Central Florida:
Truck-loaded DAP selling from Central Florida was posted at $770/st FOB, steady from the prior report. Posted MAP prices remained at $790/st, also unmoved from the previous week.MAP trucks loading from North Florida were unchanged at $820/st, sources said.
US Gulf:
Sources noted softening values for NOLA DAP and MAP barges.
DAP barges reportedly traded down to $720/st FOB for open-origin material, with trades topping out around the $730/st FOB mark, below last week’s $730-$750/st FOB range. Posted offers from domestic producers continued to be quoted at $760/st FOB.
NOLA MAP barges were noted trading at a $725/st FOB low for non-Russian tons, falling from the prior week’s $747/st FOB floor. Most called the top of the market at $740/st FOB, below the week-ago $765/st FOB high. Offers for domestically-produced tons were quoted at $775/st FOB, with no buyers reported at that level.
Due both to ongoing low-water issues on the Mississippi River and the impending shutdown of upper-river locks for the winter navigation season, sources noted an emphasis on barges already stationed at upriver locations.
US Imports:
July-August DAP imports were off 78.4% year-over-year, to 90,447 st from 418,202 st. August imports totaled 61,943 st, falling 72.7% from 226,800 st in the prior year.
Material shipped from Saudi Arabia moved to the top of the July-August import slate with 60,627 st, followed by 26,168 st from Australia. Tons shipping from China totaled 1,291 st.
August MAP/Other imports were off 95.1%, falling to 5,278 st from the prior year’s 106,970 st. Imports shifted 84.0% lower for July-August, to 40,308 st from the year-ago 251,193 st.
Australia topped the July-August MAP import list with 27,503 st, despite sending zero tons to the US in August. Material loading from Mexico was counted at 4,955 st, followed by 3,078 st from Belgium. China added 2,749 st.
US Exports:
DAP exports moved 132.5% higher in July-August, to 169,121 st from the year-ago 72,750 st. August cargoes totaled 109,787 st, lifting 210.4% from the prior year’s 35,365 st.
MAP/Other exports softened 41.6% in July-August, to 253,981 st from the year-ago 435,255 st. Export totals were posted at 182,145 st for August, off 13.1% from 209,573 st noted one year earlier.
Citing “very limited” supply availability through the November loading window, sources described no new spot business on the US Gulf export market during the week. The market’s most recent reported trades continued in the $750-$760/mt FOB range for both DAP and MAP, unchanged from the prior report.
Eastern Cornbelt:
DAP prices firmed to a broad $800-$840/st FOB in the region, with the low confirmed at Cincinnati and the high at Ottawa, Ill. The increase at the upper end of the range was attributed to the impact of low river levels on barge movement, resulting in what some sources described as a premium for upriver tons that are already in place.
MAP prices strengthened as well, moving to a broad $815-$855/st FOB in the region, with the upper end again reported at Ottawa. The Cincinnati MAP market was pegged at $815-$830/st FOB at midweek.
Western Cornbelt:
Phosphate prices were inching up amid the ongoing river and barge issues. DAP pricing was pegged at $795-$815/st FOB in the Western Cornbelt, with MAP reported in a broad $815-$850/st FOB range, depending on location. The St. Louis market was pegged at $795-$815/st for DAP and $810-$825/st FOB for MAP. Caruthersville DAP was reported at the $800/st FOB level at midweek.
Southern Plains:
DAP pricing was quoted at $800-$825/st FOB Catoosa/Inola, depending on supplier and time of the week, with the Houston market reported at the $810/st FOB level at midweek. MAP pricing firmed to a broad range at $810-$840/st FOB Catoosa/Inola, with the Houston market quoted at a solid $830/st FOB.
“Supply of phosphate products has become limited,” said one source. “Volatility, limited buying interest early, and high demurrage rates for barges did not encourage sellers to aggressively position product at Tulsa. That has been compounded with delays for river transportation.”
South Central:
The DAP market remained at $800-$810/st FOB in the South Central region, with Memphis pricing steady at the $805-$810/st FOB level in mid-October.
Southeast:
MAP pricing from Nutrien remained at $820/st FOB Aurora, N.C., and White Springs, Fla. DAP is currently unavailable at Aurora.
China:
Reports continue to circulate of DAP deals at $690/mt FOB, but with no additional details. The move to sub-$700/mt FOB prices has been steady for about a month. Indian buyers have become more aggressive in their demands for lower prices, and suppliers have accommodated the buyers to ensure steady business in an otherwise slow market.
India:
Sources said the country still needs DAP. With lower phos acid prices, however, Indian buyers may begin to step away from the global market. With inputs for DAP production coming down, sources speculated that more DAP plants in India will step up their production rates, leaving less need for imports.
Bangladesh:
The government gave BCIC approval to move ahead with a tender for 40,000 mt of DAP. The call will most likely come at the same time as the tender for 60,000 mt of urea.Awards from the previous DAP tender held by BADC were settled with Ma’aden at $726/mt CFR bagged for 40,000 mt.
Pakistan:
Sources said the country still needs DAP. There are reports of discussions taking place with Saudi Arabia for a government-to-government deal.
Brazil:
Low demand for MAP is having an impact on pricing. Sources said the lower end of the range dropped, for a new price of $650-$680/mt CFR.
The Rondonopolis price experienced a slight dip as well, moving to $795-$825/mt FOB ex-warehouse. The lack of demand for MAP is expected to keep exerting a downward push on prices.