Eastern Cornbelt:
May phos acid postings in the Eastern Cornbelt continued at $14.00/unit rail-DEL.
Western Cornbelt:
Phos acid was unchanged at $14.00/unit rail-DEL in the Western Cornbelt for May tons.
Southern Plains:
Phos acid pricing remained at $14.00/unit rail-DEL in the Southern Plains for May tons.
India:
Contracts for phosphoric acid delivered to India were noted at $970/mt P2O5 CFR for the second quarter, off $80/mt from $1,050/mt CFR in the first quarter.
Eastern Cornbelt:
The 10-34-0 market was unchanged at $675-$685/st FOB in the Eastern Cornbelt.
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.
Southern Plains:
10-34-0 slipped to $605-$630/st FOB in the Southern Plains, while the 11-37-0 market remained in the low- to mid-$700s/st FOB in Texas.
US Gulf:
NOLA potash barges were stable at $390-$400/st FOB.
Eastern Cornbelt:
Potash prices in the Eastern Cornbelt dropped again, to $440-$480/st FOB from last week’s $475-$500/st range. “Most terminals are caught up on the supply side,” said one regional contact.
Western Cornbelt:
Potash was pegged at $425-$445/st FOB in the Western Cornbelt, down sharply from last week’s $450-$500/st range, with the St. Louis market reported at $430-$440/st FOB during the week.
Southern Plains:
Potash pricing ranged broadly at $450-$510/st FOB in the Southern Plains, with both the high and low confirmed at Catoosa/Inola, depending on supplier, availability, and time of the week. Delivered potash in central Texas was pegged firmly at the $535/st level.
The last potash postings from Intrepid FOB Carlsbad, N.M, included $515/st for 60% white granular and $525/st for 62% white standard.
South Central:
South Central potash pricing was reported in the $485-$500/st FOB range at mid-month, essentially unchanged from last report.
Southeast:
Potash prices were slipping in the Southeast with the arrival of new cargoes. Most port terminal warehouses were at the $460/st FOB level for new business, down from the prior $470-$480/st range.
India:
Arab Potash Co. (APC) has signed a new six-month supply contract with customers in India, according to a May 14 filing with the Amman Stock Exchange. The company did not disclose the volumes agreed.
APC put the contract price at $422/mt CFR, in line with the new price set by Canpotex and Uralkali in early April for tons shipped through Sept. 30, 2023 (GM April 7, p. 14), and duplicated by ICL Group (GM May 5, p. 13). There were reports in April that APC – as well as ICL – had reached a new supply contract with India’s biggest potash importer, IPL (GM April 21, p. 13).
Meanwhile, Fertilizers and Chemicals Travancore Ltd. (FACT) closed a tender on May 15 for the purchase of 30,000 mt of standard potash, for arrival at Tuticorin Port between June 25 and July 10 (GM May 5, p. 14). Offers were requested to remain valid for 15 days from date of tender opening.
Brazil:
Prices continue to fall, and sources now put the potash price at $350-$390/mt CFR. More deals are being done on a formula basis in the expectation of even lower prices to come. Rondonopolis showed a minor shift down, to $490-$500/mt FOB ex-warehouse.
South Korea:
Trade Data Monitor reported January-April potash imports at 196,000 mt, off 12% year-over-year from 233,000 mt. April imports were pegged at 35,000 mt, down from the year-ago 56,000 mt. Israeli potash accounted for 78% of the imports, sending 27,500 mt. Laos supplied the 7,000 mt balance.
Tampa:
The second-quarter contract price of molten sulfur delivered to Tampa closed at $103/lt CFR, $27/lt below the last-quarter value of $130/lt, a decrease of 20.8%. Reports of both reduced run rates from phosphate producers and planned summer turnarounds at phosphate plants were noted suppressing demand.
US Gulf:
US Gulf prices were unchanged at $80-$90/mt FOB. Sources continued to report minimal demand and growing inventories.
Brazil:
Players reported Brazil spot pricing steady at $110-$120/mt CFR. The market was estimated to have covered 50% of its needs, and some players believe buyers might become active again in the week ahead.
Vancouver:
Vancouver prices continued in the $80-$85/mt FOB range, unmoved from last week, with a lack of demand from China blamed for a slight negative sentiment in the market.
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 estimated at around (-)$12-$33/mt, unchanged from the prior report.
West Coast:
West Coast prills were indicated on par with Vancouver at $80-$85/mt FOB range, steady from last week.
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 remained at $105-$110/mt CFR. Sources cited both a lack of interest from buyers and a buildup of inventories at the ports as keeping the market soft.
ADNOC:
Prilled sulfur produced by the Abu Dhabi National Oil Co. (ADNOC) was posted at $84/mt FOB Ruwais for loading in May, a $31/mt fall from $115/mt FOB in April. The change represented a nearly 27% decline.
Qatar:
May Muntajat solid sulfur cargoes were posted at $86/mt FOB Ras Laffan, sources said, a $24/mt drop from April’s $110/mt FOB.
US Gulf:
There were no changes reported in Gulf price ideas. Sources estimated the market around $65-$80/mt CFR, depending on specification.
Brazil:
There were no changes from last week, leaving estimated prices at $70-$80/mt. A tender awarded by Bunge in Argentina was reported to land within the estimated range for Brazil.
Chile:
No new business was reported. The market remains inactive, with long inventories reported.
Eastern Cornbelt:
Ammonium thiosulfate continued to be quoted in the $360-$400/st FOB range in the Eastern Cornbelt, with the low in Illinois and the high at Cincinnati.
Western Cornbelt:
The ammonium thiosulfate market remained at $340-$370/st FOB in the Western Cornbelt, with the low confirmed at Waterloo, Iowa.
Southern Plains:
The last ammonium thiosulfate offers in Texas were steady at $300/st FOB Houston and Lubbock.
South Central:
The ammonium thiosulfate market inched up to $330-$335/st FOB Memphis, $5/st higher than the previous range.
Cornbelt:
The NPSZ market was pegged at $700-$750/st FOB in the Cornbelt, depending on location.
Southeast:
SOP remained at $770/st FOB in the Southeast for ag grade granular tons, with turf grade reported at the $820/st FOB level in Florida.
Southern Plains:
Intrepid’s last postings for Trio FOB Carlsbad included $380/st for standard, $415/st for granular, $425/st for premium, $430/st for OMRI standard and fine standard, and $465/st for OMRI granular.
Southeast:
The SOP Magnesia market was pegged at the $460/st FOB level in the Carolinas for granular tons.
