All posts by mickeybarb@charter.net

UAN

California, Eastern Cornbelt, Market Watch, Pacific N.W., U.S. Gulf, UAN, Western Canada, Western Cornbelt

U.S. Gulf:

NOLA barges continued to be put at around $300/st ($9.38/unit) FOB. East Coast vessel business continued to be called $345-$350/mt CFR.

Eastern Cornbelt:

The UAN-32 market remained at $325-$345/st ($10.16-$10.78/unit) FOB in the Eastern Cornbelt depending on location, with the low at Mount Vernon and Seneca, Ill., and the high at Burns Harbor, Ind. Sources continued to peg the Cincinnati market at $330-$332/st ($10.31-$10.38/unit) for UAN-32 and $287-$291/st ($10.25-$10.39/unit) FOB for UAN-28.

Western Cornbelt:

UAN-32 was unchanged at $325-$345/st ($10.16-$10.78/unit) FOB in the Western Cornbelt, with high out of Iowa terminals and the low reported at St. Louis.

California:

Sources reported brisk UAN-32 movement in California in late April. The market was pegged at $350-$365/st ($10.94-$11.41/unit) FOB port terminals, with rail-DEL offers quoted at $380-$390/st ($11.88-$12.19/unit) on a spot basis.

Pacific Northwest:

The UAN-32 market remained at $385-$390/st ($12.03-$12.19/unit) FOB terminals in Washington and Oregon, with delivered offers referenced at $430/st ($13.44/unit).

Western Canada:

The Western Canada UAN-28 market was unchanged at C$425-$430/mt (C$15.18-$15.36/unit) DEL, with the low reported in Saskatchewan.

Ammonium Sulfate

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

U.S. Gulf:

Ammonium sulfate barges continued to be called $255-$265/st FOB, with domestic producers seeking $275/st FOB.

Eastern Cornbelt:

The granular ammonium sulfate market remained at a firm $280-$315/st FOB in the Eastern Cornbelt, depending on location, with most domestic producer postings falling in the $305-$315/st FOB range in late April.

AdvanSix on April 29 reported that it was increasing the price of all ammonium sulfate products by $15/st in the Northeast, Southeast, and Mid-Atlantic regions, effective immediately, with the Hopewell, Va., granular pricing firming to $300/st FOB. The company said granular prices in the Great Lakes region were increasing by $10/st at all warehouses.

Western Cornbelt:

Granular ammonium sulfate was pegged at $280-$310/st FOB in the Western Cornbelt, with the low confirmed at St. Louis and Caruthersville, Mo. In the Northern Plains, sources continued to quote the granular ammonium sulfate market at $300-$310/st FOB St. Paul, Minn., and $330-$335/st FOB Sioux City, Iowa.

California:

Ammonium sulfate pricing was steady at $298-$315/st FOB in California, with the upper end reported at Helm. The low was for standard grade FOB Chico and Woodland, with premium grade offers quoted at the $305/st level FOB Stockton, Woodland, and Lathrop.

Pacific Northwest:

The ammonium sulfate market was pegged at $330-$338/st FOB or DEL for granular and $290-$300/st FOB or DEL for standard grade in the Pacific Northwest.

Western Canada:

Ammonium sulfate remained in extremely tight supply in Western Canada, with inventories stretched by a heavy spring application season that is running 7-10 days ahead of schedule in many areas. Provided any tons could be sourced in late April, sources were quoting firm pricing levels at C$510-$515/mt DEL, up C$5-$10/mt from last report.

China:

No major shift in ammonium sulfate pricing was reported in China, although the range did tighten on steady business in Asia. Sources now put the caprolactam market price at $156-$158/mt FOB.

Indonesia:

Gresik called a tender to arrange for its annual supply of ammonium sulfate. Sources said it looks as if the company will be buying about 400,000 mt this year. No price has been confirmed from the tender, but traders speculated that the price is in the $180s/mt CFR.

The apparent tonnage booked for this year repeats levels from 2020 but is significantly lower than the 900,000 mt bought in previous years.

Brazil:

Paranagua remained steady at $200-$210/mt CFR for granular ammonium sulfate in a quiet market. The Rondonopolis market tightened and dropped to $340-$345/mt FOB ex-warehouse. The barter rate at Rondonopolis was pegged at 39 bags of corn for 1 mt of ammonium sulfate.

Thailand:

Imports for the first quarter and the month of March were dramatically up this year compared to the same periods last year, according to Trade Data Monitor. First-quarter imports for 2021 were reported at 58,000 mt against 34,000 mt for the same time in 2020. March imports of 27,000 mt were up significantly from March 2020 imports of 3,000 mt.

