All posts by mickeybarb@charter.net

Ammonium Nitrate

Ammonium Nitrate, Brazil, Market Watch, U.S. Exports, U.S. Imports, Western Cornbelt

US Imports:

December ammonium nitrate imports were noted at 16,856 st, off 65.3% from 48,520 st in December 2021. July-December exports totaled 140,970 st, 22.3% below the year-ago 181,412 st.

US Exports:

Exports for December stood at 52,691 st, up 25.8% from the year-ago 41,893 st. July-December exports were 309,202 st, 37.8% above the prior-year 224,317 st.

Western Cornbelt:

The ammonium nitrate market was steady at $590-$610/st FOB Missouri terminals for the last confirmed offers.

Brazil:   

January ammonium nitrate imports were counted at 88,000 mt, according to Trade Data Monitor, against 504 mt imported in January 2022. Russia supplied the bulk of the product, sending 86,000 mt.

Ammonium Sulfate

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

US Gulf:

NOLA barge prices edged down to $325-$330/st FOB from $330-$340/st FOB.

US Imports:

July-December ammonium sulfate imports totaled 314,031 st, off 19.3% from the year-ago 389,115 st. December imports were down 30.6%, to 31,261 st from the prior 45,065 st.

Imports originating from Canada totaled 195,566 st for July-December, ahead of Belgium’s 89,647 st. South Korea sent 17,141 st.

US Exports:

December amsul exports fell 48.0%, to 57,227 st from 110,011 st in December 2021. July-December exports were up 21.6%, however, to 438,737 st from 360,755 st.

Eastern Cornbelt:

Ammonium sulfate was reported in a broad range at $370-$425/st FOB in the Eastern Cornbelt, depending on location.

Western Cornbelt:

Granular ammonium sulfate pricing remained at $385-$405/st FOB in the Western Cornbelt, with the low confirmed at St. Louis and the high in Iowa. Northern Plains sources confirmed recent offers FOB Sioux City, Iowa, at the $415/st level.

California:

Ammonium sulfate prices in California reportedly fell to $460-$465/st FOB, below the previous $500-$525/st FOB range, with the high confirmed at Lathrop, Woodland, and Richvale. Rail-DEL offers were also quoted at the $460/st level in Northern California.

Pacific Northwest:

The ammonium sulfate market remained at $430-$470/st FOB and $430-$475/st DEL in the Pacific Northwest, depending on grade, location, and supplier, with the low confirmed for standard and the high for granular product.

Western Canada:

Ammonium sulfate pricing in Western Canada was quoted at C$600-$610/mt DEL for February-March, down from a high of C$635/mt in January.

China:   

Sources reported a slight softening of the market to the low-$160s/mt FOB for caprolactam-grade ammonium sulfate. Supplies are expected to remain limited as long as China’s industrial output lags, said sources.

Indonesia:

A Pupuk Holdings tender calling for 35,000 mt of caprolactam-grade ammonium sulfate closed on Feb. 8. The tender called for 15,000 mt delivered to Kujang, and 20,000 mt to Palembang. Shipments are to be in 5,000 mt lots, with Palembang receiving its allotment in March and Kujang getting its amsul in April.

Initial reports from the tender showed low offers in the low- to mid-$170s/mt CFR. Sources put the freight at $30/mt for a netback to China in the low-$140s/mt FOB. The last Indonesian tender in January showed a price at $180/mt CFR, for a netback to China in the mid-$160s/mt FOB. The lowest offer in the latest tender reportedly was Best Sign, the winner of the January tender.

Brazil:

Sources reported a slight decrease in pricing to $220-$235/mt CFR. Prices are following the softer urea market, as buyers find less need to look for a nitrogen substitute.

The Rondonopolis price was reported down to $375/mt FOB ex-warehouse on limited demand.

Imports of ammonium sulfate totaled 361,000 mt in January, Trade Data Monitor reported, a 7.5% year-over-year decrease from 390,000 mt. China dominated the supplies with 332,000 mt, good for 92% of the imported amsul.

DAP/MAP

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

Central Florida:

Central Florida DAP and MAP postings were steady at $650/st FOB, sources reported, unchanged from one week earlier.

MAP trucks offered from North Florida were also quote at $650/st FOB, unmoved from the previous report.

US Gulf:

NOLA phosphate barges were reported stepping down during the week, with players describing prices for both DAP and MAP falling on low seasonal demand.

