All posts by mickeybarb@charter.net

Muriate of Potash

Brazil, California, Eastern Cornbelt, India, Market Watch, Potash, U.S. Exports, U.S. Gulf, U.S. Imports, Western Canada, Western Cornbelt

U.S. Gulf:

NOLA potash barges gained some steam, rising from $625/st FOB early last week to as high as $655/st FOB this week, and climbing toward week’s end. Sources said the situation in Belarus was starting to hit home and gave the market a near-term boost. Some saw enough stamina to take the market to $670-$675/st FOB.

Nutrien is 90 percent committed for 1Q at $690/st NOLA equivalent and $725/st Midwest terminal. There are rumors that Nutrien and Mosaic may be coming out with new 2Q pricing next week.

U.S. Imports:

December MOP imports totaled 1.07 million st, off 5.8 percent from the year-ago 1.14 million st. July-December volumes were reported at 6.90 million st, however, an 8.8 percent increase over the year-ago 6.35 million st.

July-December imports from Canada were noted at 5.92 million st, rising 9.7 percent from the prior-year 5.40 million st. Buyers added 413,787 st from Belarus, a 17.5 percent increase compared to 352,116 st in 2020. Material sourced from Russia totaled 386,795 st, falling 27.5 percent from 533,612 st recorded through the prior-year period.

Eastern Cornbelt:

The potash market was pegged in a broad range at $690-$720/st FOB in the Eastern Cornbelt. Some Cornbelt sources late in the week talked of a possible $20/st increase from producers in mid-February.

Western Cornbelt:

Potash pricing slipped to $680-$710/st FOB in the Western Cornbelt, with the St. Louis market pegged in the $680-$690/st FOB range. Potash pricing FOB St. Paul was quoted at $700-$710/st FOB at midweek.

California:

Potash pricing remained at $850-$870/st FOB in California for 1Q offers, with the lower numbers reported for 60 percent MOP and the high for 62 percent.

Pacific Northwest:

Potash prices remained at $805-$825/st FOB or DEL for Q1 tons in the Pacific Northwest, with the low confirmed for 60 percent and the high for 62 percent MOP. The last offers from Intrepid FOB Moab and Wendover, Utah, included $775/st for 60 percent white standard and $780/st for 60 percent white granular.

Western Canada:

Sources quoted truck pricing for potash in the C$965-$975/mt range FOB Saskatchewan mines for 1Q offers, depending on grade.

India:

There was still no word this week of awards in RCF’s tender for the supply of 170,000 mt of standard potash that closed on Jan. 28 (GM Feb. 4, p. 15). As previously reported, offers into the tender were heard north of $600/mt CFR. Offers are required to remain valid for 30 days.

FACT closes a tender on Feb. 14 for two 40,000 mt lots of standard potash for delivery to Tuticorin port. The first shipment is required to arrive between March 20-30 and the second between April 20-30 (GM Feb. 4, p. 15).

Brazil:

Sources reported a minor shift upward in the landed price of MOP, to $770-$815/mt CFR. Reportedly buyers and sellers considered the potential loss of Belarus material due to U.S. sanctions. At the same time, reports circulated of Canadian suppliers saying they could increase sales to Brazil, but not at levels that would make up for the lost Belarus product.

Rondonopolis moved up slightly to $890-$932/mt FOB ex-warehouse. Both sides said the price shift was marginal, calling the market stable.

January 2022 imports were reported at 716,000 mt by Trade Data Monitor. This is down 7 percent from January 2021 imports of 770,000 mt. The difference is not seen as significant.

Only Belarus showed an increase in material exported between January 2021 and 2022. The January 2022 imports from Belarus were reported at 201,000 mt, up 14 percent from January 2021. Russia sent 227,000 mt this year, down 3 percent from January 2021. Canadian supplies were down 20 percent, to 117,000 mt for January 2022.

These three countries were responsible for 546,000 mt of the 716,000 mt imported.

Sulfur

ADNOC - Abu Dhabi, Alberta, Brazil, China, Kuwait, Qatar, Sulfur, Tampa, U.S. Exports, U.S. Gulf, U.S. Imports, Vancouver, West Coast

Tampa:

Contracts for molten sulfur delivered to Tampa in the first quarter were reported at $282/lt CFR, an increase of $99/lt from $183/lt in fourth-quarter 2021.

Refining capacity moved higher for the week, the U.S. Energy Information Administration (EIA) reported. Utilization was noted at 88.2 percent of capacity for the period ending Feb. 4, a 1.5 point increase from the previous week’s 86.7 percent rate. The current rate stood above the year-ago 83.0 percent level, but lagged the five-year average of 88.5 percent.

Daily crude inputs were also up at an average 15.577 million barrels/d for the week, a 329,000 barrel/d jump from the prior week’s 15.248 million barrels/d total.

U.S. Imports:

December sulfur imports were noted at 229,462 st, falling 19.0 percent from 283,154 st in the prior year. July-December imports were reported at 1.65 million st, off 11.8 percent from the year-ago 1.87 million st.

U.S. Exports:

December sulfur exports were noted at 167,955 st, up 46.0 percent from the year-ago 115,012 st. Exports totaled 787,992 st in July-December, rising 32.5 percent from the year-ago 594,683 st.

U.S. Gulf:

Freezing temperatures from Winter Storm Landon impacted Gulf refinery operations, starting on Feb. 4.

Reuters reported the shutdown of the 593,000 barrel/d Marathon Petroleum Galveston Bay and the 225,000 barrel/d Valero Energy Texas City refineries on Feb. 4 due to a citywide power outage in Houston, Texas, triggered by the frigid conditions. The power cut came during the area’s second consecutive night of freezing temperatures. The Marathon plant could require weeks to return to full operation, Genscape reported.

