Price Changes of Urea, Ammonium Sulfate, Ammonium Phosphate, Triple Superphosphate, and Potash Fertilizer from September 15th to September 22nd.
Urea
India: The sharp increase in sales in August and the first half of September increased import demand, and there may be new tenders next week. RCF purchased 525,000 tons of urea on September 15th, which was slightly lower than the expected quantity, at a price of CFR $400.5-405 per ton, slightly higher than the previous tender.
Overall, the price increase depends on the recovery of demand in Brazil and Europe, which is currently lacking.
Brazil: There was lower trading volume this week, but inquiries are starting to increase, and prices have not dropped below CFR $410 per ton.
Ammonium Sulfate
Northwest Europe: Standard ammonium sulfate offshore prices range from $224-235 per ton. Tight supply led to a significant increase in prices in northwest Europe, but reduced demand had little impact on granular ammonium sulfate prices. Granular ammonium sulfate prices remained stable this week at $272-341 per ton FOB.
China: Standard ammonium sulfate FOB prices are $170-175 per ton. One producer sold 15,000 tons of standard ammonium sulfate at $175 per ton FOB for shipment to Brazil in October. MMA grade ammonium sulfate prices remained stable this week at FOB $140-145 per ton. FOB prices for extruded granular ammonium sulphate are $190-195 per ton, with 15,000 tons traded this week for shipment to Brazil in October.
Philippines: Atlas issued a tender to purchase a total of 140,000 tons of standard ammonium sulfate, with 8,000 tons to be shipped to Sangi Port and 6,000 tons to Davao and Bacolod Ports before October 20th. The tender closed on September 22nd.
Indonesia: Pupuk Indonesia purchased two batches of 5,000 tons of standard caprolactam-grade ammonium sulfate at a price of $180 per ton for shipment to Boom Baru Port in November and the first half of December.
Korea: An importer issued a tender to purchase 6,000 tons of standard caprolactam-grade ammonium sulfate, with the tender closing on September 25th.
Brazil: Standard ammonium sulfate CFR prices decreased to $195-200 per ton. Prices increased this week, but buyers did not accept them. CFR prices for compacted granular ammonium sulfate are $210-215 per ton.
United States: On September 19th, U.S. fertilizer distributor Interocean (IOC) raised prices for granular ammonium sulfate from September to December. Shipping prices for ammonium sulfate, including barge freight, are $295 per ton CFR as of October, an increase of $40 per ton from the end of August. Houston CFR prices are $300 per ton, while St. Louis and Delta Ports CFR prices are $330 per ton.
Ammonium Phosphate
India: The Indian government plans to reduce subsidies for diammonium phosphate by 31% in the upcoming rabi season. The proposed new subsidy is 10,100 Indian rupees per ton lower than the subsidy of 32,641 Indian rupees per ton (391 USD per ton) reached in May for April to September. The subsidy is expected to be around $271 per ton. Importers are cautious about new purchases. So far, India has purchased 3.65 million tons of diammonium phosphate for delivery from April to September, higher than the 2.91 million tons during the same period last year. Additionally, 415,000 tons of diammonium phosphate are planned to arrive in October.
Pakistan: The price of diammonium phosphate has risen to $600-605 per ton. The domestic market price for diammonium phosphate in 50 kg bags is 12,000-12,500 Pakistani rupees, but sales have reportedly been at 11,500-11,900 rupees due to lower-than-expected demand.
China: FOB prices for diammonium phosphate in China are $575-580 per ton. One producer sold 20,000 tons of diammonium phosphate at an FOB price of $610 per ton for shipment to Japan in mid-October. However, this price does not represent the current level.
Saudi Arabia: Ma'aden sold 30,000 tons of diammonium phosphate to Pakistan at a CFR price of $600 per ton for shipment in October.
Jordan: The price of diammonium phosphate remained stable this week. JPMC sold diammonium phosphate to Iraq at a price of $615 per ton FOB.
Suez West: After selling 22,000 tons of Russian monoammonium phosphate for October delivery at a CFR price of $535 per ton, monoammonium phosphate prices stabilized. Suppliers have raised quotes to an onshore price of $550 per ton due to low demand despite many imports in the first half of the year. Argentina's monoammonium phosphate/monoammonium orthophosphate onshore prices this week range from $560-590 per ton, and the CFR price for MAP in Paraguay is $600 per ton.
Europe: Prices have risen due to supply shortages, with prices for French diammonium phosphate increasing from $600-610 per ton last week to $580-600 euros per ton (617-639 USD per ton). FCA prices for French diammonium phosphate increased from 580-585 euros per ton to 590-595 euros per ton. Bulk 500-ton diammonium phosphate prices in Romania fluctuated between $640-660 per ton this week, with the high-end price increasing by $5 per ton.
United States: Mosaic raised its prices for diammonium phosphate/monoammonium phosphate to a Tampa offshore price of $570 per ton. Domestic prices for NOlA MAP declined this week. Using the mid-range price, the price range for monoammonium phosphate decreased by $14 per ton from last week to NOlA offshore prices of $620-635 per ton. Diammonium phosphate prices are restricted by Friday imports, with FOB NOlA prices for September delivery at $545 per ton.
Morocco: OCP sold diammonium phosphate and heavy calcium to Western Europe at offshore prices of $580-605 per ton and $425-445 per ton, respectively. The total sales volume per ship is 8,000 tons, all for November shipment. OCP won contracts to purchase 1,024,400 tons of NPSB and 332,300 tons of NPS in the Ethiopian NPSB/NPS tender, according to the Ethiopian Agricultural Business Corporation (EABC) tender on September 8th.
Private sector procurement tenders in Bangladesh and more purchases from India will support prices in the East. Rising prices in Europe will maintain global high levels. Latin America will continue to watch, with buyers waiting for lower prices.
Triple Superphosphate (TSP)
Brazil: TSP CFR prices remained stable at $430-435 per ton.
In France, TSP prices in Rouen for January to February reached as high as 490 euros per ton (equivalent to 522 USD per ton) due to supply shortages.
Potash Fertilizer
The Indian government plans to reduce potash subsidies to 8,120 Indian rupees per ton for the fall-winter season of 2023-2024, down from 9,547 Indian rupees per ton. The substantial reduction in subsidies corresponds to a revised import contract price of $319 per ton for powdered potash, a decrease of $102 per ton from the large contract price signed in April. The $319 per ton price has not been officially confirmed but has been accepted by the market. India's large contract will end on September 30th, and negotiations for a new contract may begin next week.
Private sector tenders for powdered potash in Bangladesh for October delivery, with an unspecified quantity, closed on September 24th.
The recovery in demand in Brazil by the end of the year will support current price levels. The Southeast Asian market is transitioning from stable to firm, with prices expected to rise slightly as demand gradually increases.
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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