DAP barges were reported at a $590/st FOB low for the period, a $40/st FOB decrease from $630/st FOB noted previously. Players described transactions up to $610/st FOB, falling from the week-ago $645/st FOB top. Offers for domestically produced tons were quoted softening to $640/st FOB from the prior $645/st FOB, with no trades reported at that level.

NOLA MAP were also lower. Players described the weekly high at $565/st FOB, while tons were noted changing hands down to $550/st FOB on Feb. 9, $25/st below the week-ago $575/st FOB floor. Domestic MAP offers dropped $10/st week-over-week, sources said, to $610/st FOB from $620/st FOB.

The nearby DAP barge market was reported in a $590-$610/st FOB range for the Feb. 3-9 trading period, off from the prior $630-$645/st FOB. Players put NOLA MAP barges at $550-$565/st FOB, below $575-$615/st FOB at last check.

US Imports:

July-December DAP imports fell 52.3% year-over-year, to 357,920 st from 750,722 st. December imports were 39,301 st, off 52.0% from the year-ago 81,937 st.

Saudi Arabia continued to lead the July-December import market with 218,741 st. Australia added 119,060 st, followed by 12,534 st from Russia.

December MAP/Other imports firmed 20.5% from the prior year, to 78,365 st from 65,024 st. Imports fell 15.0% st for July-December, however, to 459,475 st from the year-ago 540,460 st.

Imports from Russia were clocked at 174,154 st in July-December, ahead of 102,962 st from Australia and 90,281 st from Saudi Arabia. Mexico sent 44,114 st.

US Exports:

DAP exports firmed 31.3% in July-December, to 438,278 st from the year-ago 333,792 st. Shipments totaled 95,993 st for December, an 82.4% increase from 52,640 st in December 2021.

MAP/Other exports were off 1.4% in July-December, slipping to 988,684 st from the year-ago 1.00 million st. December cargoes were counted at 222,907 st, however, up 39.8% compared to 159,469 st reported one year earlier.

No new spot export transactions were noted out of the US Gulf during the week, leaving last-done pricing unchanged at $650/mt FOB. New seller offers were quoted at $650/mt FOB, down $20/mt from $670/mt FOB reported previously.

Eastern Cornbelt:

DAP prices moved to $660-$685/st FOB and MAP to $650-$675/st FOB in the Eastern Cornbelt, with both the high and low of both ranges reported at Cincinnati, depending on supplier. Offers out of spot Illinois River terminals were quoted at the $670/st FOB level for DAP and $665/st FOB for MAP.

Western Cornbelt:

DAP slipped to $660-$685/st FOB in the Western Cornbelt, with the St. Louis market pegged in the $660-$670/st FOB range in early February. MAP remained in a broad range at $625-$665/st FOB in the region, with the low confirmed at St. Louis. Recent St. Paul pricing was reported at $705/st FOB for DAP and $685/st FOB for MAP.

California:

MAP postings in California were unchanged at $835/st FOB or DEL, with reports of spot rail-DEL offers down to $790/st in Northern California.

Pacific Northwest:

MAP pricing in the Pacific Northwest slipped to $760-$770/st FOB or DEL, depending on location, down another $10/st from last report.

Western Canada:

MAP in Western Canada dropped to C$1,100-$1,120/mt FOB and C$1,075-$1,095/mt DEL for February-March, down from earlier offers at C$1,110-$1,130/mt FOB or DEL for January-February. “The pressure on NOLA MAP, and DAP to a lesser extent, seems to be translating to lower inland values across Canada,” said one contact.

China:   

Sources reported new DAP indications out of China at $610-$630/mt FOB. Talks were also rumored at $600/mt FOB, but with no serious discussions confirmed at that level. Pricing out of China remains problematic, as producers continue to prefer doing business directly with large-scale buyers rather than working through the trading houses.

India:     

Only DAP cargoes from contract deals are currently entering the country, sources said. No spot purchases have been reported.

Brazil:   

The landed price of MAP remained at $655-$660/mt CFR. The steady price comes from increased offers of Russian DAP at discounted rates. Without the Russian offers, sources said, prices would be moving up.

Limited business in Rondonopolis put the price up to $815-$835/mt FOB ex-warehouse. Sources reported sales at $780/mt FOB ex-warehouse, although these deals have not been widely offered and may involve cheaper Russian product.