DAP/MAP

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

Central Florida:

Central Florida DAP trucks were steady at $550/st FOB for the week. Truck-loaded MAP was quoted at $580/st FOB, unchanged from the prior report.

U.S. Gulf:

DAP barges were noted at $545-$550/st FOB for prompt and loaded barges, drawing a premium as players hoped to squeak last-minute deliveries into the spring application window. Physical barges tagged for forward loading and well outside of spring availability were noted as low as $530/st FOB, ticking up from the week-ago $525/st FOB floor.

DAP paper and futures for the third and fourth quarters were heard spiking to $545/st FOB due to rising corn prices, although activity leveled off toward the second half of the week.

A flurry of physical sales for loading in the June-September period were reported in the $540-$545/st FOB range. Despite the timing, sellers declined to describe the business as part of a summer fill program.

Limited nearby MAP barge activity was observed for the week, with prompt barge offers noted at $560-$565/st FOB. Sources reported limited early-week trading at a $555/st FOB low. Barges loading in June-September were quoted at $565-$570/st FOB.

Nearby NOLA DAP barges were pegged in the $530-$550/st FOB range for the week, shifting from $528-$560/st FOB in the prior report. Nearby MAP barges followed a similar pattern, moving to $555-$565/st FOB from $535-$570/st FOB reported one week earlier.

U.S. Exports:

Limited availability kept the Gulf phosphate spot export market at the last-done $580/mt FOB level, which was achieved on a 7,000 mt DAP cargo sold into the Latin American markets.

Eastern Cornbelt:

DAP was steady at $600-$615/st FOB in the Eastern Cornbelt, depending on location, with the Cincinnati market pegged at $605-$610/st FOB in late April. MAP remained at $620-$635/st FOB in the region.

Western Cornbelt:

DAP pricing in the Western Cornbelt continued to firm on reports of tight supply. The market was quoted at $595-$605/st FOB, up another $10/st from last report, with the low reported at St. Louis. MAP remained at $610-$625/st FOB in the region, depending on location.

California:

The MAP market remained at $690/st FOB or DEL in California. “I think the market is topped out for now,” said one source.

Pacific Northwest:

MAP pricing remained at $677/st FOB Aurora; $680/st DEL in Washington, Oregon, and northern Idaho; $670/st DEL in southern Idaho and Utah; and $660/st DEL in Montana. While some sources claimed limited new offers down to $640/st DEL in late April, that level was not confirmed.

Western Canada:

The MAP market in Western Canada was unchanged at C$945-$955/mt FOB and $950-$960/mt DEL. “MAP supply is expected to be tight through spring,” said one source.

Saudi Arabia:

The Saudi Arabia DAP market was reported at $535-$545/mt FOB, compared with $530-$550/mt FOB the previous week.

India:

Demand for DAP is picking up in India, but sources said prices have slipped to the low-$560s/mt CFR. At the same time, tenders were issued to nail down minor quantities, which could be used as a basis for negotiations for larger tons.

RCF will close a DAP tender on May 6 for 56,000 mt of dark DAP to be delivered to an East Coast port, and 50,000 mt of white DAP for a West Coast delivery.

Another tender closes on May 4 for a total of 60,000 mt of DAP or MAP and 20,000 mt of TSP. The DAP/MAP purchases are broken into three shipments of 20,000 mt each. The first lot is to be shipped 30 days after the purchase order is issued. The second lot is slated for June, and the third lot of 20,000 mt is in August.

Sources said the country needs phosphates. The dramatic increase in the phos acid price last week, said sources, will make domestic production more difficult and put more emphasis on imports.

China:

Prices for DAP remain steady in the $530s/mt FOB. Sources said even as demand steps up in India and Pakistan, producers seem willing to make deals that hold the price steady to ensure sales.

Brazil:

Buyers are arguing that prices for MAP should be coming off as demand slackens, but the level remains at $605-$615/mt CFR at Paranagua. The range seems to include a slight discount for Chinese MAP compared to the Russian and Moroccan product.

Prices have come down about $5/mt in Rondonopolis, to $725-$747/mt FOB ex-warehouse. Sources said the difference is related more to currency and some supply and demand fluctuations rather than to a hard trend for lower prices.

The barter rate for 1 mt of MAP at Rondonopolis remains steady at 37 bags of soy. The rate in Southern Goias is put at 34.72 bags of soy or 47.5 bags of corn.

