Western Cornbelt:
Ammonium nitrate pricing in Missouri was steady at $470/st FOB Lamar and $490/st FOB St. Joseph.
Brazil:
Ammonium nitrate imports totaled 132,000 mt for January-February, Trade Data Monitor reported, up from the prior-year 46,000 mt. February imports were reported at 88,000 mt, against 504 mt recorded for February 2022. Russia accounted for all of the tonnage.
US Gulf:
The NOLA barge market for ammonium sulfate remained at the $300-$310/st FOB level, unchanged from last week on limited business. Some sources said offers would likely need to fall to sub-$300/st levels to generate new business, however.
Eastern Cornbelt:
Granular ammonium sulfate tightened to $380-$400/st FOB in the Eastern Cornbelt, with the low reported at Cincinnati and the high out of spot Illinois River terminals.
Western Cornbelt:
Granular ammonium sulfate was quoted at $360-$390/st FOB in the Western Cornbelt, with the low confirmed at St. Louis and the high in Iowa. The Southern Plains market was quoted at $340-$350/st FOB at the low end of the range.
Northern Plains:
Delivered ammonium sulfate in the Northern Plains was pegged at $380-$400/st for the latest offers, down from the previous $390-$430/st DEL level. Warehouse pricing ranged from $380-$415/st FOB, with the low at St. Paul and the high at Sioux City, Iowa.
Northeast:
The ammonium sulfate market remained at $405-$455/st FOB in the Northeast, depending on location, with delivered tons pegged at $475-$485/st DEL in the region.
Eastern Canada:
The ammonium sulfate market in Eastern Canada slipped to C$680-$825/mt FOB in early March, below the previous C$720-$825/mt FOB range.
China:
Prices were steady in the low-$170s/mt FOB. Sources said that supply is dwindling because of reduced production in China, just as demand is also waning. NPK producers in particular were said to be easing off on demand for amsul.
Brazil:
Prices dipped to $215-$220/mt CFR on reduced demand at the ports. The price at Rondonopolis moved up to $340-$360/mt FOB, however, with sources citing limited availability.
Trade Data Monitor reported January-February ammonium sulfate imports at 624,000 mt,off28% year-over-year from 870,000 mt. Imports were 263,000 mt in February, down from the year-ago 479,000 mt. China was the main supplier in February, sending 246,000 mt.
Turkey:
January imports totaled 211,000 mt, according to Trade Data Monitor, a42% increase from 149,000 mt noted for January 2022. Chinese amsul accounted for 75% of the imports with 159,000 mt, followed by 32,000 mt from the US.
Central Florida:
Central Florida DAP and MAP trucks were posted at $630/st FOB, unchanged from one week earlier.
Truck-loaded MAP was reported at $630/st FOB from North Florida, also flat compared to the prior report.
US Gulf:
Sources noted stagnant pricing in the NOLA barge MAP market, while DAP prices edged lower.
Multiple trades of domestically-produced DAP were reported at $610-$615/st FOB, on par with the top of the week-ago range. At the same time, players noted import transactions slipping below the prior-week $600/st floor in a $595-$605/st FOB range. Offers for domestic DAP were unchanged at $610/st FOB on March 9.
Sources described a slow MAP market. Offers for domestically-produced tons continued at $575, steady from last week, while limited early-week trading was reported even with the previous $555/st FOB bottom. Some believed the lower prices were no longer available by the end of the week, however. “I don’t think I could buy better than $560-$565/st FOB now,” said one source on March 9. “The market has firmed up a bit.”
DAP barge pricing was reported in a $595-$615/st FOB range, off from $600-$615/st FOB at last check. Minimal MAP trading resulted in a rollover from the week-ago $555-$575/st FOB range, sources said.
US Exports:
Mosaic reported a 6,000 mt DAP sale priced at $635/mt FOB. The cargo, slated to load in second-half March, was destined for a single location in northern Latin America. The Gulf export market was previously reported at $650/mt FOB.
