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JPMC Inks MOU for Phosphogypsum Recycling at Aqaba

Jordan, News, News Briefs, Phosphate

Jordan Phosphate Mines Co. (JPMC) has signed a Memorandum of Understanding (MOU) to recycle and manufacture phosphogypsum material produced at its Industrial complex in Aqaba and transform it into chemical products, the company announced in a July 11 filing to the Amman stock exchange.

JPMC said recycling manufacturing and “optimally disposing” of this material contributes to the conservation of the environment and achieves the interests of both parties. The producer did not disclose the name of the co-signee.

Recycled manufacturing phosphogypsum material can be used in agricultural activities or in construction work and roads, according to opinions and technical experiments, said JPMC.

The Jordanian company produces DAP and phosphoric and sulfuric acid, as well as aluminum fluoride at its Industrial complex.

Industrial complex production1

Product (mt) 2020 20192
DAP 706,535 550,000
Phosphoric acid 282,000 282,000
Sulfuric acid 862,932 863,000
Aluminium fluoride 10,353 10,000


1 JPMC data
22019 data isrounded

Ammonia

Ammonia, Black Sea, Eastern Cornbelt, India, Market Watch, Middle East, Northwestern Europe, South Central, Southeast Asia, Southern Plains, Tampa, U.S. Gulf, Western Cornbelt

U.S. Gulf/Tampa:

July Tampa ammonia prices continued at $585/mt CFR.

IPL confirmed on July 13 that the Waggaman, La., plant returned to full production on June 1, and is producing at nameplate volumes (see related story).

Eastern Cornbelt:

Ammonia fall prepay prices remained at $635-$650/st FOB in the Eastern Cornbelt, depending on location and supplier. CF was reportedly referenced at $635/st FOB in Illinois and $640/st FOB in Indiana, with other reference prices reported at $645/st FOB Lima, Ohio, and $650/st FOB East Dubuque, Ill.

Western Cornbelt:

Ammonia prepay offers for fourth-quarter shipment were unchanged at $635-$650/st FOB in the Western Cornbelt, with the low confirmed at Palmyra, Mo, and the high at Fort Dodge, Iowa. The prepay market in Nebraska was pegged at the $640/st FOB level for October-December shipment.

Southern Plains:

Fall prepay ammonia offers in the Southern Plains were pegged at $580/st FOB Verdigris and Pryor, Okla., and $600/st FOB Coffeyville, Kan. Gulf Coast terminal pricing was reported at $525-$540/st FOB, with the low at Beaumont, Texas, and the upper end for truck offers FOB Donaldsonville, La.

South Central:

The ammonia market was pegged in the $540-$595/st range FOB terminals in the South Central region, with the low reported for truck offers out of Louisiana production points and the high FOB Memphis for prompt offers. No current offers were reported out of El Dorado, Ark.

Black Sea:

Ammonia prices are steady at $550-$555/mt FOB for the time being, but sources said changes could soon come. Gas prices are reportedly on the rise. At the same time, plants in the area are reportedly ready to shut down for routine maintenance.

Even though the cost of natural gas feedstock is going up, sources reported that an award from OPZ for a two-year tolling agreement for gas and ammonia was signed with DACHEX. Sources said the company is affiliated with Dreymoor.

Russian exports of ammonia for the first five months were up almost 4 percent, at 1.9 million mt from1.85 million mt during the same period last year, according to Trade Data Monitor. The main buyers were Estonia at 425,000 mt, Ukraine at 254,000 mt, and Morocco at 222,000 mt.

May exports this year were cut by more than half, to 344,000 mt from May 2020 exports of 752,000 mt. Ukraine showed one of the most dramatic drops in taking Russian ammonia. May 2021 exports to Ukraine were reported 10,000 mt, down from at 99,000 mt in May 2020.

Middle East:

Ammonia remains tight in the region, with producers focusing on their long-term clients rather than new spot buyers. Rising prices in Asia are pushing up the netbacks in the Arab Gulf. Likewise, another deal into India showed further upward movement in pricing.