Phosphoric Acid

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

Eastern Cornbelt:

Phos acid pricing was steady at $13.45/unit rail-DEL in Illinois and $13.60/unit rail-DEL in Ohio for April shipment.

Western Cornbelt:

Phos acid pricing was unchanged at $13.35/unit rail-DEL in Nebraska, Missouri, and Iowa for April tons.

California:

The phos acid market remained at $14.00/unit rail-DEL in California, with MGA referenced at the $14.20/unit level FOB Lathrop and El Centro.

Pacific Northwest:

April phosphoric acid postings were quoted at $13.50/unit FOB Pocatello, Idaho, with rail-DEL offers ranging from $14.00-$14.15/unit in the Pacific Northwest, depending on supplier.

India:

Second-quarter contract talks between Indian buyers and sellers in North America remained in progress, sources confirmed. Despite the lack of a settlement, pricing was widely expected to eventually fall in line with OCP’s previously announced $998/mt CFR contract level.

For now, the market remained in a wide range at $795-$998/mt P2O5 CFR due to the lack of seller agreement.

Ammonium Polyphosphate

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

Eastern Cornbelt:

10-34-0 was unchanged at $560-$590/st FOB in the Eastern Cornbelt.

Western Cornbelt:

The 10-34-0 market was quoted at $565-$595/st FOB in the Western Cornbelt, depending on location.

California:

The 10-34-0 market was quoted at a firm $611-$617/st FOB in California, with the 11-37-0 market pegged at $680-$685/st FOB for April tons.

Pacific Northwest:

The 10-34-0 market in the Pacific Northwest was quoted at $605-$608/st FOB in late April, up slightly from last report. 11-37-0 prices reportedly ranged from $665-$670/st FOB in the region.

Western Canada:

10-34-0 was reported at a firm C$850/mt DEL in Western Canada in late April.

Muriate of Potash

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

U.S. Gulf:

NOLA potash barge trades edged up to $315-$320/st FOB from the week-ago $310-$315/st FOB.

Eastern Cornbelt:

Potash was pegged at $350-$380/st FOB in the Eastern Cornbelt, depending on location, with the lower end of the range reported at Ottawa and Cincinnati. The high reflected dealer reference pricing from Canadian producers, but sources confirmed new deals concluded at that level on a spot basis “as last minute demand continues to emerge.”

Western Cornbelt:

Heavy spring demand pushed the top end of the Cornbelt potash market back up to $375/st FOB for limited Canadian tons. Lower priced offers for imports remained in the $345-$360/st FOB range, depending on location.

Nutrien is rumored to be mulling summer fill ideas for potash, with some market participants expecting offers at current list prices of $380/st FOB Midwest terminals and $345/st FOB NOLA. “Similar to recent phosphate programs, exceptionally strong spring demand and tight global supply and demand points to a minimal summer reset in prices,” said one industry source.

California:

The potash market in California was unchanged at $505/st FOB for 60 percent MOP and $515/st FOB for 62 percent.

Pacific Northwest:

Potash pricing remained at $435-$445/st FOB and $440-$450/st rail-DEL in the Pacific Northwest, depending on grade and location. Potash postings from Intrepid FOB Moab and Wendover, Utah, were steady at $425/st FOB for 60 percent white standard and $430/st FOB for 60 percent white granular.

Western Canada:

Potash pricing was steady at C$530/mt FOB Saskatchewan mines for spring offers.

India:

As reported last week, RCF called a tender for a total of 105,000 mt of MOP to be delivered in three separate lots (GM April 23, p. 15). The tender closes on May 3. The first lot of 35,000 mt is to be shipped within 25 days of the issuance of the purchase order. The second lot is to be shipped in June and the third lot of 35,000 mt is to be shipped in August.

There has been no further announcements by major suppliers of a conclusion of new potash supply contracts with either India or China, following Arab Potash Co.’s (APC) April 18 stock exchange filing that it had agreed to a new contract with Indian Potash Ltd. (IPL) for firm and optional quantities totaling 350,000 mt (GM April 23, p. 15).

In addition to APC, Belarus Potash Co. (BPC) and ICL are the only other suppliers that have gone public with news of a new contract with IPL.

For China, only BPC has formally announced an agreement on a new supply contract with the Consortium of Chinese Buyers (Sinochem, CNAMPGC, CNOOC) for seaborne potash deliveries at $247/mt CFR (GM Feb. 12, p. 16).

However, as reported last week, there has been talk that some of the Chinese contracts and additional Indian supply contract deals have recently been settled at the new India price level of $280/mt CFR. However, there still is no confirmation of this.

