-June UAN-32 prices were reported at $625/st ($19.53/unit) FOB Mount Vernon, Ind., $630/st ($19.69/unit) FOB Cincinnati, $635/st ($19.84/unit) FOB Peru, Ill., and $640/st ($20.00/unit) FOB Seneca, Ill. Those levels were generally up $10-$30/st from last report.

The UAN-28 market was pegged in a broad range at $530-$555/st ($18.93-$19.83/unit) FOB Cincinnati, up from the last reported $508-$538/st ($18.14-$19.21/unit) FOB level, with the lower end of the range confirmed early in the week and the high on March 10.

Industry sources said CF was reported to have accepted offers for more than 200,000 tons in its recent UAN tender, 72 percent of which was for prompt March tons and mostly from Donaldsonville, La. Those specifics were not confirmed directly by the company, however.

Western Cornbelt:

The UAN-32 market for March-June tons reportedly firmed to $620/st ($19.38/unit) FOB Woodward, Okla., $625/st ($19.53/unit) FOB St. Louis, and $630/st ($19.69/unit) FOB Coffeyville, Kan., and Port Neal, Iowa, up some $10-$30/st from the last confirmed prompt or spring offers, depending on location.

Northern Plains:

UAN-32 pricing had reportedly firmed to $655/st ($20.47/unit) FOB Winona and Pine Bend, Minn., up $20-$30/st from last report, depending on location. The UAN-28 market in North Dakota was pegged at $570/st ($20.36/unit) FOB for prompt tons.

Northeast:

The UAN-32 market surged to $660-$680/st ($20.63-$21.25/unit) FOB Baltimore, Md., up from $620-$630/st ($19.38-$19.69/unit) FOB at last report, with new offers at Fairless Hills, Pa., reported at the $700/st ($21.88/unit) FOB level.

UAN-32 pricing out of terminals in upstate New York reportedly jumped to as high as $750-$770/st ($23.44-$24.06/unit) FOB, up from the last reported price of $672/st ($21.00/unit) in mid-February.

In the Southeast, sources reported new UAN-32 offers at the $650/st ($20.31/unit) level FOB Savannah at midweek.

Eastern Canada:

The UAN-28 market firmed to C$800-$823/mt (C$28.57-$29.39/unit) FOB in Eastern Canada, up $25-$40/mt from last report. UAN-32 pricing was higher as well, to C$940/mt (C$29.38/unit) FOB on a spot basis in Ontario, up from C$895/mt (C$27.93/unit) FOB in late February.

Ammonium Nitrate

Ammonium Nitrate, Brazil, Europe, Market Watch, Western Cornbelt

Western Cornbelt:

LSB raised its ammonium nitrate postings on March 10 to $750/st FOB El Dorado, Ark., $770/st FOB Pryor, Okla., $780/st FOB Lamar, Mo., and $790/st FOB St. Joseph, Mo. Those levels are up $60/st from the company’s earlier prepay offers at $690/st FOB El Dorado, $710/st FOB Pryor, $720/st FOB Lamar, and $730/st FOB St. Joseph.

There were reports as well of new ammonium nitrate offers at the $800/st level FOB Muskogee, Okla.

Europe:

Sources said some ammonia producers will continue to operate to supply ammonium nitrate producers if buyers are willing to pay the accompanying higher price. If there is significant push back, the ammonia producers will shut down, which will impact the ammonium nitrate producers as well.

Brazil:

Ammonium nitrate imports for the first two months of the year were reported at 46,000 mt, down 71 percent from the 160,000 mt imported during the same period in 2021, according to Trade Data Monitor. Russia dominated the market with 45,000 mt.

February imports were at 45,000 mt – all from Russia – compared with February 2021 imports of 85,000 mt.

Ammonium Sulfate

Ammonium Sulfate, Brazil, China, Eastern Canada, Eastern Cornbelt, Market Watch, Northeast, Northern Plains, Thailand, Turkey, U.S. Gulf, Western Cornbelt

U.S. Gulf:

New ammonium sulfate barge trades for March were reported at $620/st FOB NOLA, up from the week-ago $585/st FOB. A full-April trade was reported at $655/st FOB.

Eastern Cornbelt:

Ammonium sulfate prices were firming in the Eastern Cornbelt. Sources reported Cincinnati pricing early in the week at $630-$645/st FOB, but some suggested levels were closer to the $700/st FOB level by the end of the week, with $700/st FOB pricing also reported at Ottawa, Ill.

