Central Florida:
The Central Florida DAP range widened to $550-$575/st FOB, a shift from last week’s flat $550/st FOB. MAP trucks continued to be reported at $610/st FOB, while North Florida MAP postings were unchanged at $625/st FOB.
US Gulf:
Sources noted strong spring phosphate demand, with multiple deals reported for delivery in first-quarter 2024. NOLA DAP barges were priced at $545-$570/st FOB, increasing from $545-$565/st FOB at last report. MAP barges moved $5-$10/st higher, to $600-$615/st FOB from the week-ago $590-$600/st FOB.
US Exports:
DAP and MAP exports from the US Gulf were priced at $570/mt FOB for the last reported deals, unchanged from the previous week.
Eastern Cornbelt:
DAP firmed to $610-$625/st FOB in the Eastern Cornbelt on reports of tight supply and slightly stronger NOLA barge values, up from last week’s $590-$600/st FOB range, with the high confirmed at Cincinnati. MAP, by contrast, slipped to $675-$690/st FOB, down $5-$10/st, with both the high and the low reported at Cincinnati.
Western Cornbelt:
DAP jumped to $600-$620/st FOB in the Western Cornbelt, up from last week’s $570-$595/st FOB range, with the low reported at St. Louis. MAP pricing softened to the $675-$695/st FOB range, with the low confirmed at St. Louis and the high reported in Iowa.
Northern Plains:
Tight supply pushed DAP and MAP prices up slightly in the Northern Plains, with the latest St. Paul offers pegged at $620/st FOB for DAP and $685/st FOB for MAP, up from the previous $590-$610/st FOB and $680/st FOB levels, respectively.
Northeast:
DAP firmed to $645/st FOB East Liverpool, up a full $30/st from mid-November. MAP was reported at $705/st FOB East Liverpool, with delivered offers in Pennsylvania pegged at the $710/st level. No MAP is reportedly available at Fairless Hills until February.
Eastern Canada:
MAP pricing tightened to C$960-$985/mt FOB in Eastern Canada, up C$55/mt from last report at the low end of the range. DAP was steady at C$910/mt FOB Montreal.
China:
DAP exports are facing the same restrictions as urea, said sources, and uncertainty surrounding the 400,000 mt of DAP reportedly waiting to be loaded on vessels remains. Sources said the tons that already have both a firm buyer and a vessel nominated will most likely be allowed to ship.
The restrictions on DAP exports are designed to keep as much of the product in China as possible to ensure both a plentiful supply and lower prices for Chinese farmers. Once the material at the ports is cleared out, sources anticipate there will be no new exports until the second quarter of 2024.
India:
The top price that Indian buyers can afford to pay for DAP is $525/mt CFR due to the reduction in subsidy payments, sources said. Unfortunately, the global market has much higher pricing ideas.
Despite numerous arguments for lower prices, the landed price into India remains in the upper-$580s/mt CFR, with sellers pushing for $595/mt CFR. Suppliers seem unwilling to cut India a break. Buyers in Australia, Vietnam, and Thailand appear willing to do business at the higher levels, sources said, and producers are ready to take their money.
Brazil:
Brazil MAP prices lifted $5/mt at the top of the range, to $560-$570/mt CFR from last week’s $560-$565/mt CFR. While buyers are reportedly comfortable at this price, some sellers are pushing for an additional increase.
The Rondonópolis market continued to see low MAP demand during the week, leaving prices steady in the $680-$685/mt FOB ex-warehouse range for both December and first-quarter deliveries. Suppliers with limited availability reportedly pushed offers above $700/mt FOB, but no trades were reported at that level.
MAP imports totaled 4.8 million mt January-November, Trade Data Monitor reported, up 25% from the year-ago 3.8 million mt. November 2023 imports were 495,000 mt, above the 189,000 mt imported in November 2022.