All posts by mickeybarb@charter.net

Phosphoric Acid

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

US Exports:

Wet-process phosphoric acid exports firmed 72.9% in February, to 10,253 st from the prior-year 5,932 st. Exports were counted at 208,751 st for July-February, 14.9% above the year-ago 181,720 st.

Eastern Cornbelt:

April phos acid postings in the Eastern Cornbelt were steady at $14.00/unit rail-DEL, unchanged from March.

Western Cornbelt:

Phos acid was unchanged at $14.00/unit rail-DEL in the Western Cornbelt for April tons.

California:

April pricing for phos acid was steady at $14.00/unit rail-DEL in California, with MGA referenced at $14.20/unit FOB Lathrop.

Pacific Northwest:

The phos acid market for April remained at $13.50/st FOB Pocatello, Idaho, and $14.00/unit rail-DEL in the Pacific Northwest, unchanged from March.

India:

First-quarter phos acid contracts were priced at $1,050/mt P2O5 CFR, sources said, down $50-$150/mt P2O5 from $1,100-$1,200/mt P2O5 CFR reported for the prior quarter.

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 $675-$695/st FOB in the Eastern Cornbelt, with the low out of Illinois River terminals and the high reported at Cincinnati.

Western Cornbelt:

10-34-0 remained at $655-$675/st FOB in the Western Cornbelt in early April, with the low in Nebraska and the high in Iowa.

California:

The 10-34-0 market in California was unchanged at $691-$696/st FOB Helm, with 11-37-0 pricing remaining at $753/st FOB El Centro.

Pacific Northwest:

10-34-0 pricing was steady at $680-$685/st FOB in the Pacific Northwest, with 11-37-0 referenced at $745/st FOB Hedges and $725/st DEL in Idaho.

Western Canada:

The 10-34-0 market in Western Canada dropped to $895-$955/mt DEL, down from the previous C$955-$965/mt DEL range.

Muriate of Potash

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

US Gulf:

Sources said no loaded potash barges were available during the week, leaving the last confirmed business in the $370-$380/st FOB NOLA range, with the low confirmed for tons loading later in April. If prompt, loaded tons were available, sources said a seller could name his price. Bids at $390/st FOB were reported at midweek, with no offers.

“I haven’t been able to find a single loaded barge for sale this week,” said one industry contact. “Everyone is awaiting arrival of new material.”

US Imports:

February potash imports softened 5.6% compared to February 2022, slipping to 1.00 million st from 1.06 million st. Imports fell 15.1% st for July-February, to 7.61 million st from the year-ago 8.96 million st.

July-February imports from Canada totaled 6.59 million st, followed by 715,972 st from Russia. Israel shipped 250,511 st to the US during the period.

US Exports:

Potash exports for February moved 241.7% higher year-over-year, to 319,607 st from 93,528 st. July-February exports softened 11.4%, however, to 2.26 million st from 2.55 million st in the prior July-February.

Eastern Cornbelt:

Potash was reported at $435-$475/st FOB in the Eastern Cornbelt, up from last week’s $425-$440/st FOB, with the Cincinnati market pegged at $436-$465/st FOB during the week. “I am hearing potash is very hard to find on the river,” said one source at midweek.

Western Cornbelt:

Potash terminal prices firmed to $435-$470/st FOB in the Western Cornbelt, up $10-$15/st from last week, with the both the low and high reported at St. Louis as the week progressed.

California:

Potash was quoted at $615-$645/st FOB or DEL in California, depending on grade and location.

Pacific Northwest:

The potash market in the Pacific Northwest reverted to January fill pricing for new business, sources said, with the market quoted at $560/st FOB or DEL for 60% MOP and $570/st FOB for 62% MOP. The last postings FOB Moab and Wendover, Utah, included $505/st for 60% white standard and $515/st for 60% white granular.

Western Canada:

Potash pricing in Western Canada was reportedly slipping. New offers for truck tons at the mine in Saskatchewan were pegged in the C$680-$695/mt FOB range, depending on grade, down from the prior C$715-$735/mt FOB range.

Brazil:   

Prices for potash came off slightly, to $400-$430/mt CFR. Excess supply in the country was reportedly exacerbated by April line-ups showing more tons coming in.

The general feeling inland is that potash reserves are abnormally high, putting pressure on prices. Even with this attitude, the price in Rondonopolis only shifted marginally to $540-$560/mt FOB ex-warehouse.

January-March potash imports totaled 2.4 million mt, Trade Data Monitor reported, down from the year-ago 2.5 million mt.

March imports were counted at 1.1 million mt, a 28% increase from the prior-year 880,000 mt. The market’s largest suppliers were Canada with 438,000 mt, followed by Russia with 359,000 mt.