In the Great Lakes region, new offers were reported as high as $725-$735/st FOB.

Western Cornbelt:

The ammonium sulfate market ranged broadly at $630-$700/st FOB in the Western Cornbelt, depending on location and time of the week, with reports of St. Louis pricing hovering in the $660-$700/st FOB range by the end of the week. Sources reported the Catoosa/Inola market at the $665-$670/st FOB level on March 9-10.

Northern Plains:

Granular ammonium sulfate prices were reported at $650-$660/st FOB St. Paul for the last offers, with reports of new reference pricing FOB Sioux City, Iowa, as high as $715/st FOB. Delivered tons in North Dakota were confirmed at $670-$695/st for new spring sales, up from $650-$660/st DEL last week.

Northeast:

The granular ammonium sulfate market firmed to $655/st FOB or higher in the Northeast, with the low confirmed at East Liverpool at midweek.

Eastern Canada:

The ammonium sulfate market firmed to C$909-$920/mt FOB in Eastern Canada, up nearly C$30/mt at the low end of the range. Supply was described as limited, however, with some suppliers currently sold out in mid-March.

China:

Prices for caprolactam-grad amsul got hot this week. Sources reported a movement from near $230/mt FOB to closer to $300/mt FOB. Demand for product in Brazil and Southeast Asia helped push up the price.

With urea prices rising, sources expect to see stronger demand for amsul as a nitrogen substitute in NPK production.

Thailand:

Ammonium sulfate imports in January 2022 were reported at 1,500 mt by Trade Data Monitor. This is a 95 percent drop from January 2021 imports of 29,000 mt.

Turkey:

January ammonium sulfate imports were reported at 149,000 mt by Trade Data Monitor. This is a large increase over the January 2021 imports of 61,000 mt. The main supplier this year was China with 125,000 mt, representing 84 percent of Turkey’s amsul imports.

Brazil:

Ammonium sulfate prices moved to $350-$450/mt CFR, depending on the unloading port. The increase in pricing is accompanied by a growing uncertainty in the market because of limitations of other fertilizers in the global market.The inland price dipped slightly to $525/mt FOB ex-warehouse, a shift that few considered significant.

Demand for amsul in Brazil is expected to step up because of the rising global urea prices. NPK blenders will be looking for a cheaper nitrogen alternative.

Ammonium sulfate imports for the first two months of the year were reported at 869,000 mt by Trade Data Monitor. This is up 14.5 percent from the same period of 2021, when imports were reported at 732,000 mt. China was the main supplier with 61,000 mt. South Korea re-entered the Brazil market after five years of absence.

February imports were pegged at 479,000 mt, up 27 percent from February 2021 imports of 379,000 mt. China accounted for 79 percent of February imports at 378,000 mt. The U.S. was second with 44,000 mt, for 9 percent of the import market.

DAP/MAP

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

Central Florida:

With no new price updates reported for the Central Florida truck market, DAP truck pricing remained at the most recent $785/st FOB level, despite new indications pointing to significant increases in the next round of business. MAP trucks also remained at $785/st FOB.

MAP trucks loading from North Florida firmed to $930/st FOB, players said, up from the last reported $800/st FOB level.

U.S. Gulf:

NOLA barge phosphate prices continued to ratchet higher, sources indicated, primarily due to ongoing geopolitical instability and associated supply uncertainty.

Nearby DAP barges trading at the start of the March 4-10 trading week were quoted as low as $875/st FOB, up from the prior $850/st FOB bottom, while traders reported top-level trades shooting to $975/st FOB by March 9, up $80/st compared to the week-ago $895/st FOB ceiling. Most volume was reported trading in the $925-$975/st FOB range for the period.

MAP barges also moved much higher, despite garnering less attention than DAP. Players noted a floor of $900/st FOB, reportedly achieved at the start of the trading week, while barges reportedly firmed to $960/st FOB later in the period, lifting from the week-ago $895/st FOB top. Most believed further price increases were imminent, likely resulting in values on par with DAP.

Nearby DAP barge pricing was generally reported in the $875-$975/st FOB range, up from $850-$895/st FOB the week before. Sources quoted MAP barges at $900-$960/st FOB, firming from $865-$895/st FOB at last report.

U.S. Exports:

Players reported no new spot phosphate exports out of the U.S. Gulf during the week. Recent reported transactions carried $850-$858/mt FOB pricing. Substantial firming in both the international and domestic U.S. markets hinted at increased values in the next round of business.

