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Writer's pictureAntonia Z

Urea prices generally rose internationally and demand for ammonium phosphate rebounded west of Suez

The changes in prices of urea, ammonium sulfate, ammonium phosphate, Calcium triple superphosphate and potash from June 19 to June 25


Urea


Urea prices generally rose last week, as well as ammonium nitrate prices, but ammonium sulfate and urea nitrate solution remained weak. Traders bought urea supplies globally last week, pushing up trading prices for large pellets in most regions - Baltic FOB prices of $260-280/mt, Egyptian FOB prices of $312-335/mt, Middle East FOB prices of $253-280/mt, and Chinese FOB prices of $308- 310 /mt.


However, the import market is not so active, with prices up and down. Urea prices for large and small pellets in Southeast Asia fell to CFR prices of $300-315/mt, and Brazil was above CFR prices of $290/mt, with transactions stalled.


Ammonium sulfate


Standard caprolactam grade ammonium sulfate from Northwest Europe was priced at $154-163/mt FOB. Granular ammonium sulfate prices rose last week due to new deals and quotations, with an FOB price range of $230-295/mt. Italian ammonium sulfate trade remains weak with FCA prices at 260-270 EUR/mt.


China's ammonium sulfate last week was $100-105/mt FOB. A total of 10,000 to 20,000 mt of caprolactam-grade ammonium sulfate was sold last week at $105/mt FOB and loaded at Fujian ports in July for export by domestic traders. According to market participants, an additional 8,000 tons of ammonium sulfate were sold last week in Southeast Asia at as low as $100/mt FOB, and 5,000–6,000 tons were sold again in India in July at $100–105/mt FOB.


Philippine importer Atlas finished a tender to buy 8,000 tons of standard ammonium sulfate at $90-93/mt FOB for shipment to sangi port by July 20. Raw material prices rose slightly last week, but demand from Brazil remained weak.


Vietnam caprolactam-grade ammonium sulfate was priced at $140/mt CFR to Vietnam, while MMA-grade ammonium sulfate was priced at $108–110/mt CFR.


The domestic demand for ammonium sulfate in Thailand is weak, and the domestic outgoing price of standard ammonium sulfate last week was 5600–5900 THB/t.


Ammonium phosphate


Mainstream market demand picked up west of Suez, with diammonium phosphate prices stable and monoammonium phosphate showing spot demand in Brazil.

In the U.S., DAP barge prices improved to $435–455 per ton FOB NOLA, up from $435-440 per ton FOB last week, and MAP in Brazil was trading at $430 per ton CFR, with Russian products trading at this level in late June and July, down from $430–440 per ton CFR last week.


East of Suez, the CRF for Indian DAP slipped from $469–470/mt to $453–455/mt and may be about to close in this price range. Pakistan's import incentive remains low. Bangladesh's private sector tender for 400,000 mt of DAP is still scheduled for June 25. Chinese FOB prices remain stable due to a lack of sales and limited offers.


Calcium triple superphosphate


Brazilian heavy calcium prices remained at CIF prices of $320–335 per ton.


FOB prices for southern Chinese producers were $300–310 per ton.


Morocco/Western Europe: OCP said it sold less than 5,000 tons of TSP to Western Europe in June at $400–$415 per ton FOB.


Benelux TSP was priced at about €410 per ton FCA.


Potassium fertilizer


ICL announced the renewal of its framework agreement with its Chinese customers for the years 2022 to 2024. The company has agreed to supply a total of 800,000 metric tons of potash to these customers in 2023, with an option for both parties to supply an additional 350,000 metric tons. The agreed price is USD 307 per ton, in line with the recent contract settlement.


With the renegotiation of the Indian contract price, no new vessels emerged from last week's Indian potassium chloride imports. In addition, pending a new contract settlement, FACT cancelled its recent tender order for 30,000 tons of potassium chloride.




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