Central Florida:
Central Florida DAP trucks were posted at $500/st FOB, unchanged from the prior report. MAP trucks were offered at $550/st FOB, also steady from last week. North Florida MAP postings continued at $600/st FOB, sources said.
US Gulf:
NOLA DAP barges climbed to $500-$515/st FOB, above the last-reported $470-$500/st FOB range. MAP barges also moved higher, to $580-$600/st FOB from the week-ago $535-$585/st FOB.
US Exports:
Export DAP and MAP prices lifted to $480/mt FOB on reports of limited third-quarter availability and small-volume sales. The market was previously noted at $470/mt FOB.
Eastern Cornbelt:
DAP and MAP prices remained strong in the Eastern Cornbelt, fueled by firming NOLA barge values and reports of tight supply for the fall application season. DAP was pegged at $535-$560/st FOB, with the low reported in Illinois and the high at Cincinnati, reflecting a $10/st increase from last week’s Cincinnati price.
MAP pricing jumped to $635-$645/st FOB in the region, up from last week’s $595-$625/st, with the low reported at Cincinnati and the high in Illinois. MAP offers out of Michigan warehouses were quoted firmly in the $645-$655/st FOB range during the week.
Western Cornbelt:
DAP remained at $540-$560/st FOB in the Western Cornbelt, with the lower end of the range reported at St. Louis. MAP pricing strengthened to $630-$650/st FOB in the region, up from last week’s $590-$630/st, with the low again confirmed at St. Louis.
Northern Plains:
DAP prices firmed to $565-$575/st FOB St. Paul, with the latest MAP offers jumping to the $650-$660/st FOB level at that location.
Northeast:
Phosphate prices continued to climb in the Northeast. The latest offers were quoted at $575/st FOB for DAP and $655/st FOB for MAP at East Liverpool, up $10/st from the previous week.
Eastern Canada:
MAP was quoted at C$880-$925/mt FOB in Eastern Canada, down from the previous C$1,010-$1,260/mt FOB range. DAP pricing slipped to C$825/mt FOB Montreal, down sharply from the prior C$1,010/mt FOB level.
China:
A DAP sale to Thailand at $500/mt CFR showed a netback to China of $480-$490/mt FOB. Sources said this level was used as the basis to boost prices to India. Producers are now reportedly quoting an Indian landed price of $530/mt CFR, for a netback of $500-$510/mt FOB China.
Producers argue the higher price is justified by limited supply and steady demand. Only about 100,000 mt are available for export from China during the third quarter, YUC reported. Most of that amount is already spoken for, sources said, leaving small amounts for spot deals. There are expectations, said one trader, that the price could soon hit $550/mt FOB.
Some buyers already have deals with producers for small lots. These buyers picked up their material in the $360s/mt FOB some time back. Now that the loads are ready for shipment and prices are spiking, some are concerned the producers will call their product back in the hopes of reselling it at the current higher prices. No cargoes have been called back so far, sources said, but traders noted the concerns are well-founded based on past actions.
India:
The week started with DAP offers into India at $480/mt CFR and closed with traders talking about $530/mt CFR. While no deals were concluded at the higher level, sources said the Chinese price of $480-$490/mt FOB puts the landed price at $495-$510/mt CFR India.
At this point, buyers are pushing back and sellers are digging in their heels, sources said. In the end, said one trader, India needs the DAP, so it will most likely have to concede to the higher prices.
Brazil:
MAP prices lifted to $490-$500/mt CFR in Brazil. Russian tons were reported setting the bottom of the range, while other origins dominated the top. Sources quoted NPs available from China priced equivalent to $470/mt CFR MAP, putting a cap on prices.
Citing little MAP availability at Rondonopolis, sources reported prices firming to $640-$650/mt FOB ex-warehouse. The narrow range included pricing for both prompt and forward deliveries.