All posts by mickeybarb@charter.net

Ammonium Sulfate

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

US Gulf:

Players said most sellers were moving toward IOC’s recent $315/st FOB posting for NOLA. Prices continued to be put in the $300-$310/st FOB range, however, while some players reported trades in the $305-$310/st FOB range.

Eastern Cornbelt:

The granular ammonium sulfate market remained at $370-$385/st FOB in the Eastern Cornbelt, with the lower end of the range reflecting the latest postings from Interoceanic (IOC) out of terminals on the Upper Mississippi, Illinois, and Ohio rivers.

Western Cornbelt:

Granular ammonium sulfate remained at $350-$385/st FOB in the Western Cornbelt, with the high confirmed at Omaha, Neb. The St. Louis market was quoted in the $350-$365/st FOB range in late March.

California:

Ammonium sulfate was steady at $430-$465/st FOB in California, with the low for standard and the high for granular and/or premium grade.

Pacific Northwest:

Granular ammonium sulfate was unchanged at $440-$445/st FOB or DEL in the Pacific Northwest, with standard grade referenced at $405/st FOB or DEL.

Western Canada:

New pricing for ammonium sulfate in Western Canada slipped to C$520-$535/mt DEL, down from the prior C$535-$600/mt DEL range for March-April shipments.

China:

Prices dropped to $150-$160/mt FOB for caprolactam-grade amsul. Sources said that a reduction in output by most industrial plants in China has led to a drop in supplies of the amsul byproduct. At the same time, production facilities in neighboring countries are also operating at reduced rates, lowering demand.

Ammonium sulfate exports for January-February were counted at 1.8 million mt, according to Trade Data Monitor, rising from the prior-year 1.6 million mt.

February exports totaled 887,000 mt, up 38% year-over-year from 641,000 mt. Myanmar led buyers with 168,000 mt, followed by Turkey with 133,000 mt and Brazil with 112,000 mt.

Brazil:   

Prices dropped about $20/mt to $185-$195/mt CFR. Traders expect to see prices continue to come off. Sources said the drop in urea prices was not matched by amsul prices, leaving ammonium sulfate, normally a substitute for urea, about 25% more expensive than urea on a nitrogen basis.

The global fall in amsul prices was reflected in the lower end of the price range in Rondonopolis. Sources put the market at $310-$350/mt FOB ex-warehouse.

DAP/MAP

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

Central Florida:

The Central Florida DAP market continued to be priced at $630/st FOB for truck-loaded tons, sources said, unchanged from the prior report. MAP trucks were also posted at $630/st FOB.

North Florida MAP truck offers were last reported on par with the Central Florida market at $630/st FOB.

US Gulf:

Sources noted little price movement on the NOLA barge phosphate markets for the week.

Imported DAP tons were priced close to the week-ago $600/st FOB floor in a $600-$605/st FOB range, sources said, with public offers at those levels drawing few if any bids. Players continued to put the top of the range at $610/st FOB.

With high water levels complicating travel on the lower Mississippi River, barges located at Cairo continued to trade at a premium to NOLA-loaded tons. Upriver barges were reported in a $620-$625/st FOB range.

The NOLA MAP market was also slow. Domestic tons changed hands at $575/st FOB, while most players described the product’s low end as steady at the week-ago $565/st FOB.

Offers for domestically-produced DAP were quoted at $610/st FOB, while MAP barges were offered at $575/st FOB. Both prices were unchanged from the prior week.

The NOLA DAP barge market was reported in a $600-$610/st FOB range, unmoved from the last check. MAP barges ran $565-$575/st FOB, also unchanged from one week earlier.

US Exports:

Nothing new was reported on the Gulf export market during the week. Spot business was last reported at $635/mt FOB.

Eastern Cornbelt:

DAP was unchanged at $670-$680/st FOB in the Eastern Cornbelt, with the low confirmed at Cincinnati. MAP remained at $625-$650/st FOB, with the upper end out of inland warehouses and the low confirmed at both Cincinnati and Ottawa, Ill.

Western Cornbelt:

DAP was quoted at $665-$680/st FOB in the Western Cornbelt, with the St. Louis market up slightly at $665-$675/st FOB in late March. MAP remained flat at $615-$650/st FOB in the region, with St. Louis pricing pegged in the $615-$625/st FOB range.

California:

MAP postings in California dropped to $780/st FOB or DEL, down from the previous $835/st level.

Pacific Northwest:

MAP pricing in the Pacific Northwest remained at $760-$770/st FOB or DEL in late March, depending on location. While some sources said deals could probably be done at $10-$20/st below that range, actual business at the lower numbers was not confirmed.

Western Canada:

MAP pricing in Western Canada reportedly dropped to C$1,030-$1,080/mt FOB for the latest offers, below the previous C$1,080-$1,100/mt FOB range. Rail-DEL pricing in the region was pegged at C$1,050-$1,060/mt at midweek, down C$10/mt from last report.