Eastern Cornbelt:

Phosphate prices continued to climb quickly in the Eastern Cornbelt, fueled by rapidly firming NOLA barge values. DAP was quoted at $950-$990/st FOB regional terminals at midweek, up from the prior week’s $865-$930/st range, with reports of spot values spiking to $1,000/st FOB or higher by the end of the week.

MAP was pegged at $960-$1,020/st FOB in the region, with the upper levels confirmed late in the week on a spot basis. The Cincinnati market was quoted at $960-$995/st FOB for both DAP and MAP during the week.

In the Great Lakes region, sources reported DAP firming to $1,015-$1,045/st FOB and MAP as high as $1,050/st FOB, depending on location.

Western Cornbelt:

Phosphate prices were up dramatically in the Western Cornbelt. The DAP market jumped to $965-$1,015/st FOB, up roughly $100/st from the prior week, with the St. Louis market pegged solidly at $985-$995/st FOB on March 10. MAP was quoted in the $975-$1,020/st FOB range in the region, depending on location and time of the week, with the St. Louis market pegged at the $990/st FOB level or higher late in the week.

Sources confirmed Catoosa/Inola pricing at $995-$1,015/st FOB for DAP and $995-$1,020/st FOB for MAP on March 10.

“When NOLA DAP may be $1,000/st, they are not going to sell many, if any, tons under that at a terminal,” commented one source.

Northern Plains:

The St. Paul market was quoted at $950-$1,000/st for DAP and $960-$1,000/st for MAP. There were also reports of delivered MAP offers in the $950-$975/st range in western North Dakota.

Northeast:

Phosphate prices in the Northeast reportedly jumped to $1,000-$1,005/st FOB for MAP, with the low reported at Fairless Hills and the high at East Liverpool. That range was up dramatically from the prior week’s $910-$940/st FOB and the late-February range of $815-$840/st FOB. DAP was pegged at a firm $1,000/st FOB East Liverpool at midweek.

In the Southeast, Nutrien’s postings for DAP and MAP firmed to $930/st FOB Aurora, N.C., during the week, up dramatically from the prior week’s $800/st FOB level.

Eastern Canada:

The MAP market jumped to a broad C$1,200-$1,355/mt FOB range in Eastern Canada, depending on supplier and location, up from the late-February price of C$1,160-$1,200/mt FOB. DAP pricing at Montreal was reportedly up a full C$120/mt, to C$1,300/mt FOB.

India:

Sources reported a few small purchases of DAP at $925/mt CFR. The buying is mostly for building reserves for the next application season. Several DAP plants will be down for March, taking scheduled maintenance turnarounds.

China:

Sources calculated new prices for DAP based on the recent sales into India. The new price is pegged at $890-$900/mt FOB, which tightens the range.

Sources expect to keep seeing some tons move out as old contracts are being honored by producers. Customs officials reportedly are becoming more aggressive in ensuring the applications for DAP exports are actually for existing deals rather than new sales.

Brazil:

As supplies of MAP from Russia fell into question and as China indicated its export restrictions will go on longer than expected, buyers became more aggressive in paying for their needs. Sources reported prices now at $1,010-$1,100/mt CFR, depending on the discharge port.

On the heels of a Russian announcement that it would ban sales to “unfriendly countries,” sources noted that Brazil was not on the list. The problem Brazilian importers will continue to face, however, is the global set of sanctions against Russian companies and banks.

Rondonopolis prices moved up to $1,100-$1,200/mt FOB ex-warehouse, with expectations that supplies will soon be tightening.

Imports of MAP for the first two months of the year were reported at 311,000 mt, according to Trade Data Monitor. Imports from the same period in 2021 were reported at 639,500 mt. Russia dominated the 2022 imports with 173,000 mt, down from 272,000 mt during the same period in 2021.

February MAP imports were reported at 204,000 mt, down 41 percent from February 2021 imports of 347,000 mt.

Phosphoric Acid

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

Eastern Cornbelt:

March postings for phos acid remained at $16.50/unit rail-DEL in the Eastern Cornbelt.

Western Cornbelt:

Phos acid prices were steady at $16.50/unit rail-DEL in Iowa, Nebraska, and Missouri for March tons.

Northern Plains:

Phos acid prices for March shipments were quoted at $16.50/unit rail-DEL in Minnesota, Wisconsin, and the Dakotas, up $0.15-$0.30/unit from February.