Eastern Cornbelt:
DAP reportedly firmed to $670-$680/st FOB Cincinnati and other Eastern Cornbelt river terminals, up from a recent low of $660/st FOB. “Seems like DAP supply is snug until we get to April for more barge arrivals,” said one contact.
MAP dropped to $625-$635/st FOB Cincinnati, down from $650-$660/st FOB, with the upper end of the regional market pegged at the $650/st FOB level. MAP pricing in the Great Lakes region slipped to $650-$675/st FOB, depending on location and time of shipment, below the prior $670-$680/st FOB range.
Western Cornbelt:
DAP was quoted at $660-$675/st FOB in the Western Cornbelt, up slightly from the previous week, with the St. Louis market reported at $660-$670/st FOB, up from $640-$660/st FOB. MAP remained at $620-$660/st FOB in the region, with the low confirmed at St. Louis.
Northern Plains:
Phosphate pricing FOB St. Paul was reported at $690/st FOB for DAP and $665/st FOB for MAP. Brown MAP fell to $660/st FOB for spot tons in North Dakota, with green MAP pegged at the $760/st DEL level to points in western North Dakota.
Northeast:
The DAP market dropped to $675-$690/st FOB in the Northeast, with the low confirmed at Fairless Hills and the high at East Liverpool. MAP remained at the $670/st level FOB East Liverpool in early March.
Eastern Canada:
DAP was quoted at the C$1,010/mt FOB level in Montreal, down C$80/mt from last report. MAP prices dropped to a wide C$1,020-$1,280/mt FOB range in early March, depending on location and supplier.
China:
Reports of a 50,000 mt DAP sale to India’s National Fertilizers Ltd. (NFL) at $625/mt CFR led sources to estimate the netback at $600-$615/mt FOB. Sources also noted the price ex-plant at $580-$600/mt. The plant price fits with the netback from the NFL sale, one trader said.
India:
Sources reported that NFL secured 50,000 mt of DAP from China at $625/mt CFR, showing further price erosion into India.
Brazil:
Prices of MAP edged downward to $630-$650/mt FOB. The lower end of the range was reportedly dominated by Russian product.
The price in Rondonopolis is now pegged at $740-$800/mt FOB. Sources said aggressive bidding at ever-lower levels brought down the price. However, said sources, not everyone was able to take advantage of the lowest end of the range.
MAP imports for January-February totaled 711,000 mt, according to Trade Data Monitor, up significantly from the prior-year 311,000 mt. February imports were 324,000 mt, a 59% increase from 204,000 mt in February 2022. Morocco accounted for 45% of the imported MAP with 145,000 mt, while Russia’s 137,000 mt represented 42% of the import market.
US Gulf:
Players noted NOLA TSP barges in a $530-$550/st FOB range, rising from $525-$540/st FOB reported previously.
Eastern Cornbelt:
TSP was lower in the Eastern Cornbelt, with new Cincinnati pricing reported at $580-$600/st FOB, down from $595-$610/st FOB.
Western Cornbelt:
TSP was steady at $570/st FOB St. Louis in early March.
Tunisia:
Groupe Chimique Tunisien (GCT) is preparing to ship its first phosphate fertilizer cargo this year to Brazil, according to Tunis Afrique Presse. The shipment will reportedly be shipped in mid-March, and will consist of 25,000-30,000 mt of TSP produced at GCT’s M’dhilla plant.
GCT last month inked a new contract with Bangladesh Agricultural Development Corp. (BADC) for the supply of 150,000 mt of TSP in 2023, according to the report. The two companies signed a Memorandum of Understanding (MOU) in mid-February for the tons, according to Tunisia’s Ministry of Agriculture (GM Feb. 17, p. 9).
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 Western Cornbelt for March tons.
Northern Plains:
Phos acid pricing for March shipments remained at $14.00/unit rail-DEL in the Northern Plains, unchanged from February.
India:
India phosphoric acid contracts were pegged at $1,050/mt P2O5 CFR for the first quarter, a $50-$150/mt P2O5 decrease from $1,100-$1,200/mt P2O5 CFR in 4Q.