China:   

Turnarounds at DAP plants are keeping product availability limited. Sources said that producers still prefer to talk directly with buyers instead of using traders to move the limited tonnage allowed to be exported. The lack of any new business has kept the estimated price for DAP at $605-$610/mt FOB.

Trade Data Monitor noted January-February DAP exports at 370,000 mt, up slightly from 363,000 mt exported during the first two months of 2022.

February DAP exports were reported at 94,000 mt, down 17% year-over-year from 114,000 mt. India took 40% of tonnage with 37,000 mt, while Thailand and New Zealand took another 12,000 mt each.

January-February MAP exports were counted at 346,000 mt, increasing from 101,000 mt in the prior year.

February MAP exports stood at 147,000 mt, outpacing the year-ago 48,000 mt. Brazil received 58,000 mt, while Australia took 43,000 mt.

India:     

No awards were confirmed in the RCF tender for 100,000 mt of DAP. The tons are to be split between the East and West Coasts.

The tender offers, with the exception of Sun at $614.37/mt CFR and Agrifields at $635-$640/mt CFR, represented prices in the $620s/mt CFR, where many traders had been calling the market. RCF reportedly countered Sun with $610/mt CFR bid in the hopes of speeding up the steady decline in DAP prices recently seen in India.

Offering Company US$/mt CFR
East Coast West Coast
Sun 614.37  
Aries 629.79  
Ameropa 624.89 629.89
Agrifields 635.00 640.00

Even without confirmation of a deal, sources said they are comfortable calling the market $614-$630/mt CFR. If Sun accepts the counterbid, RCF will still have to find a cargo for the West Coast. One trader said it will be difficult to find a producer willing to accept that price. Sources reported that Sun is backed by Saudi Arabia.

January DAP imports were reported at 564,000 mt, according to Trade Data Monitor, up from 213,000 mt recorded in January 2022. The market’s main sources were Saudi Arabia with 230,000 mt, China with 166,000 mt, and Russia with 66,000 mt.

Brazil:

MAP prices in Brazil continue to drop, falling to $620-$635/mt CFR from last week’s $630-$645/mt. Sources said this level is not expected to hold, with more bids coming in at $600/mt CFR and below.

Rondonopolis is also showing softer prices. The inland market is now pegged at $725-$770/mt FOB ex-plant with limited trading.

TSP

Brazil, Eastern Cornbelt, Market Watch, Triple Superphosphate, U.S. Gulf, Western Cornbelt

US Gulf:

Price ideas on NOLA TSP barges were flat from the week-ago $525-$545/st FOB level, with the low end reportedly anchored by a small amount of Lebanese tonnage lingering in the market. Once those tons are gone, pricing is expected to lift into the $540-$545/st FOB range, most players agreed.

Eastern Cornbelt:

TSP was quoted at $580-$610/st FOB in the Eastern Cornbelt.

Western Cornbelt:

TSP was pegged at $575-$605/st FOB in the Western Cornbelt, with the low reported at St. Louis.

Brazil:

TSP prices in Brazil firmed to $450-$490/mt CFR, up slightly from last week’s $445-$490/mt range. Buyers are expecting a decline in prices in line with other phosphate fertilizers, however.

Rondonopolis TSP prices were actually down slightly, to $595-$605/mt FOB from last week’s $600-$625/mt.

Phosphoric Acid

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

Eastern Cornbelt:

March phos acid postings in the Eastern Cornbelt remained at $14.00/unit rail-DEL.

Western Cornbelt:

Phos acid was unchanged at $14.00/unit rail-DEL in the region for March tons.

California:

March 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 March remained at $13.50/st FOB Pocatello, Idaho, and $14.00/unit rail-DEL in the Pacific Northwest.

India:

Phosphoric acid cargoes shipped to India were contracted at $1,050/mt P2O5 CFR for the first quarter, sources said, a decrease of $50-$150/mt P2O5 from $1,100-$1,200/mt P2O5 CFR reported in the prior period.

Ammonium Polyphosphate

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

Eastern Cornbelt:

The 10-34-0 market remained at $675-$700/st FOB in the Eastern Cornbelt, with the low out of river terminals and the upper end at inland warehouses.

Western Cornbelt:

10-34-0 was quoted at $655-$675/st FOB in late March, 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 was steady at $680-$685/st FOB in the Pacific Northwest, with 11-37-0 referenced at $745/st FOB Hedges, Wash., and $725/st DEL in Idaho.

Western Canada:

The 10-34-0 market in Western Canada remained at C$955-$965/mt DEL.

Muriate of Potash

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

US Gulf:

NOLA barge prices continued to be called $360-$370/st FOB for prompt business. May was put in the $370s/st FOB.

Eastern Cornbelt:

Potash was unchanged at $425-$430/st Cincinnati and $440-$460/st FOB out of inland warehouses.

Western Cornbelt:

Potash terminal prices were pegged in a broad range at $415-$465/st FOB in the Western Cornbelt, with the St. Louis market remaining a $415-$425/st FOB.

