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Mineral fertilizers export and import prices in basic ports (TEXT ADDED) // week 46

21.11.16
10:54

November 18 November 11 w-o-w
Urea - prilled bulk (spot), $/tonne
FOB Black sea* 220 - 225 200 - 210 +17.5
FOB Baltic Sea* 200 - 225 195 - 205 +12.5
FOB China 230 - 240 215 - 220 +17.5
CFR Brazil* 225 - 235 215 - 220 +12.5
AN - bulk (spot), $/tonne
FOB Black Sea*/Baltic Sea 180 - 185 175 - 185 +2.5
CFR Brazil 200 - 210 198 - 200 +6
AS - bulk (spot), $/tonne
(white) FOB Yuzhny* 105 - 110 105 - 110 =
(standard) FOB Kherson 75 - 83 75 - 83 =
UAN - 32% (spot), $/tonne
FOB Baltic*/Black Sea* 130 - 145 125 - 135 +7.5
CFR US East Coast* 160 - 165 160 - 165
DAP - bulk (spot), $/tonne
FOB Baltic/Black Sea 295 - 310 300 - 310 -2.5
FOB Morocco 320 - 325 320 - 335 -5
CFR India 300 - 310 300 - 310 =
МАP - bulk (spot), $/tonne
FOB Baltic/Black Sea 310 - 320 310 - 330 -5
CFR Brazil 330 - 335 330 - 340 -2.5
Ammonia (spot/contract), $/tonne
FOB Yuzhny (spot) 165 - 175 165 - 175 =
FOB Baltic Sea (spot) 175 - 185 175 - 185 =
CFR Tampa/US Gulf 210 210 =
MOP - bulk (spot/contract), $/tonne
FOB Baltic Sea (standard)* 180 - 240 180 - 240 =
FOB Baltic Sea (granular)* 205 - 250 205 - 250 =
CFR Brazil (granular) 225 - 235 225 - 235 =
CFR China (contract, standard) 219 219 =
CFR India (contract, standard)** 227 227 =
CFR Southeast Asia (standard) 235 - 240 235 - 240 =
NPK 16-16-16 - bulk (spot), $/tonne
FOB Black/Baltic Sea* 220 - 250 220 - 250 =
Sulphur - dry bulk (spot), $/tonne
FOB Black Sea (spot/contract) 57 - 65 57 - 65 =
FOB Vancouver 80 - 83 78 - 81 +2
FOB Middle East 82 - 85 82 - 83 +1
CFR China 85 - 90 85 - 90 =

* - reference price

** - price with a 180-day credit

The demand for urea can be called fairly buoyant in the world market in mid-November. The traders are actively buying large lots of this type of fertilizers for further supplies to South and North America, as well as to the European countries and India. As a result, the quotes are on the rise.

The largest North African producers have managed to sell a total of 117,000 t and 12,000 t of granular urea of December output at $240-270/t FOB Egypt and $273/t FOB Algeria respectively; the cargo will be headed to the markets of Western and Southern Europe. Global Transnational have signed several deals for the supply of a total of 45,000 t of urea of Shiraz Petrochemical and KPIC production at $232/t FOB; the entire volume of the cargo will be shipped from Iranian ports to India.

It should be noted that Global Transnational was one of the nineteen traders, who participated in the Indian STC tender. Along with Transagri, the company offered urea at $244-250/t CFR India, while the highest price which was announced at the tender amounted to $265/t CFR India. Considering rather high price level, STC will only be able to purchase a half of the required volume – at best 700,000 t instead of projected 1-1.5 million t, some market players predict.

***

The situation in the market of phosphorous fertilizers remains unfavorable for both producers and traders. They have to cut offer prices in order to sell out the available volumes of the commodity. For example, several lots of DAP of FosAgro production have been sold to the US at $295/t FOB Ust-Luga. FosAgro’s MAP will be supplied to some of the US buyers at $310/t FOB Ust-Luga. In general, the quotes have showed a $2-5/t decrease in both cases compared to the level of early November. The suppliers usually voice higher prices for DAP and MAP to be exported to Europe, Turkey or Brazil. So, DAP with the delivery to the above markets is quoted at $310/t FOB Baltic Sea, while MAP is estimated at $315-320/t on the same basis ($5/t down over the week in both cases). For example, EuroChem has sold a mixed lot of fertilizers to one of Brazilian buyers this week; as part of the shipment, MAP has been sold at $320/t FOB Baltic Sea.

ISM experts predict a steady downward price trend in the market of phosphorous fertilizers. This is due to the fact that Russian producers still have rather large volume of the unsold cargoes, available for shipments in November.

***

Export prices for sulphur have been adjusted in mid-November due to improving demand in Asian countries, particularly in India and China. The quotes are expected to go up further, since the tendency for the development in buying interest will preserve in above regions. Moreover, major market players predict the shortage of Middle Eastern sulphur in the market. This will become another factor to ratchet up the prices. So, quotes for the commodity with shipments to the Asian countries may grow by $3-5/t in the second half of November.

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