Central Florida:
DAP trucks loading from Central Florida remained posted at $640/st FOB, sources said, unmoved from the prior report. Truck-loaded MAP carried a $10/st discount at $630/st FOB, also steady from the previous week.
MAP trucks loaded from North Florida continued to be posted at $650/st FOB, sources reported.
US Gulf:
Sources reported a quiet week in the NOLA DAP and MAP barge markets, noting limited trading.
Imported DAP loading in June continued to be priced at a $450-$460/st FOB floor, unchanged the market’s week-ago low, while domestically-produced tons carried a premium at $500/st FOB, steady from the week-ago high. Sources were unable to point to concluded business at any level, leaving prices unchanged from the prior week. Third-quarter paper trades and offers were noted in a $450-$455/st FOB range.
June-loaded import MAP barges were heard even with DAP in a $450-$460/st FOB range at the low side, unchanged from last-reported $450/st FOB floor, while sources described a block of domestic MAP barges trading at $470/st FOB, off from the prior $490/st FOB top. Domestically-produced tons continued to be indicated at $500/st FOB, although no trades were noted at that level. Players reported a July MAP barge changing hands at $465/st FOB
NOLA DAP barges loading through June were priced in a $450-$500/st FOB range, steady from the week-ago $450-$500/st FOB level. Players put MAP pricing at $450-$470/st FOB, falling from $450-$490/st FOB at last check.
US Exports:
Nothing new was reported on the US Gulf DAP and MAP export markets. Offers for new business were previously noted at $520/st FOB.
Eastern Cornbelt:
DAP dropped to $640-$690/st FOB in the Eastern Cornbelt, down from last week’s high of $700/st FOB, with the low end of the range confirmed in Illinois and the upper end at Cincinnati. MAP was pegged at $670-$690/st FOB in the region in late May.
Western Cornbelt:
DAP remained in a broad range at $625-$680/st FOB in the Western Cornbelt, with the low confirmed at St. Louis. MAP was pegged at $620-$690/st FOB in the region, with the low once again reported at St. Louis.
Northern Plains:
DAP and MAP in the Northern Plains dropped to $670-$680/st FOB St. Paul, down from the previous $685-$710/st FOB range.
Northeast:
Phosphate prices FOB East Liverpool, Ohio, were down roughly $10/st, to $740/st for DAP and $730/st for MAP. DAP remained at a low of $680 FOB Fairless Hills for June pull, however, with delivered MAP offers in Pennsylvania quoted at the $730/st level.
Eastern Canada:
New MAP offers in Eastern Canada were pegged at C$1,049-$1,260/mt FOB, depending on location and supplier, down C$20/mt at the high end of the range. DAP remained at the C$1,038/mt FOB level in Montreal.
China:
Sources reported no new public DAP deals, but noted that producers are now offering tons at $470/mt FOB. The drop in pricing was not unexpected. Indian buyers have been especially aggressive in pushing down the price of DAP, and have been successful with each new round of talks. One trader noted that if producers are offering at $470/mt FOB, then buyers are pushing hard on even lower prices.
India:
Sources reported no new spot DAP business. Contract buyers continue to receive their product without difficulty.
Brazil:
The landed price for MAP softened to $470-$490/mt CFR. Sources attributed the decline to full warehouses in Brazil, as well as to reports that China will be making more phosphates, including MAP, available to the global market.
Rondonopolis was reported down to $600-$630/mt FOB ex-warehouse. Sources said the lower prices come as sales continue to lag. The steady downward slide has farmers waiting until the absolute last minute before they commit to a purchase. So far, no one has been able to identify a price floor.
Lithuania:
AB Lifosa has suspended operations at its Kėdainiai production facilities due to scheduled annual maintenance, according to local media reports, citing a company media statement. The company has not indicated when production will resume.
The Kėdainiai plant has suffered several extended outages over the past 18 months, most recently in February and March. Due to payment delays, the result of lengthy sanctions-related procedures for verifying financial transactions, Lifosa has reportedly had issues settling payments with raw material suppliers (GM March 17, p. 11).
The company’s DAP production capacity is rated at 1 million mt/y.