Price Changes of Urea, Ammonium Sulfate, Ammonium Phosphate, Triple Superphosphate, Potash Fertilizers, and Compound Fertilizers from April 12 to April 19.
Urea
This week, urea prices showed a downward trend compared to last week, although the rate of decline has slowed.
Brazil: Urea prices have been relatively stable; a trading company recently set the selling price for large granular urea at CFR $315-320 per ton, up from $290-300 per ton at the beginning of the week.
USA: The FOB price for urea in Nola is maintained at $305-310 per ton, up from the low of $285-295 per ton on April 10th. The Central American fertilizer trader Incofe purchased urea of various granule sizes at a tender on April 17th, with prices at CFR $330 per ton and CFR $320 per ton, respectively.
Middle East: The spot price for large granular urea in the Middle East has dropped to FOB $280-295 per ton. In North Africa, particularly Egypt's urea exports to Europe, prices also show a downward trend, now at FOB $295-305 per ton, down $15 per ton from last week.
Market participants are closely monitoring China’s urea export policies. With the potential resumption of Chinese urea exports, domestic urea prices in China significantly rose last Friday. This impact may further delay urea exports.
Despite the influence of European market sentiment and rising natural gas prices, international urea prices are expected to remain stable. However, the market is fundamentally weak, with Egypt, Algeria, and Nigeria still having significant unsold inventories. Production pressures are relatively low in the Middle East and Southeast Asia, but the anticipated resumption of urea exports from Indonesia and China in May is expected to exert downward pressure on prices in the medium term.
Ammonium Sulphate
Northwestern Europe: The FOB price for standard ammonium sulfate is $149-165 per ton. The FOB price for granular ammonium sulfate ranges from $229-304 per ton, and producers do not anticipate further price reductions.
China: The FOB price for standard ammonium sulfate remains steady at $116-121 per ton. This week, 8,000 tons of caprolactam-grade ammonium sulfate were traded at FOB $120 per ton, scheduled for shipment in May. The FOB price for MMA-grade ammonium sulfate is $105-110 per ton, while the price for compacted granular ammonium sulfate is $130-135 per ton, influenced by rising prices for coking-grade ammonium sulfate and resulting in higher production costs.
Sri Lanka: An importer received quotes for bulk standard and granular ammonium sulfate at $170 per ton and $190 per ton, respectively.
Pakistan: An importer is seeking ammonium sulfate for shipment in May, with an expected CFR Karachi price of $150 per ton. Pakistan may need to purchase approximately 200,000 tons of ammonium sulfate this year.
Vietnam: An importer received quotes for MMA-grade ammonium sulfate at $120-123 per ton. The domestic price for standard ammonium sulfate from China ranges between 3800-4300 Vietnamese doing per kilogram ($150-169 per ton), while the price for Japanese-produced ammonium sulfate ranges from 4300-5500 Vietnamese dong per kilogram ($169-217 per ton), depending on the granule size.
Malaysia: An importer purchased 25,000 tons of standard ammonium sulfate at a CFR price of $130 per ton, with plans to ship in the latter half of May.
Brazil: The market activity remains generally quiet as buyers watch price trends. The current bid price for standard ammonium sulfate in Brazil is approximately CFR $140-145 per ton, while the bid price for compacted granular ammonium sulfate is about $150-155 per ton, with a delivery price of $157 per ton for October.
USA: Strong market demand has led to an increase in domestic ammonium sulfate prices, but limited supply in Nola has hindered liquidity. The FOB Nola price is $385-405 per ton.
Ammonium Phosphate:
In India, the price of diammonium phosphate continues to decline, with recent transactions as follows:
1. NFL purchased 50,000 tons of DAP from Midgulf at a price close to $545 per ton during a tender on April 9, with shipment expected in April. Among the three bids received, the highest was CFR $559 per ton.
2. On the same day, GSFC concluded its tender for 50,000 tons of DAP with the lowest bid at about CFR $542 per ton. GSFC then asked the three trading companies that initially bid to revise their quotes and doubled the quantity to be purchased to 100,000 tons. The revised lowest bid was reported to be around CFR $530 per ton.
3. RCF concluded its tender on April 12, which included the purchase of 44,000 tons of DAP (15.5-44-0) or monoammonium phosphate (MAP) (10-50-0).
China: the FOB-price of DAP further decreased to $530-535 per ton. A producer offered MAP (11-52) to Brazil at CFR $570 per ton, but it has not yet been sold. The FOB-price for powdered MAP (11-44) decreased by $5 to $445 per ton, and the FOB-price for granular MAP (10-50) is $490-495 per ton. The FOB price for industrial-grade MAP sent to Pakistan has dropped to $770-780 per ton.
Southeast Asia: the delivered CFR price of DAP has fallen to $550-580 per ton. With China re-entering the market, especially for shipments to Southeast Asia in May, prices are under significant pressure and are expected to decline further in the coming weeks.
Indonesia: Pupuk Indonesia concluded a tender for 20,000 tons of 18-46 DAP with the lowest bid at CFR $530 per ton.
