Price Changes of Urea, Ammonium Sulfate, Ammonium Phosphate, Triple Superphosphate, and Potash Fertilizer from October 13th - October 20th
Urea
In the past week, the urea market remained weak with low demand.
India: On October 20th, India's IPL issued an import tender for urea, with 21 suppliers offering a total supply of 4.049 million tons. The lowest CFR prices were $404 per ton on the East Coast and $400 per ton on the West Coast.
Brazil: Urea trade volumes surged this week, exceeding the total of the previous four weeks. However, due to intense competition among traders and producers in the region, prices fell by nearly $20 per ton this week.
Seasonal growth in demand and energy costs may directly affect price support in the future, but upward potential seems to be limited due to weak grain prices and conservative purchasing patterns in various markets.
Ammonium Sulfate
Northwest Europe's prices remained stable this week with minimal trading activity.
In Belgium and France, Phosagro is selling granular ammonium sulfate in the market at prices of €270-275 per ton (Antwerp) and €250 per ton (La Pallice). In southern Spain, the FCA price for 25 kg bagged standard ammonium sulfate is €210-220 per ton.
China: The FOB price for standard ammonium sulfate is $170-175 per ton, remaining stable compared to last week. Procurement inquiries slowed down this week as market participants awaited the results of India's urea tender. Most of the supply for ammonium sulfate deliveries in October has already been sold out. The FOB price for MMA-grade ammonium sulfate is $145-150 per ton. Squeezed granular ammonium sulfate FOB prices are $192-195 per ton.
Philippines: An importer issued two tenders, one for the purchase of 8,000 tons and the other for 6,000 tons of Caprolactam grade ammonium sulfate, to be delivered to Sangi, Davao, and Bacolod ports by November 15th. Reportedly, the importer canceled the tender for 6,000 tons of ammonium sulfate, while the tender for 8,000 tons concluded at a CFR price of $185-190 per ton.
Brazil: This week squeezed granular ammonium sulfate prices were $217-220 per ton. A Chinese producer sold 70,000 tons at a CFR price of $217 per ton for delivery to two discharge ports in early November.
Ammonium Phosphate
India: The CFR price for diammonium phosphate (DAP) remains stable at $594-595 per ton. The National Fertilizers Limited (NFL) purchased 55,000 tons of Chinese DAP from a trading company at a CFR price of $595 per ton for delivery next month.
Pakistan: An importer purchased 25,000 to 27,000 tons of Chinese DAP at a CFR price of approximately $612 per ton, consistent with earlier quotes. Domestic DAP prices remain stable, with the main suppliers' prices at 12,000 rupees per 50 kg (excluding Karachi).
China: The price of diammonium phosphate remained stable this week at $580-585 per ton. One producer this week exported small quantities of DAP to Southeast Asia in containers at an FOB price of $600 per ton. Some manufacturers have sold out their November shipments of monoammonium phosphate (MAP), and overall export supplies are tight for the remainder of the fourth quarter. Due to weak demand, TMAP prices have decreased. The main quotes are at $760-770 per ton FOB, lower than last week's $780 per ton or so.
Egypt: The latest FOB price for diammonium phosphate remains stable at $620-625 per ton.
Saudi Arabia: Ma'aden's low-end DAP FOB price has risen to $580 per ton.
Israel: Ashdod port is operating at full capacity, but ships docking at the port now incur additional charges due to the conflict between Israel and Gaza.
Brazil: The CFR price for monoammonium phosphate (MAP) increased by $10 per ton to $560 per ton.
Argentina: The CFR price for diammonium phosphate is $580 per ton, but no transactions were concluded due to the sluggish market.
Europe: Due to supply shortages and limited carryover stocks, the price of diammonium phosphate remains robust, at least until the end of this year. Especially, OCP in Morocco will provide significant support to December DAP prices. Lithuania's Lifosa plant remains in a shutdown state, leading to a shortage of over 600,000 tons per year of DAP in Europe. Some Egyptian cargoes from NCIC are being shipped by trading companies to European markets like Italy, but the quantities are limited to less than 10,000 tons. The Nordic markets seem to be tightening further, with importers and suppliers expecting a new round of purchases in February to March.
A German supplier stated that the FCA price for bulk diammonium phosphate has risen to $665 per ton; the sales price for bulk bags of diammonium phosphate in Poland is $680 per ton; the CIF price for diammonium phosphate in Spain is approximately $670 per ton, with current supply shortages; the Romanian diammonium phosphate price has fallen by $10 to $620-640 per ton; an Italian trading company is selling diammonium phosphate at $650-655 per ton CIF Ravenna; in Turkey, the untaxed price for Russian diammonium phosphate is $575-590 per ton CFR, equivalent to $612-628 per ton CFR after import duties.
USA: Mosaic continues to offer diammonium phosphate/monoammonium phosphate (DAP/MAP) at a price of $570 per ton FOB Tampa. Prices have dropped this week for the domestic market in the USA due to limited demand. The FOB price for diammonium phosphate (DAP) from Norfos is down from $530-545 per ton last week to $525-540 per ton. The FOB price for monoammonium phosphate (MAP) from Norfos is also down from $600-647 per ton FOB to $600-635 per ton FOB.
Triple Superphosphate
Morocco's OCP sold approximately 6,000 tons of Triple Superphosphate to Western Europe in October to November at a high-end FOB price of around $460 per ton.
The price of Triple Superphosphate in Brazil has risen by $20 to $430-450 per ton.
Potassium Fertilizer
Global potassium (potash) prices remained stable this week due to lower trade volumes in major markets like Brazil and Southeast Asia. However, strong demand for potassium sulfate (sulfate of potash) continued to drive prices up in Europe and Asia.
K+S set the CIF price for its November shipment of Korn potassium chloride to Germany at around €287 per ton, depending on quantity and destination.
In the coming weeks, shipments to Ashdod are fully booked, but vessels docking at the port will face surcharges due to the risks associated with the Israeli-Palestinian conflict.
The uncertainty caused by the Israeli-Palestinian conflict has somewhat solidified market sentiments. By year-end, most manufacturers have low inventories, which should help support current price levels.
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