The Indian deal of $670/mt CFR showed a netback of $620-$630/mt FOB, depending on the size and urgency of the deals. The Asian business helped confirm the higher end of the range with deals that reflected a netback closer to $630/mt FOB.

India:

FACT closed an ammonia tender on July 13, with no news so far about offers. Other buyers such as PPL and CIL are said to be sending out inquiries far afield from the usual suppliers in the Arab Gulf. Sources said the Indian firms are looking at buying tons from the Black Sea and Egypt. For industry watchers, this indicates the buyers want to buy product and are willing to pay higher prices.

A recent deal into India showed a landed price of $670/mt CFR, which moved up the price another $10/mt. The FACT tender results could show even higher levels if the prices are released.

Southeast Asia:

Reports of ammonia prices of $560-$580/mt CFR for northern China and $550-$570/mt CFR for southern Chinese buyers were dismissed as too low by international traders.These prices, said one trader, reflect deductions for rebates and other discounts that large, long-term buyers often enjoy.

The tightness in the Asian market is expected to keep showing stronger prices. Sources said reduced output by the Mitsubishi plant in Indonesia continues to limit supplies to buyers anxious for more material. The tightness is reflected in increased inquiries from Asian buyers for product from the Caribbean.

Northwest Europe:

More market activity allowed industry watchers to revise their view of the regional ammonia market. Sources now call the market at $570-$600/mt C&F, reflecting a slight lowering of the upper end of the range.

Sources point to the $540/mt FOB currently coming from Baltic suppliers as a basis for pricing out of Europe. At the same time, the Trinidad material finding its way into the Northwest European market is helping set the upper end of the register.

Lastly, sources said the steady but high prices out of the Black Sea and North Africa are providing a solid floor, leaving buyers with little support in their efforts to push back against the rising prices.

Urea

Brazil, China, Eastern Cornbelt, India, Indonesia, Market Watch, Middle East, Russia, South Central, Southeast, Southern Plains, U.S. Gulf, Urea, Western Cornbelt

U.S. Gulf:

The NOLA granular urea barge range tightened to $430-$438/st FOB from the week-ago $429-$439/st FOB.

Eastern Cornbelt:

Urea pricing was quoted at $475-$485/st FOB in the Eastern Cornbelt, down $5/st at the upper end of the range. Both the high and low were reported in the Cincinnati, Ohio, market during the week.

Western Cornbelt:

The urea market was steady at $460-$480/st FOB in the Western Cornbelt, with the low confirmed at Port Neal, Iowa, and the high at Caruthersville, Mo. The St. Louis, Mo., market was pegged in the $470-$475/st FOB range, with the last offers FOB Camanche, Iowa, reported at $475/st.

Southern Plains:

The urea market remained at $490/st FOB Houston, Texas, and $495-$500/st FOB Catoosa/Inola, Okla. Nutrien confirmed that its Borger, Texas, plant is currently in start-up mode after a major turnaround that began on May 3 (GM May 7, p. 41). The plant is expected to return to normal operation by next week.

South Central:

Urea pricing was pegged at $470-$485/st FOB in the South Central region, down $5-$10/st from last report, with the low reported at Memphis, Tenn., and the high confirmed at Arkansas terminals and out of spot Ohio River shipping points in Kentucky. The last reported price FOB Convent, La., was $475/st.

Southeast:

Urea prices in the Southeast were quoted in the $470-$485/st FOB range out of port terminals, down slightly from last report, depending on location.

India:

RCF called the fifth urea tender of the year to close on July 22 with a shipping deadline of Aug. 31. The call came three weeks after the previous tender closed, confirming the view of many in the industry that the market needs to get ready for a series of new Indian tenders every three weeks.

So far this year, India has imported or booked a total of 2.7 million mt. Last year by the end of July, MMTC and RCF had arranged for 2.8 million mt to be imported.

Unfortunately for India this year, sources pointed out that last year’s first semester included at least 2 million mt of urea from a long-term contract with OMIFCO, a contract that has now expired. Sources said the inability of MMTC or RCF to secure 1 million mt or more in each tender so far this year has left the country shy of about 2 million mt.