India:

First-quarter India phosphoric acid contracts were pegged at $1,530/mt P2O5 CFR, a $200/mt increase from $1,330/mt CFR in the prior quarter.

Ammonium Polyphosphate

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

Eastern Cornbelt:

Sources continued to report no spring pricing offers for 10-34-0 in the Eastern Cornbelt.

Western Cornbelt:

The last 10-34-0 prices were reported at $820-$825/st FOB in the Western Cornbelt.

Northern Plains:

Sources continued to report limited 10-34-0 offers at the $910-$920/st FOB level in the Northern Plains for spring tons, with similar prices noted for delivered tons in North Dakota.

Northeast:

The 10-34-0 market strengthened to $940/st FOB in upstate New York for limited tons, up $40/st from last report.

Muriate of Potash

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

U.S. Gulf:

New NOLA potash barge trades were reported in the $730-$795/st FOB range and pushing toward the $800/st FOB mark. The week-ago range was $650-$705/st FOB.

Eastern Cornbelt:

Potash pricing in the Eastern Cornbelt firmed from a low of $745/st FOB Cincinnati early in the week to a high of $825/st FOB on a spot basis by the end of the week. The market FOB Great Lakes terminals was quoted as high as $845-$860/st FOB during the week.

Western Cornbelt:

Potash pricing firmed to a range of $790-$825/st FOB in the region, with both the high and low confirmed in St. Louis, depending on the time of the week. “Literally everything is really ‘call for quote and tons available’,” said one source on March 10. “You might be hard pressed to get a potash quote on any significant volumes this morning.”

Sources confirmed Catoosa/Inola potash tons at the $810-$820/st FOB level late in the week, up from $780-$795/st FOB earlier, with some suppliers reportedly trying to get to $830/st FOB for new offers. Those levels were up significantly from the prior week’s $730-$740/st FOB range.

Northern Plains:

Sources quoted new potash offers at $790-$820/st FOB St. Paul. The last prices FOB Saskatchewan mines for 2Q tons were reported at $720-$730/st after netbacks, depending on grade and destination. No current delivered potash prices were confirmed in the Northern Plains in early March.

Northeast:

Potash pricing firmed to $750-$790/st FOB in the Northeast for limited prompt or 2Q tons, with the low confirmed at East Liverpool and the high at Fairless Hills. Delivered tons were reported at $760-$800/st in the region.

Eastern Canada:

The potash market remained at C$1,040-$1,056/mt FOB in Eastern Canada for prompt or 2Q tons, unchanged from last report.

Brazil:

The threat of losing MOP supplies from Russia and Belarus moved prices up in Brazil. Reported deals came in at $920-$1,100/mt CFR. Sources said by the end of the week, nothing under $1,000 mt was under discussion.

The vessel line up shows about 1.3 million mt of MOP already on its way to Brazil. Russian product accounts for about a quarter of the tonnage. If the global sanctions against Russia and the upcoming sanctions against Belarus are observed, Brazil will have lost almost two-thirds of its normal MOP purchases.

Rondonopolis prices moved to $1,070-$1,170/mt FOB ex-warehouse. Sellers are telling buyers they will not make forward sales. Any purchase has to be hauled away at the time of sale.

MOP imports during the first two months of the year came in at 1.7 million mt, according to Trade Data Monitor. The amount is slightly down from the 1.8 million mt imported during the same period in 2021.February 2022 MOP imports were reported at 946,000 mt, down from 998,000 mt in February 2021.

Thailand:

January MOP imports were reported at 42,000 mt by Trade Data Monitor. This is down 44 percent from January 2021 imports of 75,000 mt. The tonnage was spread out almost equally among four supplying countries.

Sulfur

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

Tampa:

Genscape reported normalizing production levels from the 102,000 barrel/d coker at BP’s Whiting, Ind., refinery on March 4. Reduced activity had been observed from the unit since March 2.

Multiple unit shutdowns were reported from the Phillips 66 Wood River, Ill., refinery on the evening of March 3. Included in the shutdown were the 62,000 barrel/d CR-1 catalytic reformer (CRU) and a 16,000 barrel/d coking unit. Decreased activity was noted from the 19,000 barrel/d CR-3 CRU one day later, on March 4.

Phillips restarted a 23,000 barrel/d alkylation unit at its Ponca City, Okla., facility on March 5 following a Feb. 28 shutdown of the unit. The plant’s 100,000 barrel/d No. 1 CTU crude distillation unit (CDU) and an associated 39,000 barrel/d vacuum distillation unit (VDU) were noted offline since Feb. 23. The plant’s 27,000 barrel/d No. 2 CRU was restarted on March 1 after going offline on Feb. 25.