Eastern Cornbelt:
The 10-34-0 market was quoted 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 reported at $655-$675/st FOB in the Western Cornbelt, with the low in Nebraska and the high in Iowa.
Northern Plains:
The 10-34-0 market was steady at $655-$675/st FOB in the Northern Plains, with delivered pricing pegged in a broad range at $700-$750/st in central and western North Dakota.
Northeast:
10-34-0 prices in New York were steady at $750/st FOB in early March.
US Gulf:
Reports of trades at the previous week’s low of $360/st FOB continued early in the week, though most sources quoted NOLA potash barges in the $370-$375/st FOB range for new business as the week progressed.
Eastern Cornbelt:
Potash warehouse prices continued to slide in the Eastern Cornbelt. The Cincinnati market was pegged at $425-$430/st FOB for new business, down from $445-$460/st FOB, with inland warehouses reported in the $440-$460/st FOB range. Michigan sources quoted new offers FOB Toledo at $445-$475/st FOB, depending on time of shipment.
Western Cornbelt:
Potash terminal pricing was flat at $420-$465/st FOB in the Western Cornbelt, with the low at St. Louis and the high reported in Iowa.
Northern Plains:
Sources quoted potash pricing at $460-$470/st FOB St. Paul, with delivered tons pegged at the $470-$485/st level in the Northern Plains. The latest prices FOB Saskatchewan mines, based on current exchange rates, were reported at $482-$495/st, depending on grade and time of delivery.
Northeast:
Potash prices remained under pressure in the Northeast. New offers were reported at $440-$465/st FOB in the region, down from the previous $460-$480/st FOB range, with the low confirmed at East Liverpool and the high at Fairless Hills. Delivered tons were quoted at the $490/st level in Pennsylvania.
Eastern Canada:
Potash pricing in Eastern Canada remained at C$740-$745/mt FOB regional warehouses.
Brazil:
Prices continued to falter. Sources put the market at $450-$470/mt CFR. Re-exported material from the US Gulf and tonnage from Belarus are keeping downward pressure on prices, sources said.
Rondonopolis was also reported down, with sources putting the price at $570-$605/mt FOB ex-warehouse. The price decline is being repeated in other parts of the country, giving little hope to potash sellers.
January-February potash imports were 1.3 million mt, according to Trade Data Monitor, off21% from the year-ago 1.7 million mt.
February 2023 imports totaled 788,000 mt, down from 940,000 mt in February 2022. Russia provided 37% of the total with 289,000 mt, followed by 225,000 mt from Canada. Belarus sent 106,000 mt.
Thailand:
Trade Data Monitor put January potash imports at 49,000 mt, up slightly from 42,000 mt in the previous January. Germany was the largest supplier, with 35,000 mt.
Tampa:
A mix of low run rates at US refineries and perceived demand increases from phosphate producers led some sources to predict possible near-term tightening in the domestic US sulfur market. For now, however, the market continued to see mostly balanced conditions, players said.
Supply contracts for the first quarter were valued at $130/lt CFR, up $40/lt from the prior period.
US refinery utilization ticked higher for the week ending March 3, the Energy Information Administration (EIA) reported. Refiners ran at 86% of nationwide capacity, up from 85.8% the week before. Rates for the week tracked behind the year-ago 89.3%, while holding above the 83.6% five-year average.
Daily crude inputs fell 12,000 barrels/d for the period, the EIA said. Inputs were tracked at an average 14.967 million barrels/d, below the 14.979 million barrels/d rate reported the week before.
US Gulf:
Gulf sulfur pricing continued to be noted in a $120-$125/mt FOB range, steady from week-ago levels.
Brazil:
Nothing new was heard for the week, leaving recent import levels in a reported $135-$160/mt CFR range.
Contract pricing was understood to fall in a $172-$186/mt CFR range for the first quarter. Sources reported minimal tonnage secured through contracts for 1Q.
Vancouver:
Vancouver values firmed to $120-$125/mt FOB in recent trading, sources said, a $5/mt increase from the week-ago $115-$120/mt FOB.
Alberta:
Alberta sulfur netback indications were flat at $15-$60/mt FOB. The price included both molten tons contracted into the US market and prilled material selling through the Vancouver export market.