Also playing against the Indian buyers this year are the higher prices for urea and freight. The average price of West Coast deliveries through July 2020 was $243/mt CFR, with the East Coast at $245/mt CFR. This year for the first four tenders, which only includes tons booked by the end of June, the average price is $415/mt CFR for the West Coast and $414/mt CFR for the East Coast.

With the exception of the May MMTC tender, prices from each tender jumped an average of 12.5 percent. If that pattern continues, the latest RCF tender could see prices of $573/mt CFR for the East Coast and $564/mt CFR for the West Coast. If the jump is closer to the almost 20 percent increase observed in the last tender, then prices would surpass $600/mt CFR.

Closing Date Buying Agency WC Price US$/mt CFR Tender % Difference WC EC Price US$/mt CFR Tender % Difference EC
22-Mar-21 RCF 380.18 25.1 379.87 24.6
4-May-21 MMTC 358.99 (5.9) 356.99 (6.4)
25-May-21 RCF 418.00 14.1 408.88 12.7
24-Jun-21 RCF 501.96 16.7 509.95 19.8

Sources said they see little on the horizon to lower prices. Chinese producers remain hesitant to offer product because of central government pressure to give the Chinese domestic market priority. At the same time, Arab producers are focused on their long-term clients and additional business opportunities in Brazil.

Traders were hesitant to make predictions of where the price will end up once the tender documents are opened. What many agree on, however, is that the price will go up once more.

Middle East:

Urea supplies remain tight even as demand steps up. The most recent deal was earlier this month to an unnamed African buyer, with a netback of $505/mt FOB, which set a new floor for talks. Sources noted that at this level, the price into India for the tender would be $530-$535/mt CFR. For some, that price was seen as the extreme low end of projected prices in the tender to close on July 22.

Issues with production will continue to keep Arab Gulf urea availability limited for the Indian tender. Producers are looking to ensure that their regular, long-term clients are covered before offering tons to India.

The wariness of producers to step in was shown in the last tender, when no producer offered product. Usually, one or two producers will submit offers of small cargoes just to show interest in the event. Sometimes the offers are priced so high that the Indian buyers reject the offers immediately.

The paper market for the Arab Gulf in July is pegged at $490.50/mt FOB for July and $490/mt FOB for August.

Egyptian producers are now asking a minimum of $480/mt FOB for the next round of granular purchases. Sources said some of these deals could be for late-August shipments, but most likely for mid-September.

The current range was set by deals last month for July and August shipment topping off at $475/mt FOB for granular. A prilled urea deal was recently concluded at $465/mt FOB.

The demand for Egyptian urea remains strong in Europe and Africa. Some Egyptian product might also be considered for an Indian tender, depending on the final tender price. The Egyptian paper market is reported at $477.50/mt FOB for July and August.

Abu Qir reported that it will be revamping one of its granular urea units. Under an agreement signed with Thyssenkrupp Fertilizer Technology, the work will raise the daily rated capacity from the current 2,000 mt to 2,500 mt. Work is expected to be completed in 2025.

China:

The threat of an export duty continues to hover over producers thinking about selling their product offshore. The possibility is being seriously considered, sources said. The government is pressuring the urea producers to make sure there is enough urea at lower prices for the domestic market before they move to take advantage of the hot global market.

The possibility of an export duty could lead producers and traders to be hesitant about offering too many Chinese tons in the July 22 RCF tender.

Production of urea is expected to step up as more coal and natural gas are made available in the country for power generation. Earlier drains on the power grid prompted the government to require factories of all types to cut back on their use of electricity in order to avoid blackouts due to extensive use of air conditioners during a recent heatwave.

Even with increased production, sources said urea prices are not expected to come off. Strong global demand is expected to take the producers into September, when the domestic market once again kicks in. Even then, sources said, because of the pressure of the government in favor of domestic sales over international ones, some domestic distributors may use the off season to build up reserves to sell once the local demand kicks in.

Reportedly, producers are telling potential buyers that the floor is $475/mt FOB. However, a report circulated that a granular cargo from China was sold to a Chilean buyer just under $475/mt FOB. This would fit in with what many sources have been calling the market, despite limited offshore deals.