California:

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

Pacific Northwest:

The last confirmed potash business in the Pacific Northwest was reported at $560-$570/st FOB and $562/st rail-DEL for January fill. Post-fill pricing moved up $40/st, to $600-$610/st FOB, though these levels remained untested.

Western Canada:

Potash pricing was unchanged at C$715-$735/mt FOB Saskatchewan mines for truck tons, depending on grade.

India:     

January potash imports totaled 168,000 mt, Trade Data Monitor reported, off 47% from the year-ago 316,000 mt. Canada and Israel accounted for about 60% of the imports, sending a combined 98,000 mt.

Bangladesh:

The Canadian Commercial Corp. (CCC) has signed a new government-to-government (G2G) contract with the Bangladesh Agricultural Development Corp. (BADC) for the delivery of Canadian potash from Canpotex Ltd., CCC said on March 20.

CCC did not disclose the volume to be supplied under the new contract. This is the eighth G2G contract the company has inked with BADC.

CCC said it facilitated the sale of over $500 million of Canpotex potash to Bangladesh in 2022. According to the organization, the government of Bangladesh in 2022 increased its imports of Canadian potash by more than 200% compared to 2021.

China:

Potash imports for January-February totaled 1.6 million mt, according to Trade Data Monitor, an11% increase from the prior-year 1.5 million mt.

February imports were 694,000 mt, down 10% year-over-year from 771,000 mt. Belarus sent 259,000 mt, while Russia and Canada combined for 311,000 mt.

Brazil:

Sources put the price at $440-$460/mt CFR. Large potash quantities stored in bonded warehouses are keeping downward pressure on prices, sources said. Bids reported at $400-$410/mt CFR were not accepted.

Prices in Rondonopolis widened to $550-$585/mt FOB ex-warehouse. Sources said that bids at the low end of the range reflected efforts to pick up potash from sanctioned countries such as Belarus. The upper end of the range was reportedly for product from “normal” sources, such as Canada and Israel.

Sulfur

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

Tampa:

Softening sentiment reported from a number of international markets could lead to lower pricing in the second quarter Tampa molten sulfur contract, players said. With values at both China and Vancouver reportedly falling during the week, some expected the Tampa contract to fall $10-$15/lt from the first-quarter $130/lt CFR contract.

Refinery utilization in the US ticked higher for the week ending March 17, the Energy Information Administration (EIA) reported. Refineries operated at a combined 88.6% capacity for the period, a 0.4 percentage point increase from 88.2% reported one week earlier. The rate tracked behind the year-ago 91.1%, but remained ahead of the industry’s 87.5% five-year average.

Despite the higher utilization rate, daily crude inputs edged downward, the EIA noted. Inputs slipped to an average 15.376 million barrels/d, a 22,000 barrel/d decrease from the week-ago 15.398 million barrels/d.

US Gulf:

Recent pricing on sulfur loaded from the US Gulf was heard in a $125-$130/mt FOB range. Price softening in the international markets could drag on the Gulf in the next round of business, players indicated.

Brazil:

Recent business on the Brazil import market was reported in a wide $135-$160/mt CFR range.

Contracts for the first quarter were pegged in a $172-$186/mt CFR range.

Vancouver:   

The Vancouver prill market was reported softening to a $105-$115/mt FOB range, off from $120-$125/mt FOB in the prior report. Sources cited lower pricing at China.

Alberta:

Alberta netbacks continued at $15-$60/mt FOB for the week. Molten tons contracted into the US accounted for both the high and low of the range, while netbacks from material sold through the Vancouver export market landed in the middle.

West Coast:

Prilled sulfur tons loading from the West Coast were indicated at $105-$115/mt FOB, down from $120-$125/mt FOB in the previous report.

First-quarter molten sulfur contracts were valued at $125-$135/lt FOB, players said.

China:     

Sources reported China import pricing falling into the $130s/mt CFR for the week, down about $10/mt from $140-$150/mt CFR noted previously.

ADNOC:

The Abu Dhabi National Oil Co. (ADNOC) price for March was posted at $134/mt FOB Ruwais, up from $127/mt FOB in February. Achievable prices were rumored closer to $120/mt CFR, however, while some expected softer sentiment from China to pressure values to $100/mt FOB or lower in the next round of business.

Qatar:

Muntajat postings for March were heard at $133/mt FOB Ras Laffan. Lower pricing is expected in April.

Ammonium Thiosulfate

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

Eastern Cornbelt:

The ammonium thiosulfate market was steady at $375-$390/st FOB in the Eastern Cornbelt, with the low reported at Seneca, Ill., and the high at Terra Haute, Ind.

Western Cornbelt:

The ammonium thiosulfate market slipped to $360-$390/st FOB in the Western Cornbelt, down $10-$15/st, with the low confirmed at Waterloo, Iowa.

California:

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

Pacific Northwest:

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

Western Canada:

The ammonium thiosulfate market was quoted at a solid C$535/mt DEL in Saskatchewan in late March.