Thailand:

MOP imports during the first three months of the year were up dramatically. Trade Data Monitor reported first-quarter 2021 imports of 213,000 mt against 110,000 mt from the same period in 2020. March imports were down 28 percent, to 62,000 mt from 86,000 mt in March 2020.

Brazil:

Prices on the lower end of the Paranagua range for MOP came up $5/mt, to $345-$365/mt CFR, while the Rondonopolis price held steady at $400-$450/mt FOB ex-warehouse. Sources said the supply of MOP in the regional distribution centers argues for lower prices in the coming weeks.

The barter rate for 1 mt of MOP out of Rondonopolis was put at 21 bags of soy or 55 bags of corn, compared with 12 bags of soy or 58 bags of corn last week. The rate in Southern Goias was put at 22.9 bags of soy or 38.8 bags of corn.

Sulfur

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

Tampa:

Molten sulfur contracts on material delivered to Tampa were valued at $192/lt CFR for the second quarter, a $96/lt increase from $96/lt CFR in the first quarter.

U.S. refinery utilization inched higher in the Energy Information Administration’s (EIA) most recent report. Refiners ran at 85.4 percent of capacity for the week ending April 23, a 0.4-point rise from 85.0 percent noted previously. The rate compared favorably to the year-ago 69.6 percent, but lagged the 85.7 percent five-year average.

Daily crude inputs moved up to an average 15.018 million barrels/d, a 253,000 barrel/d rise from the previous week’s 14.765 million barrels/d rate.

U.S. Gulf:

ExxonMobil Corp. on April 23 issued notice of a potential lockout to members of the United Steelworkers (USW) Local 12-243 union starting May 1 if no agreement is reached on an updated employment contract, Reuters reported. The lockout would be the plant’s first since 1998.

Members of Local 12-243, numbering approximately 650 employees, have been working on an expired contract since Feb. 1. A 30-day labor peace period set to expire on April 30 has prevented either side from calling a strike or lockout.

The union’s previous contract was a six-year deal struck in 2015, prior the start of an ongoing expansion project aiming to boost production to 619,000 barrels/d from the current 369,000 barrel/d capacity. Completion of the project is slated for 2023.

Genscape on April 28 reported the successful restart of a 145,000 barrel/d FCC at Marathon’s Galveston Bay, Texas, refinery. The current restart was initiated on April 20 and followed a failed April 5-14 attempt to reach normal operational levels. The unit was taken offline during the mid-February polar vortex.

Total restarted an 80,000 barrel/d CDU and a 52,000 barrel/d VDU at its plant in Port Arthur, Texas, on April 24. Decreasing activity had been reported from the CDU since March 27.

Genscape on April 28 reported activity decreases from the 225,000 barrel/d Pipestill 10 crude section at Exxon’s Baton Rouge, La., refinery. The plant’s 97,000 barrel/d Pipestill 8 crude section also exhibited decreased activity levels for the week.

Price ideas on the Gulf continued to be noted in the $180-$185/mt FOB range, unmoved form the prior report.

Brazil:

Sources described last-done Brazil spot import pricing steady at $209/mt CFR. Second-quarter contract values were quoted at $213-$214/mt CFR, firming from $116-$119/mt CFR in the prior period.

Vancouver:

Last-done Vancouver spot was heard at $170-$180/mt FOB, unmoved from the previous report.

Alberta:

Shell on April 23 successfully restarted a sulfur recovery unit (SRU) at its Scotford Upgrader, which reported shut down on April 22. The unit was previously offline on March 7-9, and March 25 through April 19. Suncor powered down an SRU at its Edmonton refinery on April 24, Genscape reported.

Alberta sulfur netbacks fell in the $65-$110/mt FOB range for the week. The market’s wide range included both molten tons contracted into the U.S. and solid material selling offshore through the Vancouver export market.

West Coast:

West Coast solid sulfur was even with Vancouver at $170-$180/mt FOB, unchanged from one week earlier. Market players quoted second-quarter molten contracts at $140-$155/lt FOB, lifting from $70-$77/lt FOB in the previous period.

China:

Last-done spot sulfur imports at China continued to be called $180-$200/mt CFR. Recent imports rumored to be of Venezuelan origin were described by players as “off-spec” and “contaminated.”

ADNOC:

Abu Dhabi National Oil Co. pricing for May reported slipped $2/mt, to $183/mt FOB Ruwais due to softening freight rates. Offers were published at $185/mt FOB in April.

Qatar:

Muntajat set May prill offers at $183/mt FOB Ras Laffan, a $2/mt decline from $185/mt FOB in the prior month.