Nitrogen fertilizer: Eastern markets are hotter

India closed its latest tender to buy urea on July 22, but the offer is unknown. The supplier's guess is that the minimum price will be slightly less than $520 (tons, the same below) CIF. This has a price increase of $5 to $15 for previous tenders. This is the highest price India has offered to most suppliers around the world.

The supply from China is still unclear, but it is estimated that the supply will increase. It is reported that 10 batches of Chinese urea (about 500000 tons) may be shipped to India in August. The export price is about $30 higher than the Chinese domestic market. This is suitable for Chinese urea manufacturers. If there are no other factors, the demand in India and its surrounding areas can be borne by Chinese manufacturers.

Markets in other regions were illiquid and prices were somewhat weak in some markets in the Americas. Buyers expect this trend to hold.

Procurement in India

In the second half of the year, India's procurement will have a greater support for the eastern market.

China

The possibility of government restrictions on exports is a market concern and is not yet a fact. But prices are therefore bullish.

Brazil

The market is slow and the arrival time is very long, but new purchases from September to October have not yet appeared, and the market is waiting.

market expectations]The western market is cooler than the eastern market, but prices are not expected to fluctuate much.

Phosphate fertilizer: Brazil monoammonium weak China diammonium firm

The gap between the major diammonium phosphate and monoammonium phosphate destination markets narrowed in the previous week, with diammonium phosphate prices firming, while monoammonium phosphate in Latin America weakened slightly. But the price movement is also small.

Brazilian monoammonium phosphate purchases slowed, overall demand was sluggish, and market participants' sentiment was cold. The price fell to $760-770 (tons, the same below) CIF. But there is still demand in Latin America until the application season arrives, and more purchases are expected in the coming weeks, especially in Argentina.

East of suez, the price of diammonium phosphate in china held firm after weeks of small fluctuations, rising above $570 fob for the first time in nine years. One deal was completed out of Pakistan at $614 CIF. No new transactions occurred in India and DAP prices remained at $628 CIF.

Brazil New Orleans monoammonium premium $60

Brazilian monoammonium phosphate spent much of the previous week at a premium of nearly $60 to the price of the New Orleans in stock. This discrepancy led sellers to ship products from the United States to Brazil.

OCP Strengthens Monoammonium Phosphate Shipment in July

Moroccan producer OCP is once again focusing on monoammonium phosphate shipments this month. By the end of the month, more than 400000 tons of monoammonium phosphate shipments are scheduled to depart from the port of Jorf Lasfar in Morocco, accounting for more than half of the total planned shipments.

market expectations]A round of buying is expected in Latin America ahead of the soybean fertilizing season. Indian buyers will enter the market to purchase, and Pakistani buyers will also purchase before the peak demand in the fourth quarter. Demand is supportive of current market trends and prices.

Potash: Prices rise in Brazil and Southeast Asia

Compared with other regions, buyers in Southeast Asia have been resisting the sharp rise in potash prices for a long time, but the price of standard potassium chloride rose by US $100 (ton price, the same below) in the previous week, and the price of large particles of potassium chloride rose by 95 US dollars. The weekly increase for Brazilian buyers has declined, but the trend of price increases will continue.

Potassium sulfate supply tight

In Europe, the long lead times for potassium sulfate due to large demand and container shortages are a problem for some buyers around the world. Taiwan suppliers have announced a halt to export transactions of large-grain potassium sulfate in the fourth quarter due to the rapid increase in the prices of potassium chloride and other raw materials.

Indian buyers struggle to find potassium chloride

Indian buyers of potassium chloride have been struggling to find sources. Market participants expect a new round of contract negotiations to take place in the fourth quarter, with prices well above the current CIF level of $280.

market expectations]The upward trend in prices remains, but the rate of price increases is slowing down in some adverse weather, falling crop prices and reduced demand in areas where potash prices are considered too high. Potassium sulfate supplies will be tightened, deliveries will be affected in many ways, order prices are increasing, and shipping and delivery cycles will be extended.

Compound fertilizer: bullish sentiment exists

Late a week ago, South Korea Agrifields sold 25000 tons of Indonesian NPS(20-20-0 13S) to Indian Chambal. These goods were shipped at the end of July at a price of US $440-443 (ton price, the same below) duty-free CIF, up US $5-8 from the last NPS sold to India. Saudi Ma'aden sold 25000 tonnes of NPK(10-26-26) to Indian buyers at about $510 CIF, an increase of $45 from the last order for India in early June.

Currently, Indian importers expect greater import volumes. They are willing to accept higher prices for this. The last Russian sale to India, completed at the end of April, was $52 below this price. Although the price of the latest order has increased a lot, Russian suppliers are still not satisfied with it. They are more concerned about the market in other regions because the prices in these places are higher.

The previous week, Russia Phosargo sold 14000 tons of NPK(15-15-15), scheduled for shipment from August to September, at a price of US $503-505 CIF Brazil. This is the first time that a rollover price has been traded since April, indicating that the upward pressure on prices that has continued to rise since the beginning of the second quarter may be easing.

African bidding season arrives

Africa is entering a major bidding season that begins in August. East Coast has already announced several NPK procurement tenders, and several more are expected in the coming months, including EABC's NPS procurement tender in Ethiopia, which could exceed 1 million tonnes.

market expectations]

The European summer market is stable. And most suppliers sold out in August, which helped keep prices stable. As raw material prices continue to rise, underlying bullish sentiment remains. Source: Agricultural Guide