All posts by mickeybarb@charter.net

Ammonium Nitrate

Ammonium Nitrate, France, Market Watch, Western Cornbelt

Western Cornbelt:

The ammonium nitrate market was unchanged at $640-$680/st FOB in the Western Cornbelt for the last reported offers.

France:

Yara on Nov. 22 posted its list prices for February 2022 deliveries of AN 33.5 (YaraBelaExtran33.5) in France, setting the new price at €775/mt bulk CPT, with immediate effect. The new price is a €10/mt increase on its last price posting for January deliveries, announced on Nov. 2 (GM Nov. 5, p. 8). The supplier once again warned that only limited volumes would be available.

Ammonium Sulfate

Ammonium Sulfate, Brazil, California, China, Eastern Cornbelt, Market Watch, Pacific N.W., U.S. Gulf, Western Canada, Western Cornbelt

U.S. Gulf:

New NOLA ammonium sulfate trades were reported at $515-$520/st FOB, up from the week-ago $510/st FOB.

Eastern Cornbelt:

The granular ammonium sulfate market was unchanged at $535-$570/st FOB in the Eastern Cornbelt, depending on location.

AdvanSix on Nov. 22 announced new ammonium sulfate pricing for the Mid-Atlantic region, with postings for limited tons FOB Hopewell, Va., firming to $430/st for standard, $450/st for mid-grade, and $470/st for granular.

Western Cornbelt:

Ammonium sulfate pricing remained at $540-$560/st FOB in the Western Cornbelt in late November.

California:

The California ammonium sulfate market was quoted at $535-$550/st FOB or DEL in late November, depending on grade and location, up from $500-$535/st at last report.

Pacific Northwest:

Ammonium sulfate pricing firmed to $540-$560/st FOB for standard grade and $570/st FOB for granular, with delivered granular pricing pegged in the $570-$575/st range in the Pacific Northwest.

Effective Nov. 16, IRM’s postings in Oregon, Washington, Idaho, Utah, and Montana firmed to $540/st FOB or DEL for WesternStandard, and $570/st FOB or DEL for WesternPremium and Tranzform.

Western Canada:

The ammonium sulfate market in Western Canada was pegged at C$720-$780/mt DEL for limited tons in late November, up C$50-$80/mt from last report.

China:

Sellers of standard grade caprolactam product reportedly are still pushing for $400/mt FOB. Sources said deals this week drew them closer to that amount, with sales reported at $380-$390/mt FOB.

Compacted ammonium sulfate continues to show strength as demand in Brazil and Southeast Asia remains strong. Sources put the current compacted price at $450-$460/mt FOB.

Supplies remain tight because of the overall reduced industrial output in China due to energy limitations and environmental concerns.

Correction: The China ammonium sulfate price for the issue dated Nov. 19 should have read $380/mt, not $430/mt. Green Markets has since learned that the higher price was for compacted product.

Brazil:

Demand remains strong for ammonium sulfate even as supplies from China are limited. Sources put the current price at Paranagua at $500-$545/mt CFR, which reflects a slight downward shift in prices.The inland price remained steady at $640-$660/mt FOB ex-warehouse in Rondonopolis.

DAP/MAP

Africa, Bangladesh, Brazil, California, Central Florida, DAP/MAP, Eastern Cornbelt, India, Market Watch, Pacific N.W., Pakistan, Saudi Arabia, U.S. Exports, U.S. Gulf, Western Canada, Western Cornbelt

Central Florida:

Central Florida DAP trucks were posted at $780/st FOB for the week, steady from the prior report. Truck-loaded MAP remained at $780/st FOB as well, also unmoved from week-ago levels.

MAP loaded to trucks from North Florida continued to be priced at $780/st FOB, sources said.

U.S. Gulf:

Firming prices in the prior week held steady for the holiday-shortened week, despite limited trade volumes.

Recent sales and offers of domestically produced DAP quoted at $740/st FOB set the week’s floor, marking an increase from the prior $720/st FOB bottom. Sources continued to note the top of the prompt range at $745/st FOB, steady from one week earlier.

Most described $760/st as setting the bottom of the domestically produced MAP market for the week, up from the prior $745/st FOB level. Most players noted import material steady at $765-$770/st FOB, with offers pegged up to $775/st FOB on Nov. 23.