January MAP imports stood at 387,000 mt, Trade Data Monitor reported, up from 107,000 mt in January 2022. Russia was the largest supplier with 263,000 mt, representing 68% of the market. Morocco added 59,000 mt, followed by Saudi Arabia with 37,000.

Phosphate Rock

Market Watch, Phosphate Rock, Tunisia, U.S. Imports

US Imports:

Phosphate rock imports were up 5.6% for July-December, to 1.60 million st from 1.52 million st in the prior-year period. Imports moved 24.6% lower in December, however, to 269,270 st from the year-ago 357,152 st.

Tunisia:

State-run Gafsa Phosphates Co. (CPG) expects commercial production of phosphate rock in 2023 to reach 5.6 million mt, up from the average output of 3.5 million mt/y over the past decade, Tunis Afrique Presse (TAP) reported on Feb. 7, citing the producer.

CPG’s objective is to achieve a monthly production volume equivalent to 400,000 mt at its production units of Metlaoui, M’dhilla, Om Laârayes and Redeyef. The company believes this is an achievable goal, providing all units operate at capacity and provided that problems related to transport of the phos rock from the mines to the ore processing units are solved, according to the report.

Last week saw the resumption of activity at the Om Laârayes site after a year of production stoppage due to repeated worker sit-ins, TAP reported. The unit can produce some 600,000 mt/y of phos rock.

Phosphoric Acid

California, Eastern Cornbelt, India, Phosphoric Acid, U.S. Exports, Western Cornbelt

US Exports:

Wet-process phosphoric acid exports rose 35.2% in July-December, to 188,274 st from the year-ago 139,255 st. Shipments totaled 47,372 st for December, up 937.0% from 4,568 st.

Eastern Cornbelt:

February phos acid postings in the Eastern Cornbelt were unchanged at $14.00/unit rail-DEL.

Western Cornbelt:

Phos acid pricing remained at $14.00/unit rail-DEL in the region for February tons.

California:

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

Pacific Northwest:

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

India:

India phosphoric acid contracts for the first quarter were quoted at $1,050/mt P2O5 CFR, below $1,100-$1,200/mt P2O5 CFR in fourth-quarter 2022.

Ammonium Polyphosphate

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

Eastern Cornbelt:

The 10-34-0 market reportedly firmed to the $700/st FOB level in the Eastern Cornbelt, give or take, depending on location. Michigan sources reported new spring offers as high as $780/st FOB on a spot basis.

Western Cornbelt:

10-34-0 was reported at $655-$685/st FOB in the Western Cornbelt, with the low in Nebraska and the high in Iowa.

California:

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

Pacific Northwest:

10-34-0 postings in the Pacific Northwest were steady at $685/st FOB Hedges, Wash., with 11-37-0 postings remaining at $745/st FOB Hedges and $725/st DEL in Idaho.

Western Canada:

10-34-0 pricing in Western Canada was unchanged at C$955-$965/mt DEL for February-March offers.

Muriate of Potash

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

US Gulf:

NOLA barges were reported in the $380-$387/st FOB range for prompt trades, down from the week-ago $385-$395/st FOB. Buyers thought they could do better, citing a $375/st FOB barge for second-half March.

US Imports:

Potash imports softened 16.3% in July-December, falling to 5.78 million st from the prior-year 6.90 million st. Imports were down 16.8% in December, to 893,375 st from the year-ago 1.07 million st.

July-December imports from Canada totaled 4.97 million st, followed by 600,862 st from Russia and 167,370 st from Israel.

US Exports:

Potash exports were off 26.0% in July-December, to 1.63 million st from the year-ago 2.20 million st. December exports were clocked at 264,008 st, down 34.4% from 402,599 st logged one year earlier.

Eastern Cornbelt:

The Eastern Cornbelt potash market remained at $450-$470/st FOB, with Cincinnati pricing quoted at the $450-$465/st FOB level during the week.

Western Cornbelt:

The latest potash prices in Western Canada were pegged at C$715-$735/mt FOB Saskatchewan mines for February-March truck tons.

California:

Potash continued to range from $585-$615/st FOB in California, depending on grade and location.

Pacific Northwest:

The last confirmed potash business was reported at $560-$570/st FOB for fill tons. Post-fill pricing reportedly moved up $40/st, to $600-$610/st FOB, though these levels remain untested.

The last posted potash prices from Intrepid FOB Moab and Wendover, Utah, remained at $505/st for 60% white standard and $515/st for 60% white granular.

