Intrepid Potash Inc., Denver, reported first-quarter net income of $2.45 million, up from the year-ago loss of $7.4 million. Sales were up at $71.5 million from $64 million. This included increased potash volumes though Trio volumes trailed the year-ago period.
The Mosaic Co., Tampa, reported first-quarter net income of $157 million, up from the year-ago loss of $203 million. The company missed the Bloomberg Consensus for net income, the average estimate by major analysts, which was $234 million, however, the company reported that earnings were negatively impacted by notable items of $77 million.
Nutrien Ltd., Saskatoon, which has had two plants in Trinidad down due to mechanical issues, reports that as of April 30, all four ammonia plants are operating. However, they are operating at reduced rates due to process constraints. As a result of planned maintenance in late Q2 and in Q4 this year, the company estimates it will achieve production equivalent to three plants for the balance of 2021. Supply could be further reduced in May because of gas curtailments.
To add to its supply,
Nutrien said it has committed to purchase up to 25,000 mt from Yara Freeport in
second half May at the May market price and this will be incorporated into its
vessel shipment program.
The Mosaic Co.’s Faustina, La., fertilizer complex is reported to be offline, according to reliable industry sources, however, the company had not released a statement. There were earlier reports that tight sulfur supplies might impact second quarter DAP/MAP production.
Interoceanic (IOC) on May 3 announced a price increase for PCI Nitrogen’s premium grade granular ammonium sulfate and ammonium thiosulfate, effective immediately. The company attributed the higher prices to strong demand and tight inventories, and said truck, rail, and barge lead times are longer and transit times slower this year.
New ammonium sulfate prices include $275/st FOB NOLA barge; $295/st FOB Houston, Texas; $300/st FOB St. Louis, Mo., and Delta terminals; $310/st FOB Tampa, Fla., and Upper Mississippi and Illinois River terminals; $315/st FOB Ohio River terminals; $325/st rail-DEL in the Southern Plains; $330/st FOB Sioux City, Iowa; and $335/st rail-DEL in the Northern Plains. New ammonium thiosulfate prices include $300/st FOB Houston and $400/st FOB Ohio River terminals.
American Plant Food (APF) on May 3 announced that it is moving all ammonium sulfate prices up to $290-$300/st FOB Freeport, Texas. APF said the increase is due to limited supply and increasing input costs, and follows “one of the most general rains in Texas in 20 years.” The company said NOLA barge quotes reflect $276/st FOB.