Nearby DAP barge pricing was noted at $740-$745/st FOB, above the week-ago $720-$745/st FOB. MAP barges stepped up to $760-$770/st FOB from $745-$770/st at last report.

U.S. Exports:

Mosaic reported a 10,000 mt DAP cargo sold into a single destination in northern Latin America. The tons were reportedly priced at $810/mt FOB, with loading slated for January 2022.

A small amount of MAP included with the transaction was noted fetching $830/mt FOB. Due to the limited volume, that price level was omitted from the current Gulf export range.

Based on reported transactions, the Gulf phosphate export markets firmed to $810/mt FOB, up from $740/mt FOB published previously.

Eastern Cornbelt:

The DAP pricing range strengthened to $760-$775/st FOB in the Eastern Cornbelt, with the Cincinnati market pegged at $760-$770/st FOB early in the week. MAP remained at $795-$810/st FOB in the region.

Western Cornbelt:

DAP pricing was quoted at $760-$780/st FOB in the Western Cornbelt, with the low at St. Louis. MAP remained at a firm $800-$820/st FOB in late November.

California:

MAP pricing was quoted at $900-$920/st rail-DEL or FOB California warehouses, with the upper end reflecting new postings.

Pacific Northwest:

MAP pricing in the Pacific Northwest edged up to $907/st FOB Aurora, Ore., some $17/st higher than early November, with delivered tons pegged at $910/st in Washington, Oregon, and Nevada, and $900/st in Idaho, Utah, and Montana.

Western Canada:

New MAP offers in Western Canada were quoted in the C$1,205-$1,280/mt FOB range, up from the last reported C$1,180-$1,205/mt FOB, with delivered tons pegged in the C$1,250-$1,280/mt range in late November, depending on location.

Saudi Arabia:

Saudi Arabia phosphate exports were noted firming to the $770-$785/mt FOB range, up from $765-$780/mt FOB at last report.

Bangladesh:

Initial reports that only OCP would settle a deal in the BCIC DAP tender were dashed when awards were issued Nov. 23. Sources reported BCIC will now take 170,000 mt from six traders at $975-$1,060/mt CFR liner out.

Offering Company Quantity (mt) US$/mt CFRLO Source
Uttara Traders 40,000 975.00 Jordan
Desh Trading 25,000 1,038.00 Morocco-Egypt-Russia
Bulk Trade Intl. 25,000 1,038.00 Morocco-Egypt-Russia
Mosharaf Brothers 25,000 1,038.00 Morocco-Egypt-Russia
Nazneen Enterprise 25,000 1,038.00 Morocco-Egypt-Russia
Deepa Enterprise 30,000 1,060.00 Tunisia-Egypt-Jordan

The buyer was looking for 200,000 mt in its tender.

As expected, no Chinese tons were offered in the tender because of that country’s restrictions on fertilizer exports.

Pakistan:

Confusion over a deal with OCP cleared up this week as sources confirmed that OCP sold 50,000 mt of DAP to Pakistan at $915/mt CFR for December shipment.Earlier reports suggested the deal was done with an Indian buyer.

India:

No new spot deals were done into India this week. The OCP/Pakistan deal, however, gives an insight into pricing. The reported $915/mt CFR paid by Pakistan would translate to $900/mt CFR given the freight differential, said sources.

There is still demand for DAP in India, and buyers seem willing to pay the higher prices in the market. However, the demand is not as great as what is being experienced on the nitrogen side.

Ethiopia:

An EABC tender for a variety of NPS products found only OCP offering material. No awards have been issued yet.

Commodity US$/mt FOB US$/mt CFRLO Quantity (mt)
NPS+B 660 770 553,000
NPS 650 760 269,000
NPS+Zn 730 840 7,260
NPS+Zn+B 720 830 82,000

Brazil:

The global upward pressure on phosphates due to higher production costs is being felt at the Brazilian ports. Sources said MAP prices have moved up to $850-$890/mt CFR.

Efforts are underway to ease the upward pressure by stepping up domestic production, but in small increments. Media reports noted that Mosaic Fertilizantes has been able to increase its production by 3.1 percent over the past year. The corporate view is that prices will remain high for a bit longer to encourage greater production capacity.

The need for more production was shared by the government. According to the Agriculture Ministry, Brazil will soon launch a 30-year plan to increase domestic production and reduce dependency on imported product.