Sources said there is really not much difference in pricing between prills and granular into the global market. Traders pointed to a prilled urea deal last week that went for $470-$475/mt FOB.

As traders review their options for offers into the RCF tender, availability from China remains a major topic of discussion. Sources said so far there does not seem to be a lot of material ready for shipment to India under a new tender. About 200,000 mt is estimated in the bonded warehouses in China ready for export.

However, some of that tonnage is already earmarked to cover awards from the most recent RCF tender. Some sources argued that the return to production of urea, combined with the material available at the ports for export, could allow for about 300,000 mt to be offered from China into India.

Indonesia:

Production has resumed at the PIM granular production facility. The plant was shut down in May because of a shortage of natural gas.

No new deals or tenders were reported this week, holding the granular price at $479/mt FOB, even as the producers argue that $490/mt FOB should be the price.

Brazil:

Reaction to the RCF/India tender call has not had time to sink in and affect the Brazilian market significantly. The price at Paranagua is now pegged at $500-$525/mt CFR, representing a modest increase.

What is hitting buyers are the limited tons available at Paranagua and other ports, which, in turn, leads to shortages inland. Even with reduced availability, sources said there is high demand for trucks to load whatever fertilizer is available at Paranagua for shipment inland. This demand is running up the price of freight to the regional distributors.

The Rondonopolis market appears to have stabilized as buyers look for small quantities on an “as needed” basis. Sources said the price is right at $615/mt FOB ex-warehouse, which represents a movement down on the top end of the previous range and a slight increase on the lower end.

Russia:

Urea exports for the first five months of the year were down slightly, to 2.8 million mt from 2.9 million mt during the same period last year, Trade Data Monitor reported. The top buyer of Russian urea for the period was Brazil at 554,000 mt, followed by Finland at 459,000 mt, Switzerland at 345,000 mt, India at 167,000 mt, and Mexico at 133,000 mt.

May 2021 exports of urea were down almost 30 percent, to 459,000 mt from 645,000 mt in May 2020. The single biggest buyer in May was Brazil at 125,000 mt.

UAN

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

U.S. Gulf:

CF was reported to have come out with its fill program on July 14 at $285/st FOB NOLA equivalent. Most sources pegged the market at that number, up from the earlier $270-$280/st FOB.

Nutrien confirmed a forward sale at $310/st FOB NOLA equivalent for October, which the company noted is $30/st above its earlier Q3 summer fill price.

Eastern Cornbelt:

CF on July 14 announced a UAN-32 fill program for Q3 shipment, with pricing at $310/st ($9.69/unit) FOB Mount Vernon, Ind., $312/st ($9.75/unit) FOB Jeffersonville, Ind., and $315/st ($9.84/unit) FOB Cincinnati and Kingston Mines, Ill.

Delivered barge quantities under the program were reported at $315-$320/st on the Illinois River and $320/st on the Upper Mississippi River, which sources said nets back to a $285/st FOB NOLA equivalent.

The last prompt UAN-32 business was reported in the $335-$355/st ($10.47-$11.09/unit) FOB range in the Eastern Cornbelt, with the low confirmed at Seneca, Ill. “Demand is slowing down due to the corn being too tall to sidedress,” commented one regional source.

Western Cornbelt:

The last prompt business for UAN-32 was reported at $345-$355/st ($10.78-$11.09/unit) FOB in the Western Cornbelt.

CF launched a fill program on July 14, with offers at $305/st ($9.53/unit) FOB Port Neal and $310/st ($9.69/unit) FOB St. Louis. Koch was reportedly out with a fill program as well, with prices reported at $310-$315/st ($9.69-$9.84/unit) FOB Fort Dodge and Beatrice, Neb.

Southern Plains:

Sources reported a wide range of UAN-32 pricing in the Southern Plains at mid-month, depending on location and time of shipment.

Prompt UAN-32 pricing was quoted at $340-$350/st ($10.63-$10.94/unit) FOB production points in Oklahoma and Kansas. Continued strong sidedress demand in the Texas Panhandle, along with tightening supply, reportedly pushed terminal prices in that location up to $370/st ($11.56/unit) FOB for immediate shipment, however.