Thailand: the price of DAP from China recently dropped from $580 per ton to $560 per ton. With the major demand season approaching, Thai importers have sufficient stock, making it unlikely they will enter the import market in the short term.
Vietnam: the FOB-price for DAP (15-45) is stable at $535-540 per ton, while the import quote is approximately $560 per ton CFR.
South Korea: the import volume of DAP was 7,500 tons in February, with 6,000 tons coming from China and the remainder from Vietnam. Since the beginning of this year, South Korea has imported nearly 22,000 tons of DAP, 79% of which came from China. In comparison, the import volume was 30,000 tons in the same period of 2023 and 34,000 tons in 2022.
United States: Due to accelerated market activities and warmer weather, demand is expected to continue to grow, leading to a rise in phosphate prices this week. The FOB price for diammonium phosphate (DAP) in Nola has increased by $22.50 per ton to $535-550 per ton, and the FOB price for monoammonium phosphate (MAP) in Nola has risen by $10 per ton to $510-550 per ton.
Saudi Arabia: Ma'aden has sold 80,000 tons of MAP to Brazil, with prices remaining stable this week at CFR $570-572 per ton. The price for MAP (11-44) has also been maintained at $475-480 per ton.
Paraguay: In March, Paraguay imported 5,700 tons of MAP, almost all from the United States. So far this year, the total import volume has reached 33,500 tons, with 58% coming from the United States and 23% from China.
Germany: The FCA price for DAP remains stable at €590-600 per ton. The import volume in February was close to 14,000 tons, mainly supplied by Morocco and Russia. To date this year, the total import volume has reached 31,227 tons, with 70% coming from Morocco.
France: The FOB price for DAP is €615 per ton. In February, France imported 14,664 tons of DAP, mostly supplied by Morocco. So far this year, the import volume has reached 38,900 tons, with 80% provided by OCP, and Egypt and Tunisia accounting for 9% and 5%, respectively.
Spain: The price of DAP is €615-620 per ton, with limited supply. The import volume in February dropped significantly to just 4,000 tons, approximately 75% of which came from Morocco.
Italy: The price of DAP is between €605-610 per ton. In February, Italy imported over 35,000 tons of DAP, with 29,000 tons supplied by Morocco and the remainder by Tunisia. So far this year, the import volume has exceeded 74,000 tons, with 52% supplied by Morocco, 33% by Russia, and 8% by Tunisia. This is a significant increase compared to 19,000 tons in the same period in 2023 and 16,000 tons in 2022.
Morocco: OCP sold 5,000 tons of DAP to Western Europe during April-May, with FOB prices ranging from $595-610 per ton.
With other African countries adopting a wait-and-see approach, the price of DAP in India is expected to continue to fall. The demand season in Australia and Southeast Asia has ended. The European market is not very active, and Chinese producers will attempt to stabilize DAP production to counteract market short-selling by traders, but it is expected that increased supplies of DAP and MAP after May will depress prices further.
Triple Superphosphate:
China: A small batch of 44% TSP was sold to Indonesia at an FOB price of $385 per ton, scheduled for shipment in May. Brazil purchased 6,000 tons of 45% granular TSP at a CFR price of $410-415 per ton.
United Kingdom: The price of TSP is £405-410 per ton, with bagged delivery priced at £425 per ton.
Belgium, Netherlands, Luxembourg: The FCA price for TSP is approximately €470 per ton.
Germany: The FCA quote for TSP is around €465 per ton.
France: The price of TSP is approximately maintained at CFR €480 per ton.
Brazil: The price of TSP remained stable this week at CFR $420-425 per ton
Potassium Fertilizer:
This week, the global potash fertilizer market has been relatively calm, especially in Brazil, where market activity has slowed compared to February and March. The buying seasons in Europe and the United States have ended, leading to some price declines.
EuroChem has started construction of a new facility at its Usolskiy mine that will produce 1.8 million tons of potassium chloride annually. The facility is expected to be completed by 2027, at which point the company's potash fertilizer capacity will increase to 4.7 million tons per year.
Before the announcement of new contract prices in India, the global potash market, particularly in the Eastern markets, will largely be in a wait-and-see mode. In the West, the demand season in the United States and Europe has ended, but there remains more demand to be met in Brazil.
Compound Fertilizers:
Northern Europe: Despite improved weather conditions, prices for NPK (15-15-15) have begun to decrease due to suppliers wishing to clear remaining stock. The FOB price is currently at €415-420 per ton.
China: Due to a weak domestic market, the price of NPK (16-16-16) has also further declined to a CFR price of $370-390 per ton.
India has not seen any new significant trade activities this week. However, the demand for key nutrients nitrogen, phosphorus, and potassium remains strong, and imports from Russia are likely to continue. The anticipated decrease in demand and an increase in offers from China are expected to weaken the overall compound fertilizer market.
Attention: The above price information is for commercial reference only due to the diversity of information collected, and Kelewell is not responsible for the authenticity of the data.
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