Western Canada:

The latest potash prices in Western Canada were pegged at C$715-$735/mt FOB Saskatchewan mines for February-March truck tons.

Brazil:   

The potash price softened to $495-$510/mt CFR. Even with the recent steady decline in prices, sources said they expect to see a rebound for March and April material. High inventories and the presence of material from Belarus, combined with limited demand for February tonnage, are keeping prices from moving up.

Product from Belarus was quoted at $470/mt CFR. Plentiful reserves and an apparent lack of interest in Brazil have some traders looking at re-export possibilities.

The Rondonopolis price softened slightly to $610-$640/mt FOB ex-warehouse. Bids rumored at $570/mt FOB reportedly hoped to take advantage of the full stockpiles, but with no confirmed takers.

Trade Data Monitor reported January potash imports at 522,000 mt, down 27% from the year-ago 716,000 mt. Russia and Canada sent 174,000 mt each, followed by 67,000 mt from Belarus.

Sulfur

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

Tampa:

First-quarter contracts for molten sulfur delivered to Tampa were valued at $130/lt CFR, up $40/lt from $90/lt in the fourth quarter.

Operable refining capacity jumped for the week ending Feb. 3, the US Energy Information Administration (EIA) reported. Capacity utilization was tabbed at 87.9% for the period, a 2.2-point increase from 85.7% noted previously. The current-week rate tracked below the year-ago 88.2%, while pulling ahead of the industry’s 87.6% five-year average.

Daily crude inputs also improved, moving above the 15 million barrel/d mark for the first time since the week ending Dec. 23, 2022. The EIA reported throughput at an average 15.410 million barrels/d for the period, a 449,000 barrel/d jump from 14.961 million barrels/d noted one week earlier.

US Gulf:

Valero shut a sulfur recovery unit (SRU) at its Houston, Texas, refinery on Feb. 5, Genscape reported. A 50,000 barrel/d hydrocracker and 14,000 barrel/d hydrotreater went offline on Feb. 4, while a 95,000 barrel/d crude distillation unit and an associated 38,000 barrel/d vacuum distillation unit were taken offline on Jan. 28, reportedly for planned maintenance.

Sources continued to note last-done US Gulf pricing at $120/mt FOB, unmoved from the prior report. Players were divided on the market’s next move. Bears predicted additional price softening in the short-term, while others saw the quiet week as a sign that international markets were approaching a bottom.

US Imports:

July-December sulfur imports softened 13.7% year-over-year, to 1.42 million st from 1.65 million st. December imports were up 13.1%, however, rising to 259,556 st from the year-ago 229,462 st.

US Exports:

Sulfur exports softened 31.9% in December, to 144,469 st from the prior-year 212,007 st. Exports were counted at 1.08 million st for July-December, however, 30.2% above the year-ago 828,748 st.

Brazil:

Last-done spot imports continued to be heard at $145/mt CFR, steady from the prior report. Some reported talks for new business in a $130-$140/mt CFR range.

First-quarter contract tons were understood to fall in a $172-$186/mt CFR range, above $119-$138/mt CFR in the fourth quarter.

Vancouver:   

Solid sulfur tons loading from Vancouver were valued at $110-$115/mt FOB, unmoved from one week earlier.

Alberta:

Netbacks on molten and solid tons sold from Alberta continued to be indicated at $15-$60/mt FOB.

West Coast:

The Phillips 66 refinery at Wilmington, Calif., restarted an SRU a on the morning of Feb. 3, Genscape reported. The unit had been offline since Nov. 7. The facility’s second SRU, online at the time of the restart, was subsequently shut on Feb. 7. Phillips has historically run just one SRU at a time in Wilmington.

Indications on prilled sulfur cargoes loading from the West Coast were flat at $110-$115/mt FOB.

First-quarter molten sulfur contracts were reported in a $125-$135/lt FOB range, rising from $75-$79/lt FOB in the prior period.

China:     

With no new business reported on the week’s China spot import market, pricing continued at the week-ago $130-$140/mt CFR level.

ADNOC:

Abu Dhabi National Oil Co. (ADNOC) offers for February were noted at $127/mt FOB Ruwais, a $33/mt decrease from $160/mt FOB in January.

Qatar:

Solid sulfur loading from Qatar fell to $124/mt FOB Ras Laffan in February, sources said, down $31/mt from $155/mt FOB recorded for January.