“Wheat is harvested and farmers are planting soybeans and milo, a high consumer of nitrogen,” said one source. “It’s a little unusual to see milo being planted as a second crop, as high commodity prices drive farmers to different practices.”

On July 14, CF launched a UAN-32 fill program for 3Q shipment, with offers reported at $300/st ($9.38/unit) FOB Verdigris and $305/st ($9.53/unit) FOB Woodward, Okla. Koch’s fill offer was reported at $315/st ($9.84/unit) FOB Dodge City, Kan.

South Central:

The UAN-32 market was quoted at $340-$350/st ($10.63-$10.94/unit) FOB regional terminals for the last prompt offers, with the lower end of the range at Memphis and the high reported by Kentucky sources out of spot Ohio River locations. CF’s July 14 UAN-32 fill program included offers at $285/st ($8.91/unit) FOB NOLA equivalent and $310-$315/st ($9.69-$9.84/unit) FOB Ohio River terminals.

Southeast:

While UAN-32 pricing out of Wilmington, N.C., and other port terminals in the region remained at the $325/st ($10.16/unit) FOB level for prompt tons, sources said fill offers were circulating at the $290-$300/st ($9.06-$9.38/unit) FOB level out of Georgia terminals during the week.

Russia:

Russian exports of UAN for the January-May 2021 period were down about 4 percent, to 789,000 mt from 823,000 mt during the same period in 2020, according to Trade Data Monitor. The U.S. was the main buyer this year at 618,000 mt.

May exports crashed about 63 percent, to 140,000 mt from 380,000 mt in May 2020. Exports to the U.S. dropped about 72 percent, to 95,000 mt from 336,000 mt in May 2020.

It was also in May when CF Industries began complaining about the alleged dumping of Russian UAN on the U.S. market. Those complaints were followed up in June with an official request to the U.S. Department of Commerce and International Trade Commission to investigate the charges (GM July 2, p. 1).

Ammonium Nitrate

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

Western Cornbelt:

Ammonium nitrate pricing was reported at the $420-$430/st FOB level in the Western Cornbelt for the last offers.

Southern Plains:

The ammonium nitrate market in mid-July was quoted at $420/st FOB Muskogee, Okla.

South Central:

The latest ammonium nitrate prices were quoted at $365/st FOB Yazoo City, Miss., down $20/st from the last reported offers. Upriver terminals were pegged at the $415/st FOB level, where tons are available.

Russia:

Russian exports of ammonium nitrate for the first five months of 2021 were up 24.4 percent, according to Trade Data Monitor, to 1.5 million mt from 1.2 million mt during the same period last year. Brazil was the main buyer this year at 675,000 mt, representing 46 percent of Russian exports during the period.

May 2021 ammonium nitrate exports were down about 13 percent, to 248,000 mt from 285,000 mt in May 2021. Brazilian buyers took 155,000 mt, or 62.5 percent of the exports in May this year.

Ammonium Sulfate

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

U.S. Gulf:

Ammonium sulfate barges continued to be called flat at $300/st FOB.

Eastern Cornbelt:

The ammonium sulfate market remained in the $320-$350/st FOB range in the Eastern Cornbelt, depending on location, with the low confirmed at Cincinnati. Sources pegged the Ottawa, Ill., market firmly at the $340/st FOB level at mid-month.

Western Cornbelt:

Ammonium sulfate prices were unchanged at $320-$350/st FOB in the Western Cornbelt, with the low at St. Louis and Camanche and the high at Sioux City, Iowa. The Caruthersville market was pegged at the $345/st FOB level at mid-month.

Southern Plains:

Granular ammonium sulfate pricing was pegged at $285-$310/st FOB in the Southern Plains, down $5/st from last report, with the high reported at Catoosa/Inola. Sources pegged the Houston/Freeport, Texas, market in the $285-$300/st FOB range at mid-month.

South Central:

Ammonium sulfate prices continued to range broadly in the South Central region, from a low of $295-$300/st FOB Memphis to a high of $345/st FOB Little Rock, Ark.

