Central Florida:
DAP prices in Central Florida were stable at $530/st FOB, while MAP trucks were reported at $630/st. MAP trucks loading from North Florida held firm at $625/st FOB.
US Gulf:
NOLA DAP barges widened to $523-$550/st FOB from last week’s $525-$540/st FOB range. Prompt loadings set the top of the range, matching prices for upriver trades reported at $550/st FOB. MAP barges changed hands at $600-$640/st FOB, a slight increase from the previous week’s $600-$635/st FOB.
Low river levels left buyers reluctant to commit to prompt shipments, sources said, impacting demand. The Arkansas River, closed since mid-October, was forecast to reopen soon.
US Exports:
With nothing new reported on the DAP and MAP export markets, pricing remained at $570/mt FOB for the most recent business.
Eastern Cornbelt:
DAP and MAP prices remained strong ahead of the fall application season, with DAP quoted at a firm $600/st FOB in Illinois and $605/st FOB Cincinnati for October-November tons. The latest MAP offers were pegged at $695/st FOB Ottawa and $715/st FOB Cincinnati.
DAP and MAP pricing in Michigan included $615/st FOB and $645/st DEL for DAP, and $715/st FOB and $755/st DEL for MAP.
DAP pricing remained in the $590-$610/st FOB range in the Western Cornbelt. MAP was reported at $690-$720/st FOB, depending on location, with the high confirmed in Iowa.
Northern Plains:
DAP pricing at St. Paul was quoted at a solid $600/st FOB in late October, with MAP reported at the $685/st FOB level at that location.
Northeast:
DAP and MAP in the Northeast were up slightly, with the East Liverpool market firming to $615/st FOB for DAP and $725/st FOB for MAP, up from the previous $605/st and $710/st levels, respectively. No MAP was reportedly available at Fairless Hills until February.
“Good demand has pushed prices higher,” reported one regional contact. “Barge transits are very slow and outages are very common right now.”
Eastern Canada:
MAP pricing jumped to C$905-$985/mt FOB in Eastern Canada, up from C$880-$915/mt FOB at last report. DAP was quoted at C$910/mt FOB Montreal during the week, up sharply from the C$825/mt FOB level reported in early October.
China:
The DAP price at China softened to $565-$570/mt FOB based on recent business into India, sources said. At the same time, the netback from a sale into Pakistan showed higher pricing. Due to the large and steady amounts of DAP purchased by India, however, sources gave more weight to the netback from the Indian deal.
Earlier reports that China’s central government would authorize the sale of 1 million mt of DAP are only partially correct, sources said. While the government will allow 1 million mt of DAP, MAP, and TSP to be exported during the last months of the year, 800,000 mt of DAP and MAP have already reportedly cleared the customs inspection process and have been picked up by traders for specific buyers, leaving just 200,000 mt for additional sales.
January-September DAP exports from China firmed 38% year-over-year, Trade Data Monitor reported, to 3.6 million mt from the year-ago 2.6 million mt. India took 2.1 million mt, for 60% of the exports.
Third-quarter exports were reported at 1.2 million mt, down from 1.3 million mt in July-September 2022. September exports of 362,000 mt were off 23% from the 469,000 mt shipped in September 2022.
MAP totaled 1.5 million mt in January-September, unchanged from January-September 2022. Third-quarter exports were 609,000 mt, rising 5% from the year-ago 581,000 mt. China exported 87,000 mt in September, off from the 243,000 mt shipped in September 2022.
India:
Buyers have succeeded in slowly pushing down the price of landed DAP, sources said, with the latest deals reported at $585-$590/mt CFR. Buyers are expected to push for further discounts into the new year.
Recent reports described the Indian government as looking to reduce the amount paid for phosphate subsidies. The new basis price for the Nutrient Based Subsidy program will be $475/mt CFR, sources said this week.
Brazil:
MAP prices in Brazil edged up to $550-$565/mt CFR, with Russian tonnage setting the low end of the range. Few transactions were reported concluding during the week, however.
Market liquidity remained elusive at Rondonópolis, as delayed shipments and low availability have driven prices above typical levels. Most offers were pegged at $685-$700/mt FOB ex-warehouse, unchanged from the prior report.