West Coast:
West Coast prill indications moved up $5/mt to $120-$125/mt FOB, in line with Vancouver.
Molten contracts loading from refineries on the West Coast were reported in a $125-$135/lt FOB range, above $75-$79/lt FOB in fourth-quarter 2022.
China:
Recent China imports continued to be reported in a $150-$158/mt CFR range, unmoved from one week earlier.
Qatar:
Solid sulfur loading from Qatar was heard at $133/mt FOB Ras Laffan for March, a $9/mt increase from February’s $124/mt FOB posting.
US Gulf:
With nothing new reported, price ideas in the US Gulf continued in the $80-$90/mt CFR range, unchanged from the prior week.
Brazil:
Citing a recent tender award said to land in the mid-$70s/mt CFR, price ideas at Brazil stretched to a wide $75-$100/mt CFR range, with smaller cargoes expected to track toward the upper end of the spread. The market was previously noted at $90-$100/mt CFR.
US Gulf:
UAN barge prices firmed to $280-$295/st ($8.75-$9.22/unit) FOB, up from $260-$280/st ($8.13-$8.75/unit) the week before, with the upper end of the range reported for April tons. Some sources said they expect the market to move north of the $300-$310/st FOB level for the next round of business.
Eastern Cornbelt:
The last pricing for UAN at Cincinnati was quoted at $305/st ($9.53/unit) FOB for UAN-32 and $265-$270/st ($9.46-$9.64/unit) FOB for UAN-28. UAN-32 at Mount Vernon, Ind., was pegged at $305-$310/st ($9.53-$9.69/unit) FOB at midweek, while recent offers out of Illinois River terminals fell in the $310-$330/st ($9.69-$10.31/unit) FOB range for prompt tons.
Western Cornbelt:
UAN-32 was quoted at $300-$330/st ($9.38-$10.31/unit) in the Western Cornbelt, with the low for prompt Port Neal tons and the high confirmed for April offers on a spot basis. The latest price at St. Louis included $305-$310/st ($9.53-$9.69/unit) for prompt tons, while rail-DEL offers were pegged in the $320-$330/st ($10.00-$10.31/unit) range in the region.
In the Southern Plains, UAN-32 pricing out of production points in Oklahoma firmed to $290-$295/st ($9.06-$9.22/unit) FOB from the prior $265-$275/st ($8.28-$8.59/unit) FOB range, with reports of allocated supply at some terminals. Prompt tons at Coffeyville were confirmed at the $305/st ($9.53/unit) FOB level.
Northern Plains:
Prompt UAN-28 remained at a low of $300-$320/st ($10.71-$11.43/unit) FOB terminals in North Dakota, while spring pricing for UAN-32 FOB Winona, Minn., was quoted at $370/st ($11.56/unit), down from $440/st ($13.75/unit) FOB in mid-February. Delivered pricing for spring UAN-28 tons in the Dakotas was pegged at $360-$380/st ($12.86-$13.57/unit).
Northeast:
The UAN-32 market in the Northeast was pegged at $350-$355/st ($10.94-$11.09/unit) FOB Fairless Hills and Baltimore, down from the prior $365-$380/st ($11.41-$11.88/unit) FOB range. UAN-32 pricing out of terminals in upstate New York remained at $425/st ($13.28/unit) FOB.
The latest Baltimore prices for 27-0-0-3S and 28-0-0-5S included $325/st FOB and $360/st FOB, respectively.
Recent UAN-32 offers in the Southeast were confirmed at $365/st ($11.41/unit) FOB Savannah, Ga., down from $370/st ($11.56/unit) FOB in late February.
Eastern Canada:
UAN-28 pricing dropped to C$580-$680/mt (C$20.71-$24.29/unit) FOB in Eastern Canada, well below the C$683-$935/mt (C$24.39-$33.39/unit) FOB range reported last month. Recent UAN-32 offers were confirmed at the C$662/mt (C$20.69/unit) FOB level in Ontario, down from C$780/mt (C$24.38/unit) FOB.