Southeast:

Granular ammonium sulfate remained at $300/st FOB Hopewell, Va., with mid-grade referenced at $280/st FOB and standard at $260/st FOB Hopewell. The last postings from IOC included $325/st FOB Tampa, Fla. Delivered pricing in Florida was unchanged at $290/st for standard and $340/st for granular.

China:

Sources reported some small deals at $200/mt FOB or slightly lower for caprolactam grade amsul. Mostly small quantities have been sold in the region this week, with delivered prices confirming a netback to China of $195-$200/mt FOB.

Brazil:

The landed price of granular amsul at Paranagua is moving up with the higher urea prices. Sources said the material is now pegged at $310-$325/mt CFR, up $10-$25/mt from last week.

Sources said the limited material available at Paranagua is being snapped up. One report was that while supplies are tight, buyers can still get what they need in a timely manner.

The inland buyers are also facing higher prices. Sources quoted the Rondonopolis price at $415/mt FOB ex-warehouse, which reflected the top end of the range last week. Sources outside Brazil said the run-up in pricing is not surprising, given the higher prices for urea. Amsul is being sought as a nitrogen substitute for urea in blending operations.

DAP/MAP

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

Central Florida:

Central Florida DAP postings continued at $620/st FOB for truck-loaded product, steady from the prior report. MAP trucks were quoted at $655/st FOB, also unchanged from one week earlier. MAP loading from Northern Florida was posted at $640/st FOB.

U.S. Gulf:

NOLA barge values for both DAP and MAP edged lower during the week.

July DAP barges were generally noted up to $620/st FOB, while a barge that changed hands early in the week was reportedly valued at $630/st FOB, a decline from the prior week’s $635/st FOB ceiling.

A $615/st FOB trading low quoted on July 13 softened into the $600-$610/st FOB range on July 14, sources said. As a result, the NOLA DAP market for the trading week was quoted at $600-$630/st FOB, down from $605-$635/st FOB during the previous week.

Nearby MAP barges were also seen inching lower, to $648-$650/st FOB from the prior week’s $650-$655/st FOB range.

U.S. Exports:

Nothing new was reported on the week’s DAP and MAP Gulf export markets. Recent business included a $660/mt FOB DAP transaction weighing in above 10,000 mt and scheduled to load for Latin America in late July or early August, as well as a 5,000 mt MAP cargo fetching a reported $685/mt FOB and slated to ship in a similar timeframe.

With no new transactions reported, the Gulf DAP export market continued to be reported at $660/mt FOB, with MAP ringing in at $685/mt FOB. Both prices were unmoved from the prior report.

Eastern Cornbelt:

DAP was pegged at $645-$655/st FOB in the Eastern Cornbelt. MAP remained in the $677-$700/st FOB in the region, with the low reported at East Dubuque, Ill. The Cincinnati market was reported at $645-$655/st FOB for DAP and $685-$695/st FOB for MAP in mid-July.

Western Cornbelt:

DAP was quoted at $640-$650/st FOB in the Western Cornbelt in mid-July, with the lower end of the range confirmed at St. Louis and reflecting a $5/st drop from last report. MAP was pegged in a broad range at $675-$700/st FOB, with the high reported at Dubuque, Iowa, and the low at St. Louis.

Southern Plains:

DAP prices remained at $645-$650/st FOB Catoosa/Inola and $660/st FOB Houston. The MAP market was steady at $690/st FOB Houston, while pricing at Catoosa/Inola was reported in a wider range at $685-$700/st FOB, depending on supplier.

South Central:

DAP was pegged at $640-$650/st FOB terminals in the South Central region, depending on location, with few new sales reported to test the market.

Southeast:

Nutrien’s DAP and MAP prices at Aurora, N.C., remained at a firm $640/st FOB in mid-July.

Saudi Arabia:

Phosphates loading from Saudi Arabia remained in the $565-$580/mt FOB range for the week, sources said.

China:

Sources reported sales of DAP to Latin American buyers pushing the netback to $600/mt FOB. The sales are sure to push up the prices offered to buyers in Southeast Asia and India, much to their dismay.