Elevated flaring was reported on March 9 at the BP/Cenovus refinery in Toledo, Ohio. The flaring was observed in conjunction with reduced furnace stack activity at the facility’s 120,000 barrel/d Crude 1 CDU.

Tampa molten sulfur contracts were reported at $282/lt CFR for the first quarter. Players generally expect rising prices in the second-quarter contract.

U.S. refinery utilization moved up for the week ending March 4, according to the Energy Information Administration (EIA). Refiners ran at 89.3 percent of nationwide capacity for the period, a 1.6 point increase from 87.7 percent reported one week earlier. Run rates for the current week remained ahead of both the year-ago 69.4 percent and the 84.0 percent five-year average.

Despite the increased utilization rate, daily crude inputs moved 21,000 barrels/d lower, the EIA said, to an average 15.377 million barrels/d for the week, down from 15.398 million barrels/d posted previously.

U.S. Gulf:

Genscape reported the shutdown of a 70,000 barrel/d hydrocracker at Marathon’s Galveston Bay, Texas, refinery on March 5 following a bout of declining activity levels first observed on Feb. 28. The unit was previously offline Feb. 4-23 due to a cold weather-related power outage.

A 116,000 barrel/d CDU and a 41,000 barrel/d VDU were reported going offline on March 7 at the Chevron Corp. refinery in Pasadena, Texas.

Flaring activity was reported from the 105,000 barrel/d HCU-2 hydrocracker at the Motiva Port Arthur, Texas, plant on March 7. The flaring coincided with a process upset filed with the Texas Commission on Environmental Quality (TCEQ), according to Genscape.

Increased heating and scrubber activity was noted on March 7 from an 80,000 barrel/d fluidic catalytic cracking unit (FCC) at Valero’s Port Arthur refinery. Activity at the unit was halted on March 9, Genscape said. Genscape reported the unit offline since Jan. 17 as part of a planned turnaround.

Gulf sulfur pricing was noted firming to the $340-$350/mt FOB range, up from $300-$305/st FOB in the prior report. Trading rumored above $400/mt FOB went unconfirmed on March 10.

Brazil:

Recent Brazil spot imports were heard lifting to the $390-$395/mt CFR range, up from $357-$360/mt CFR reported previously.

Vancouver:

Vancouver values were reported climbing to $350-$355/mt CFR during the week, an increase from $320-$340/mt FOB reported previously.

Alberta:

Alberta sulfur netbacks were indicated in a wide $167-$285/mt FOB range for the period, lifting from $167-$270/mt FOB at last report.

West Coast:

Genscape reported a sulfur recovery unit shutdown at the PBF Energy refinery in Torrance, Calif., on March 6. A hydrogen plant was also reported going offline at that time. Unspecified maintenance is scheduled at the facility in the second quarter.

West Coast prills were indicated in the $350-$355/mt FOB range, in line with Vancouver. Contracts for molten sulfur loading from West Coast locations were quoted at $230-$245/lt FOB.

China:

China imports were reported jumping to $400-$405/mt CFR due to mounting global instability and firmer March offer levels reported out of the Middle East. The market was previously noted in the $360-$370/mt CFR range.

ADNOC:

March offers from the Abu Dhabi National Oil Co. were noted lifting to $335/mt FOB Ruwais, a $15/mt increase from February’s reported $320/mt FOB offer.

Qatar:

Prilled sulfur loading from Qatar was noted at $333/mt FOB Ras Laffan for March, rising $18/mt from $315/mt FOB in the prior month.

Kuwait:

Sources reported March offers from Kuwait at $343/mt FOB, a $28/mt increase from the prior month’s $315/mt FOB level.

Sulfuric Acid

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

U.S. Gulf:

Recent U.S. Gulf values were heard in the $255-$260/mt CFR range, unmoved from the prior report.

Gulf Coast:

Gulf Coast sulacid contracts were noted at $195-$230/st rail-DEL for 2022.

Midwest:

Players called annual Midwest pricing even with the Gulf Coast at $195-$230/st DEL.

West Coast:

West Coast pricing for contract-year 2022 was noted in the $185-$220/st DEL range.

Brazil:

The recent Brazil import market continued to be heard at $270-$275/mt CFR, unmoved from week-ago levels.