Following a brief Feb. 3 outage and a subsequent Feb. 4 restart at the Valero Houston refinery, Genscape reported the shutdown of all monitored units at the facility on Feb. 7, including a 115,000 barrel/d crude distillation unit (CDU), a 65,000 barrel/d fluidic catalytic cracking unit (FCC), a 50,000 barrel/d hydrocracker, and two sulfur recovery units (SRUs). A 95,000 barrel/d CDU and associated 38,000 barrel/d vacuum distillation unit (VDU) were noted shutting one day earlier, on Feb. 6. Valero initiated restart efforts for a number of units on Feb. 8.

The Chevron plant at Pasadena, Texas, was reported fully offline following a multi-unit shutdown on Feb. 5. Several refinery components were noted shutting down earlier in the week due to a boiler outage. Increased activity was noted from several units on Feb. 8.

Operational upsets were also reported from the Marathon Garyville, La., Motiva Port Arthur, Texas, and the ExxonMobil Corp. Baytown, Texas, refinery during or shortly after Landon’s march through the region.

Sources continued to describe recent Gulf price ideas in the $290-$300/mt FOB range, although most agreed that prices would likely push above $300/mt FOB should a transaction conclude today.

Brazil:

With last-done spot tons continuing to be heard at $355-$357/mt CFR, players quoted indications coming off a few dollars for the next round of business. Predictions were generally reported in the $348-$352/mt CFR range, down $5-7/mt from recent transactions.

Vancouver:

Pricing for solid sulfur tons loading from Vancouver moved higher for the week, with values pegged at $300/mt FOB, rising from $280/mt FOB in the prior report.

Alberta:

With Vancouver spot moving up, Alberta sulfur netbacks reportedly firmed to the $167-$230/mt FOB range, up from $167-$210/mt FOB published previously.

West Coast:

Indications on solid sulfur cargoes loading from the West Coast followed Vancouver higher, to approximately $300/mt FOB. First-quarter molten contracts were quoted in the $230-$245/lt FOB range, up from $160-$170/lt FOB in the prior period.

China:

Market watchers noted a second week of quietude in the China import spot market due to the Lunar New Year holiday, calling last-done steady at $335/mt CFR. With a number of international markets now tracking above China’s last-reported number, players generally expected rising values in the next round of business.

ADNOC:

Abu Dhabi National Oil Co. (ADNOC) offers for February were called $320/mt FOB Ruwais, up $20/mt from $300/mt FOB in January.

Qatar:

Solid tons loading from Qatar were heard rising to $315/mt FOB Ras Laffan in February, up $14/mt from $301/mt FOB noted one month earlier.

Kuwait:

Kuwait sulfur offers were quoted at $315/mt FOB for February loading. The market was reported at $300/mt FOB in January, a $15/mt difference.

Sulfuric Acid

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

U.S. Gulf:

Gulf import sulfuric acid price ideas lifted higher, sources said, with last-done pressing closer to the $260/mt CFR mark. Limited availability from Northwest European smelters was noted turning interest toward suppliers in Asia, despite the higher delivered prices.

U.S. Imports:

July-December sulfuric acid imports were noted at 1.79 million st, falling 14.8 percent from the year-ago 2.10 million st. December imports were off 18.7 percent, to 269,775 st from the prior year’s 331,645 st total.

U.S. Exports:

Sulacid exports for December stood at 17,914 st, lifting 85.0 percent from the year-ago 9,683 st. July-December exports were quoted at 186,312 st, up 82.0 percent from the prior-year 102,366 st.

Gulf Coast:

Annual contracts for sulfuric acid delivered by rail to the U.S. Gulf Coast were quoted in the $195-$230/st DEL range for 2022.

Midwest:

Midwest pricing ran even with the Gulf for contract-year 2022, sources said, quoting annual agreements in the $195-$230/st DEL range.

West Coast:

Sources noted West Coast current-year contracts in the $185-$220/st DEL range.

Brazil:

Recent cargoes landing at Brazil continued to be heard at $270-$275/mt CFR, steady from the prior report.

Ammonium Thiosulfate

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

Eastern Cornbelt:

The ammonium thiosulfate market was steady at $600-$630/st FOB in the Eastern Cornbelt, with the low confirmed at Seneca, Ill., and the upper end at Cincinnati. Rail-DEL pricing was pegged at $635-$650/st in the region.

Western Cornbelt:

The last confirmed ammonium thiosulfate business remained at the $600/st FOB level in the Iowa market.

California:

The last confirmed ammonium thiosulfate offers were unchanged at the $440/st FOB level in California.

Pacific Northwest:

The ammonium thiosulfate market was trending higher, with reports of pricing in the Pacific Northwest firming $30/st, to $470-$480/st FOB and $485-$505/st DEL.

Western Canada:

The ammonium thiosulfate market was pegged at the C$825/mt DEL level for March tons in the region, up from C$795/mt at last report.

Sulfate of Potash

California, Market Watch, Pacific N.W., Specialty, Sulfate of Potash, U.S. Exports, U.S. Imports

U.S. Imports:

July-December SOP imports were up 68.9 percent year-over-year, to 90,267 st from 53,455 st. December imports stood at 2,605 st, off 15.6 percent from the year-ago 3,085 st.

U.S. Exports:

SOP exports softened 9.2 percent in July-December, to 28,128 st from the year-ago 30,982 st. Exports totaled 3,150 st for December, a 41.7 percent drop from 5,407 st recorded in December 2020.

California:

The SOP market continued to be quoted at $825-$840/st FOB Stockton for limited tons, with reports of posted warehouse prices as high as $950-$960/st FOB from some suppliers in the state.

Pacific Northwest:

The last SOP prices were reported in the $800-$830/st FOB or DEL range in the Pacific Northwest.