The higher prices are having an impact on traders with awards from tenders. The Bangladesh DAP tender was expected to be supplied from China. However, only two small cargoes were covered before prices from producers moved past the awarded prices.

Buyers in Southeast Asia are facing offers at $620/mt CFR and up. Sources said no deals have been done at that level, so far.

India:

Sources reported that the NFL DAP tender for 100,000 mt had to be scrapped because no one offered tons. Prices are still in the upper-$570s/mt CFR at a time when the government-ordered maximum price is much lower. International traders said India needs the DAP, but at the current rate for product, the importers will lose money on each sale.

Domestic producers are not in much better shape. The cost of inputs, from sulfur to ammonia to phos acid, have all gone so high that the breakeven point in pricing exceeds the government limited maximum.

Indonesia:

Indonesia closed a DAP tender on July 14 with shipments to various recipients.Gresik is to receive three lots of 20,000 mt in the third weeks of August, October, and December.Kaltim is to get two lots of 10,000 mt in August and November, and Pusri is slated for 5,000 mt for the second week of December.

Sources said it would take a brave trader to commit to shipments past September.

Russia:

Russian exports of DAP for the first five months of the year were down about 9 percent, Trade Data Monitor reported, to 599,000 mt from 656,000 mt during the same period in 2020. The largest single buyer so far this year was Mexico at 100,000 mt. May 2021 DAP exports were down 26 percent, to 53,000 mt from 71,000 mtin May 2020.

Exports of MAP for January-May 2021 were up 18 percent, to 1.1 million mt from 940,000 mt during the same period in 2020. Brazil and Estonia dominated the purchases this year with 525,000 mt and 321,000 mt, respectively.

May 2021 exports of MAP were up 74 percent, to 343,000 mt from 197,000 mt in May 2020. Brazil dominated the May 2021 purchases with 245,000 mt.

Brazil:

More MAP has been showing up at the ports in Brazil. Even with the extra tons arriving, the price stabilized at $750-$770/mt CFR. Sources said most of the buying seems to be either deals on a formula basis or in small spot volumes.

The presence of more MAP at the ports appeared to have an impact inland. Sources said the Rondonopolis price has dipped slightly to $820-$830/mt FOB ex-warehouse.

Some of the price stability seems to stem from the fact that most of the summer market buying is done. Dealers are now looking to ensure they have sufficient trucks to move their products to the farmers when demand picks up again in September.

TSP

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

U.S. Gulf:

Sources described a flat TSP barge market for the week, with pricing ideas holding steady from the week-ago $550-$555/st FOB range.

Western Cornbelt:

The TSP market was reported at $580-$595/st FOB in the Western Cornbelt, up $10-$15/st from last report, with the low confirmed at Caruthersville and the high at St. Louis.

South Central:

The TSP market was quoted at $570-$580/st FOB in the South Central region, with the high reported in Arkansas and reflecting $5/st increase from last report.

Phosphoric Acid

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

Eastern Cornbelt:

Phos acid prices were quoted at $13.15/unit rail-DEL in Illinois and Wisconsin, and $13.30/unit rail-DEL in Ohio for July shipments.

Western Cornbelt:

Phos acid pricing for July remained at $13.05/unit rail-DEL in Nebraska, Missouri, and Iowa.

Southern Plains:

Phos acid pricing in the Southern Plains firmed $0.15/unit on July 1, to $13.05/unit rail-DEL in Colorado, Kansas, and New Mexico, and $13.15/unit rail-DEL in Texas, and Louisiana.

India:

Phosphoric acid contracts at India were reported at $1,160/mt P2O5 CFR for delivery in the current quarter, up $162/mt from $998/mt CFR in the prior period.

Ammonium Polyphosphate

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

Eastern Cornbelt:

10-34-0 was unchanged at $580-$600/st FOB in the Eastern Cornbelt for the last reported offers, with the low at Cincinnati.

Western Cornbelt:

The 10-34-0 market remained at $575-$595/st FOB for the last reported business in the Western Cornbelt.

Southern Plains:

The regional 10-34-0 market was steady at $530-$540/st FOB for the last offers, while 11-37-0 pricing in Texas remained in the $600-$620/st FOB range.