Inland prices tightened up this week. Sources said the Rondonopolis price is now centered at $1,000-$1,010/mt FOB ex-warehouse.

Phosphoric Acid

California, Eastern Cornbelt, India, Market Watch, Pacific N.W., Phosphoric Acid, Western Cornbelt

Eastern Cornbelt:

Phos acid prices for November remained at $15.40/unit rail-DEL in Illinois and Wisconsin and $15.55/unit rail-DEL in Ohio, up $0.50/unit from October. Nutrien announced a new super phosphoric acid price of $1,600/st P205 DEL, effective Dec. 1.

Western Cornbelt:

The phos acid market for November was quoted at $15.30/unit rail-DEL in Iowa, Nebraska, and Missouri, up $0.50/unit from October.

California:

The phos acid market remained at November pricing levels of $15.55/unit rail-DEL in California, with MGA referenced at $15.75/unit FOB Lathrop. Sources reported no news yet of a price change in December.

Pacific Northwest:

Thephos acid market remained at November pricing levels of $15.05/unit FOB Pocatello, Idaho, and $15.55/unit rail-DEL in the Pacific Northwest.

India:

Phosphoric acid delivered to India was contracted at $1,330/mt CFR for the fourth quarter, up $170/mt from $1,160/mt CFR in Q3. The price applied to tons loading from both Morocco and North America.

Ammonium Polyphosphate

Ammonium Polyphosphate, California, Eastern Cornbelt, Market Watch, Pacific N.W., Western Canada, Western Cornbelt

Eastern Cornbelt:

The 10-34-0 market was pegged at a solid $795-$805/st FOB in the Eastern Cornbelt for limited tons in late November.

Western Cornbelt:

The 10-34-0 market was pegged at a firm $800-$825/st FOB for limited offers in the Western Cornbelt in late November.

California:

The 10-34-0 market remained at $705-$710/st FOB in California, with 11-37-0 quoted at $765-$770/st FOB in the state.

Pacific Northwest:

The 10-34-0 market was steady as at $711/st FOB Hedges, Wash., with 11-37-0 pricing quoted at $770/st FOB Hedges and $750/st DEL in Idaho and Utah.

Western Canada:

The last reported 10-34-0 business remained at the C$1,000/mt DEL level in Western Canada.

Muriate of Potash

Brazil, California, Eastern Cornbelt, Market Watch, Pacific N.W., Potash Muriate, U.S. Gulf, Western Canada, Western Cornbelt

U.S. Gulf:

Potash barges continued to be called flat at $670-$685/st FOB.

Eastern Cornbelt:

The potash market was quoted at $715-$730/st FOB in the Eastern Cornbelt, depending on location, with the Cincinnati market unchanged at $715-$725/st FOB in late November.

Western Cornbelt:

Potash pricing was steady at $715-$725/st FOB in the Western Cornbelt, depending on location, with the low reported at St. Louis.

California:

Potash pricing remained at $695-$705/st FOB for the last reported Q4 offers, with the low for 60 percent and the high for 62 percent MOP.

Pacific Northwest:

Sources reported no new offers circulating for potash, with the last business pegged at the $662-$672/st level FOB regional warehouses for Q4 tons. The last posted potash prices from Intrepid FOB Moab and Wendover, Utah, included $675/st for 60 percent white granular and $670/st for 60 percent white standard.

Western Canada:

Sources said most offers for truck tons of potash had been pulled, with the last prices reported at C$965-$975/mt FOB Saskatchewan mines for Q4 offers.

Brazil:

The Russian agreement to honor all urea commitments to Brazil got MOP buyers hoping that Russia will also step in with some help on the potash field. Sources said buyers remain nervous because of the uncertainty over whether Belarus MOP will be included in the sanctions set by the U.S.

The nervousness, however, has not yet translated to a major shift in prices. Sources pegged the import price at $795-$830/mt CFR. This reflects a minor fluctuation on the lower end of the range from previous weeks.

Limited business this week has the inland market at Rondonopolis pegged at $930/mt FOB ex-warehouse.

Sulfur

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

Tampa:

Marathon successfully restarted the 99,000 barrel/d fluidic catalytic cracking unit (FCC) at the company’s Catlettsburg, Ky., refinery on Nov. 19, Genscape reported, after increased activity had been underway since Nov. 13. The unit was taken offline for planned work on Oct. 10.

