Price Changes of Urea, Ammonium Sulfate, Ammonium Phosphate, Triple Superphosphate, Potash Fertilizers, and Compound Fertilizers from December 22 - January 5.
Urea:
India: On January 4, India's NFL issued a urea import tender with a latest shipping date of February 29. There are a total of 21 suppliers with a combined supply of 2.7198 million tons. The CFR (Cost and Freight) prices are expected to be below $320 per ton on the West Coast and below $330 per ton on the East Coast.
Indonesia: Pupuk company concluded the sales tender for granular urea on January 5.
Brazil: The CFR price for granular urea has risen to $340 per ton, with selling prices ranging between CFR $320-330 per ton.
Urea prices in Europe remain relatively stable. As demand increases, prices in Turkey have risen by about $10 per ton.
Shipping costs in the Baltic Sea may rise further due to ice, and tensions in the Red Sea have caused freight rates from the Arabian Gulf to India to increase.
Ammonium Sulfate:
Europe: The overall liquidity of the ammonium sulfate market in Europe remains relatively weak, with lower overall demand. The FOB price for 6,000-8,000 tons of standard-grade ammonium sulfate shipped in January is 170 euros per ton. A batch of 25,000-30,000 tons of granular ammonium sulfate from Europe is planned to be shipped to the United States in early February.
China: The FOB price for standard ammonium sulfate is stable at $125-130 per ton. In late January, a batch of 6,000 tons of standard caprolactam-grade ammonium sulfate was shipped to Thailand at a CFR price of $155 per ton, with a net settlement price of FOB $130 per ton and a freight cost of about $25 per ton. The FOB price for MMA-grade ammonium sulfate is $115 per ton. The FOB price for extruded granular ammonium sulfate is $145-150 per ton due to sluggish demand in Brazil.
Sri Lanka: An importer received container quotes for standard caprolactam-grade ammonium sulfate from the end of January to early February, with CIF prices of $195-200 per ton.
Vietnam: An importer purchased 6,000 tons of MMA-grade ammonium sulfate at a CFR price of $133-135 per ton for loading in January.
Malaysia: The CFR price for MMA-grade ammonium sulfate is around $120 per ton, while caprolactam-grade ammonium sulfate is around $130 per ton.
Brazil: The overall price of extruded granular ammonium sulfate is stable, with a quoted price of CFR $170 per ton for January delivery, and the CFR price for standard ammonium sulfate is $135-145 per ton.
Ammonium Phosphate:
India: Throughout the fourth quarter, the price of Indian DAP has remained around $590 per ton. Dealers hope to build up stocks before the harvest season from April to September. However, the timing of China resuming exports and the resolution of the Red Sea conflict are still uncertain.
Pakistan: With demand nearing its end, Pakistan's demand for DAP is weakening, and DAP stocks dropped to only 33,000 tons in early December, prompting importers to queue up for new sources.
USA: Domestic prices for NPK rose this week. The price of DAP increased from FOB $570-580 per ton to $575-585 per ton, and the price of MAP from FOB $615-620 per ton to $620 per ton.
Morocco: OCP sold 55,000 tons of MAP (10-50) to Oceania in January, with an FOB price of about $550-560 per ton. These goods are likely to be shipped to Australia.
Saudi Arabia: Ma'aden, taking advantage of its geographical location in the eastern Red Sea, and China's current absence from the international market, sold about 203,000 tons of DAP and 110,000 tons of MAP in January.
Specific sales are as follows:
An Indian importer purchased about 90,000 tons of DAP from Ma'aden, to be shipped in January to the West Coast of India at a CFR price of $595 per ton.
A Pakistani importer purchased 25,000 tons of DAP from Ma'aden at a CFR price of $620 per ton, to be shipped this month.
Ma'aden sold 25,000 tons of DAP to several buyers in East Africa at a CFR price of $590 per ton, mainly from Kenya.
About 110,000 tons of MAP (10-50) were shipped to Australia in two installments.
Provided 45,000 tons of DAP to Bangladesh under a government contract.
South African：The market remains quiet, with stable CFR prices for MAP, but demand is weak as the buying season comes to an end.
Brazil: The CFR price for MAP is $560 per ton.
Argentina: The CFR price for DAP/MAP has risen to $580-590 per ton, and the region faces tight supply.
Paraguay: The CFR price for arriving DAP in January is $640 per ton, and for arriving MAP, it is CFR $655 per ton.
Seasonal demand in the Asia-Pacific region, coupled with the need for stockpiling in South Asia and China's absence, will support prices throughout the first quarter. Brazil may temporarily return to the spot market, but with high existing inventories, importers are not very active, which will keep prices stable.
Triple Superphosphate:
Prices in Brazil at the end of December remain unchanged at $420-430 per ton.
The CFR price for arriving Triple Superphosphate in Paraguay in January is $490 per ton, and the product's prices for March to April arrivals are $485 per ton.
The FOB price for Triple Superphosphate shipped by NCIC in Egypt in January is $445 per ton.
Potassium Fertilizer:
The subdued sentiment at the end of 2023 has continued into 2024, putting pressure on potash prices worldwide due to sustained weak demand.
In terms of potassium sulfate, the price difference between potassium sulfate and potassium chloride is higher than average, making suppliers cautious.
Laos' Opening Year restarted its idle 400,000 tons per year granular potassium chloride plant in 2020. The growing production capacity of Laotian potassium chloride producers may bring more supply to the Southeast Asian market in 2024, changing regional trade and affecting prices.
Global weak demand for potassium chloride will continue to impact prices. New contract prices in India or China are unlikely to be settled soon, further exacerbating market softness. On the other hand, although the price difference between potassium chloride and potassium sulfate is higher than average and may limit price increases, potassium sulfate prices are unlikely to fall due to product scarcity.
Compound Fertilizers:
As suppliers push for sales, the prices of most compound fertilizers will further decline. However, as demand strengthens in various regions, the rate of decline will be small.
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.
Comments