Sulfur

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

Tampa:

Negotiations for the second-quarter contract price of molten sulfur delivered to Tampa moved into full swing. Players noted talks for updated agreements focused in a $100-$110/lt CFR range – off $20-$30/lt from the first quarter’s $130/lt CFR contract – with some suggesting a final price at $105/lt CFR should buyers and sellers opt to meet in the middle.

“Significant” refinery turnarounds in the Midwest and East Coast regions anticipated to run through May threatened to impact near-term supply, some players suggested, while persistent softening reported from a number of international markets in recent weeks was said to weigh on markets such as the US Gulf, a traditional indicator for Tampa.

Operable refining capacity in the US moved lower, according to Energy Information Administration (EIA) data. Capacity utilization for the week ending April 7 was noted at 89.3%, a 0.3 percentage point decrease from 89.6% in the prior report. The rate trailed the year-ago 90.0% while beating the 84.2% five-year average.

Crude inputs also pressed lower. The EIA noted refineries processing an average 15.585 million barrels/d through the period, off 30,000 barrels/d from the week-ago 15.615 million barrels/d.

US Imports:

Sulfur imports fell 15.0% for July-February, to 1.87 million st from 2.20 million st in the prior-year period. Imports moved 19.2% higher in February, however, to 257,066 st from the year-ago 215,628 st.

US Exports:

Exports were nearly flat in February, at 196,274 st compared to 196,340 st in February 2022. July-February exports firmed 36.6%, however, to 1.47 million st from the year-ago 1.07 million st.

US Gulf:

Last-done sulfur pricing out of the US Gulf continued to be noted in a $125-$130/mt FOB range, steady from one week earlier. Based on available offshore netbacks, actual values were indicated closer to $100-$115/mt FOB, sources said, although nothing was believed to have transacted at that level.

Brazil:

Sources noted recent Brazil spot pricing softening to a general $129-$145/mt CFR range, off from $134-$150/mt CFR reported previously.

Contracts for the second quarter were reported settling in a general $135-$140/mt CFR range, below $172-$186/mt CFR in the prior period.

Vancouver:   

Vancouver prices was heard in a $100-$110/mt FOB range for the week, falling $5/mt from $105-$115/mt FOB at last check. Rising freight rates could pressure netbacks below the $100/mt FOB mark in the near-term, some speculated.

Alberta:

Based on both molten sulfur cargoes contracted into the US market and solid tons sold through the Vancouver export market, Alberta sulfur netbacks continued to be indicated in a $15-$60/mt range, unmoved from the prior report.

West Coast:

West Coast prills were indicated on par with Vancouver in a $100-$110/mt FOB range, down from $105-$115/mt FOB at last check.

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 import pricing softened to a $120-$125/mt CFR range, sources said. The market was previously noted at $125-$135/mt CFR.

ADNOC:

Prilled sulfur produced by the Abu Dhabi National Oil Co. (ADNOC) was heard at $115/mt FOB Ruwais for loading in April, falling $19/mt from $134/mt offered in March.

Qatar:

April Muntajat solid sulfur cargoes were posted at $110/mt FOB Ras Laffan, sources said. Offers were reported at $133/mt FOB in March, a $23/mt FOB difference.

Sulfuric Acid

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

US Gulf:

Price ideas in the Gulf continued to be heard at $80-$90/mt CFR, although falling values at Brazil market could signal lower sentiment at NOLA, some suggested.

US Imports:

Sulfuric acid imports firmed 0.6% in July-February, to 2.30 million st from the prior-year 2.28 million st. Imports were up 18.8% in February, to 260,946 st from the year-ago 219,689 st.

US Exports:

February exports moved 10.3% higher, to 14,059 st from 12,740 st in February 2022. July-February totals were up 275.6% year-over-year, to 791,752 st from 210,821 st in the prior period.

Brazil:

A large fertilizer producer was reported purchasing two cargoes in a $65-$70/mt CFR range during the week. As a result, price ideas softened to $65-$90/mt CFR from $75-$100/mt CFR in the prior report, with smaller cargoes expected to track toward the high side of the range.

Ammonium Thiosulfate

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

Eastern Cornbelt:

Ammonium thiosulfate was unchanged at $360-$390/st FOB in the Eastern Cornbelt, with the low reported at Seneca, Ill., and the high at Cincinnati and Terra Haute, Ind.

Western Cornbelt:

The ammonium thiosulfate market was reported at $360-$390/st FOB in the Western Cornbelt, with the low confirmed at Waterloo, Iowa.

California:

Ammonium thiosulfate was unchanged at $430-$440/st FOB in California.

Pacific Northwest:

The ammonium thiosulfate market remained at $375-$377/st FOB and $367-$370/st rail-DEL in the Pacific Northwest.

Western Canada:

The ammonium thiosulfate market dropped to C$465/mt DEL in Saskatchewan for recent offers, down from the C$535/mt DEL level reported in March.