Molten sulfur delivered to Tampa was contracted at $183/lt CFR for the fourth quarter, a $12/lt decline from $195/lt CFR in the prior period.

Due to the holiday-shortened week, updated refinery utilization data from the U.S. Energy Information Administration (EIA) was not available at press time. Nationwide capacity was tagged at 87.9 percent for the week ending Nov. 12, while crude inputs averaged 15.397 million barrels/d through the period.

U.S. Gulf:

Genscape reported the Nov. 18 restart of an 88,000 barrel/d FCC and a 12,000 barrel/d hydrotreater at the Motiva refinery in Port Arthur, Texas. Both units had been offline since Oct. 19 for unplanned repairs. The plant’s 105,000 barrel/d HCU-2 hydrocracker was noted shutting down on Nov. 20 during a process upset. Activity at the unit began ramping up on Nov. 21, ahead of a successful restart on Nov. 22.

The Chevron Corp. refinery at Pascagoula, Miss., restarted a 151,000 barrel/d VDU on Nov. 21. The unit was reported going offline on Nov. 13.

Marathon experienced the shutdown of a 72,000 barrel/d crude distillation unit (CDU) and a 17,000 barrel/d vacuum distillation unit (VDU) at its refining facility in El Paso, Texas, on Nov. 19. Both components were successfully restarted on Nov. 20. The units were previously restarted on Nov. 17 after being knocked offline on Nov. 13 during a power outage.

Gulf export pricing continued to be reported in the $200-$210/mt FOB range, unmoved from the prior week. Most players said they expected the market to firm to the $230s-$240s/mt FOB in the next round of business.

Brazil:

Recent Brazil import pricing was reported in the $279-$290/mt CFR range, steady from one week earlier. Brazil fourth-quarter contracts firmed to $234/mt CFR, rising from $221-$223/mt CFR in the prior period.

Vancouver:

Last-done pricing out of Vancouver continued to be heard at $200-$205/mt FOB, steady from the prior report. Sources voiced expectations of a sizable increase in the next round of trading.

Alberta:

Molten and prilled sulfur loading from Alberta were understood to net back $68-$135/mt FOB to suppliers.

West Coast:

West Coast solid sulfur pricing continued to be indicated at $200-$205/mt FOB. Molten sulfur contracts for the fourth quarter were called $160-$170/lt FOB, rising from $150-$155/lt FOB in Q3.

China:

Sources reported last-done China spot pricing in the $263-$265/mt CFR range, unmoved from the previous week.

ADNOC:

Solid sulfur offers from the Abu Dhabi National Oil Co. were reported at $230/mt FOB Ruwais for loading in November. The market was previously quoted at $193/mt FOB, $37/mt below the current-month level.

Qatar:

November prill offers were heard at $226/mt FOB Ras Laffan, rising $34/mt from $192/mt FOB in the prior month.

Kuwait:

Kuwait prill prices rose to $226/mt FOB for November loading, up $35/mt from $191/mt FOB in October.

Sulfuric Acid

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

U.S. Gulf:

No changes were heard in the Gulf sulfuric acid vessel market. Price ideas were previously reported in the $245-$250/mt CFR range.

Gulf Coast:

U.S. Gulf Coast contracts were quoted in the $85-$110/st DEL range for 2021 agreements. Players generally predicted a move above $200/st DEL for updated 2022 agreements.

Midwest:

Sources noted Midwest pricing even with the Gulf Coast at $85-$110/st DEL for the 2021 contract year.

West Coast:

Tons delivered to the West Coast were reported at $100-$130/st DEL for 2021 deals.

Brazil:

Recent Brazil spot price ideas were reported at $275-$280/mt CFR, steady from one week earlier.

China:

An unnamed 300,000 mt/y aluminum smelter located in China’s southern Yunnan province halted all production following an electrolytic cell fire on Nov. 18, Shanghai Metals Market reported. Both the accident’s cause and a timeline to return to production were unavailable on Nov. 23. Aluminum prices on the London Metal Exchange climbed 2.5 percent on the day following the incident, Reuters reported.

China metals producer Daye Nonferrous has been forced to delay the commissioning of a new 400,000 mt/y copper smelter due to difficulty procuring necessary components from international producers, Fastmarkets reported. The project, located in Huangshi, Hubei province, was previously slated for commissioning before the end of 2021. Daye is now targeting a mid-2022 start of production.