Central Florida:
Central Florida DAP prices fell $10/mt at the top range, to $530-$550/st FOB from $530-$560/st FOB at last report. MAP trucks were quoted at $630-$650/st FOB. White Springs, Fla., MAP postings were unchanged at $625/st FOB.
US Gulf:
NOLA DAP barges were reported at $525-$540/st FOB in a thinly traded market, rising from the previous $520-$540/st FOB, while upriver barges and warehouse tons were priced at a $550/st FOB NOLA-equivalent. March 2024 barge transactions were noted in the $515-$520/st FOB range.
Availability of NOLA MAP barges remained limited, with no trades confirmed for the week. Offers were reported in the $600-$630/st FOB range, down from last week’s $600-$640/st FOB, while warehouse prices and upriver barges carried pricing equivalent to $650/st FOB NOLA.
US Exports:
Sources reported no new DAP and MAP export transactions, leaving prices unchanged at $570/mt FOB.
Eastern Cornbelt:
DAP was steady at $590-$605/st FOB in the Eastern Cornbelt, with Cincinnati pricing quoted at the $600-$605/st FOB level. MAP was pegged at $695-$715/st FOB in the region, with the Cincinnati market reported at $700-$705/st FOB in early November.
DAP remained at $590-$610/st FOB in the Western Cornbelt, with the St. Louis market quoted at the $590-$600/st FOB level. MAP was reported at $685-$720/st FOB in the region, with the low at St. Louis and the high confirmed in Iowa on a spot basis.
California:
MAP pricing remained at a firm $750/st FOB or DEL in California in early November.
Pacific Northwest:
MAP was quoted at $720-$740/st FOB or DEL for prompt tons in the Pacific Northwest in early November. Reports of business at the $695-$705/st DEL level were also confirmed for 1Q tons.
Western Canada:
MAP inched up to C$1,070/mt FOB for December-January tons in Western Canada, with delivered pricing pegged in the C$1,050-$1,060/mt range.
China:
All phosphate-related fertilizer exports are now halted in China unless permission to export has already been granted. The action is similar to the restrictions on urea exports.
The policy replaces the previous quota system that allowed limited exports through the end of the year. Tonnage that remains under the inspection process but has not yet been approved for export will not be allowed to be shipped.
There were no comments from traders on how the move will affect the global price of DAP. India has slowed its DAP import demands, as have other regional buyers. The lack of any major demand is leaving the price at China in the upper-$560s/mt FOB. Even if producers offered lower prices or more product, one trader noted, finding the product a home in the global market would be difficult for the next few months.
India:
Sources said the Indian DAP import season is pretty well done. No new purchases are expected as buyers wait to receive previously ordered tons, leaving prices in the upper-$580s/mt CFR.
The price of imports is running up against a reduction in subsidies that sets the country’s highest price at $485/mt CFR. Importers looking to top off their orders are now said to be bidding at this level, which is more than $100/mt off the current price, with no takers from either Chinese or Arab suppliers.
Brazil:
Landed MAP prices firmed slightly due to thin supply, to $560-$565/mt CFR from last week’s $555-$560/mt CFR. Forward offers were quoted at $580-$590/mt CFR.
MAP pricing continued to show strength at Rondonópolis, with most indications pushing above $700/mt FOB ex-warehouse. A handful of lower offers remained available, however, placing the market at $690-$710/mt FOB.
MAP imports firmed 18% in January-October, Trade Data Monitor reported, to 4.3 million mtfrom the year-ago 3.6 million mt. Russia sent 2 million mt, followed by Morocco with 1.3 million mt. October imports were 467,000 mt, up from the 261,000 mt received in October 2022. Morocco sent 217,000 mt for the month, while Russia added 116,000 mt.