Price Changes of Urea, Ammonium Sulfate, Ammonium Phosphate, Triple Superphosphate, Potash Fertilizers, and Compound Fertilizers from December 08 - December 15.
Urea:
Due to sluggish demand, urea prices have generally fallen again this week.
FOB prices for granular urea have declined across the board: Qatar's FOB price for a batch in January is $317 per ton, Indonesia's tender price is FOB $321.5 per ton at the highest, and Egyptian producers have reduced their quote to FOB $340 per ton.
CFR prices for small granular urea are also relatively low: CFR prices for the U.S. and Brazil have fallen by about $15 per ton to $320-325 per ton, CFR prices for urea imports in Europe and Turkey are $340 per ton, and the import price for urea on the West Coast of Latin America is CFR $355-365 per ton.
With sufficient urea supply and weak demand in major importing markets such as Brazil, the U.S., Europe, and India, coupled with minimal impact from regional conflicts on supplies from the Middle East and Russia, prices are expected to continue to be depressed.
Ammonium Sulphate:
Northwest Europe: The mood in the European ammonium sulfate market remains soft this week. A fertilizer manufacturer purchased 3,000 tons of standard-grade ammonium sulfate from a caprolactam producer at FOB €180 per ton and shipped it to Europe. The price for granular ammonium sulfate is stable, with FOB prices ranging from $250 to $330 per ton.
China: The FOB price for standard ammonium sulfate in China is $115-120 per ton. Some producers indicate tight supply, with most of the goods expected to be sold out before mid-January. The FOB price for MMA-grade ammonium sulfate is $110 per ton, and the squeezed granular ammonium sulfate has an FOB price of $140-145 per ton.
Philippines: An importer completed a tender to purchase 8,000 tons of standard ammonium sulfate at a low price of $140 per ton, which will be shipped to SANGI port before January 15. These goods may come from China, with an FOB price around $110 per ton and shipping costs of about $25 per ton.
Brazil: Following the downward trend in the urea market, quotes for squeezed granular ammonium sulfate in Brazil have also declined this week. Demand is generally weak, and the overall market sentiment is pessimistic. The CFR price for squeezed granular ammonium sulfate is $165-175 per ton, while the CFR price for standard ammonium sulfate remains stable at $135-145 per ton.
U.S.: Ammonium sulfate prices remained stable this week, with almost no transactions. The FOB price is approximately $300-335 per ton.
Ammonium Phosphate:
This week, ammonium phosphate transactions are mainly concentrated in India and Pakistan, but prices are generally stable.
India: NFL purchased 55,000 tons of Moroccan diammonium phosphate (DAP) at CFR $590 per ton. RCF is seeking to purchase 40,000 tons of DAP and will ship by the end of December.
Pakistan: Ma'aden sold 25,000 tons of diammonium phosphate to Pakistan, with prices possibly between CFR $626-627 per ton.
China: Due to export restrictions, China still cannot supply ammonium phosphate to the international market. However, Chinese buyers have been active in the phosphate rock market, mainly purchasing products from Egypt and Australia.
Brazil: Buyers are adopting a wait-and-see attitude, and no transactions have occurred until stable prices for monoammonium phosphate (MAP) are established.
U.S.: This week, barge prices for monoammonium phosphate and diammonium phosphate continue to rise, at FOB $570-576 per ton and $615-620 per ton, respectively.
It is expected that ammonium phosphate prices will remain stable in the near term, with demand continuing into the first quarter. The Asian market hopes to build inventory before planting, while supplies from China are expected to remain tight.
Triple Superphosphate:
The FOB price for TSP shipped by Egypt's NCIC in December is $440 per ton.
The price for TSP in Brazil has dropped by $10 per ton to $420-430 per ton.
Potassium Fertilizer:
The upcoming holidays have limited the global potassium chloride market. The pressure from low transactions has led to a slight decline in prices this week in Brazil, Southeast Asia, the U.S., Africa, and other regions. In contrast, the mood in the potassium sulfate market remains optimistic due to tight supply and strong demand.
China's potassium chloride port inventory is 2.87 million tons, down by 100,000 tons from last week and 150,000 tons from the end of November. However, it is still 407,000 tons higher than the same period last year.
Brazil predicts that potassium chloride inventory at the end of the year will reach 4 million tons, surpassing the previous estimate of 2.5 million tons. This forecast further reinforces bearish sentiment in the market and once again strengthens buyers' determination to delay purchases.
As Christmas approaches, Western transactions will continue to be slow, leading to stable or declining prices. Some demand may appear in Europe before spring planting.
Compound Fertilizers:
Prices for NPK imported to China and Southeast Asia have started to decline before the start of the first quarter, and prices for deliveries within Europe have also decreased. As the end of 2023 approaches, the flexibility of prices has begun to show.
Compound fertilizer prices are expected to further decline, with a slight decrease in demand in the first quarter of next year.
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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