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Latest Market News

South Korea's sulphuric acid exports fall in September

  • Spanish Market: Fertilizers
  • 19/10/21

South Korea's sulphuric acid exports slid by 13pc in September compared with a year earlier, driven by falling deliveries to China and Chile.

Exports to China fell by 50pc on the year to 36,600t as Covid-19-control measures at major ports like Changjiangkou constrained vessel availability last month. Exports to Chile fell by 39pc on the year to 34,100t, despite the 800,000 t/yr Altonorte copper smelter in northern Chile undergoing maintenance during the month. Sulphuric acid exports to India held stable at 80,000t, with momentum likely to pick up in the fourth quarter during the sugarcane planting season.

Exports over the first nine months of the year fell by 14pc on the year to 1.99mn t, with deliveries to main destinations Chile, China and India declining compared with the same period last year. Shipments to Chile and China fell on the year by 25pc and 23pc to 382,500t and 300,600t respectively, while exports to India dropped by 12pc to 500,300t.

By Deon Ngee

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09/06/26

US urea exports to Canada rise to record in April

US urea exports to Canada rise to record in April

Houston, 9 June (Argus) — The US exported a record amount of urea to Canada in April, boosted by first-quarter production outages and spring maintenance at Canadian plants. US urea exports to Canada in April rose to 144,619 metric tonnes (t), up by 99,086t, from the same period last year, according to US Census Bureau data. Exports to Canada were 94,946t higher than the five-year average for April and were the highest for any month in records dating to 2008. Canada's pull on US supplies stems from production downtime in the winter across multiple nitrogen plants when Canada already had limited supplies carried over from the previous fertilizer season. Adding to downtime, Nutrien's Carseland, Alberta, plant had a turnaround start in April and Yara's Belle Plaine, Saskatchewan, site started its turnaround in late May, curtailing availability through Canada's spring and early summer applications. The US has generally been a net importer from Canada, with the 2022-2023 and 2024-2025 fertilizer years — which run from July through June — being an exception. The US appears to be on its way to another year as a net exporter to Canada in 2025-2026 year as well. By Sneha Kumar Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Brazil's sulphur imports hit 21-year low in May

08/06/26
08/06/26

Brazil's sulphur imports hit 21-year low in May

Sao Paulo, 8 June (Argus) — Brazil imported 59,090 metric tonnes (t) of sulphur in May, a 72pc drop from a year earlier and the lowest level since 2005 as global availability is tight and prices are historically high, according to the Global Trade Tracker (GTT) latest data. Turkmenistan was the main supplier in the month, sending 53.5pc of the total, or 31,600t. The US followed with 34pc, or 20,095t. Turkey supplied 10pc, or around 5,950t. Availability has been tight in the global market since last year, redefining trade flows and pushing prices upwards. The war in the Middle East has also furthered the tight availability. Brazil imported 630,090t of sulphur in January-May, a near 46pc drop from a year before and the lowest level since 2009, when Brazil imported almost 544,920t. Kazakhstan was the main supplier, accounting for 39pc of the total, or 247,555t. The US was the second largest supplier with 22pc the total, or 137,740t. Turkmenistan followed with 14pc of the total, or 89,600t. India sent 8.8pc of the total, or 55,320t. Sulphuric acid imports up in May Sulphuric acid imports more than doubled in May from the same month last year to 79,790t, the highest volume since 2022, GTT data show. Spain was the main supplier in the month, accounting for 35pc, or 27,960t, of the total volume. Finland sent 25pc, or 19,800t. Italy followed with 24pc, or 19,350t. South Korea sent 15pc of the total, reaching 11,780t. Brazil imported 323,005t in January-May, a 69pc increase from the same period a year earlier. Brazil's main supplier in the period was Belgium, accounting for almost 33pc of the total, or 105,590t. Spain sent 22.5pc of the total, or almost 73,015t. Italy followed with approximately 18pc, or 57,065t. Finland sent around 16.5pc, or 53,040t. Turkey accounted for 5.8pc, or 18,700t. By Gisele Augusto Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

India’s NFL issues tender for 100,000-120,000t DAP

08/06/26
08/06/26

India’s NFL issues tender for 100,000-120,000t DAP

London, 8 June (Argus) — Indian fertilizer importer NFL has issued a tender to buy 50,000-60,000t of DAP for the east coast of India and the same volume for the west coast, closing on 10 June. The importer asked for shipment by 31 July from the port of loading, with offers to remain valid until 19 June. Offers should be for at least 25,000t, and the DAP is requested as black, brown or "natural coloured". A major Indian importer last week bought 100,000t of Moroccan DAP at $930-935/t cfr on the spot market, in line with prevailing prices over most of May. By Adrien Seewald Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Iran says suspends military operation against Israel

08/06/26
08/06/26

Iran says suspends military operation against Israel

London, 8 June (Argus) — Iran has suspended its attacks on Israel, state media said today citing the Islamic Revolutionary Guard Corps (IRGC). Crude prices pared some earlier gains. The IRGC said it has suspended military operations that saw ballistic missiles fired at targets in northern Israel. This was Iran's first attack on Israel since 8 April, and promoted retaliatory airstrikes by Israel on what it said were military targets in western and central Iran. "Any continuation of [Israeli] hostilities and wrongdoing — particularly in southern Lebanon — will be met with far harsher and more devastating actions than those previously taken," the IRGC said according to state news agency IRNA. Tehran deems Israeli military action in Lebanon as a part of the wider war involving the two countries and the US, and has said it wants an end to Jerusalem's incursions as part of any deal that could reopen the strait of Hormuz. Israel and Lebanon's central government have reached several ceasefire agreements, with the US facilitating those talks. But Lebanon's central government has little control over Hezbollah, the Iran-backed militant group that has been attacking civilian and military targets in northern Israel. Earlier on Monday, US president Donald Trump appealed for calm. "Israel and Iran must immediately stop "shooting"," he wrote on his Truth Social account. He again said a peace deal is close, "subject to ignorance or stupidity getting in its way", and said the US naval blockade of Iranian shipping in the Gulf of Oman "will remain in place and in full force and effect", until a deal is reached. The front-month August Ice Brent contract fell back from earlier highs after the Iranian announcement, to trade up by around 1pc on the day at $94.13/bl as of 11:50 GMT. It hit an intraday high of above $98/bl earlier in the day. By Ben Winkley Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

EU-US trade deal unlikely to stimulate ammonia flows

05/06/26
05/06/26

EU-US trade deal unlikely to stimulate ammonia flows

London, 5 June (Argus) — The European Parliament is expected to approve legislation implementing a trade deal with the US on 16 June, setting zero tariffs on a wide range of US goods entering the EU, including ammonia. But the deal is unlikely to encourage an influx of duty-free ammonia imports from the US while costs associated with the EU's carbon border adjustment mechanism (CBAM) remain prohibitive. US ammonia imports to the bloc were previously subject to a 5.5pc duty, until the EU temporarily suspended standard import tariffs across most fertilizers for one year from 30 May. Tariff-free ammonia imports for the year were capped at 300,000t for ammonia, a quota that applies only to origins previously subject to duties. The tariff removal equates to savings of around $50/t at current delivered prices to Europe, which were assessed at $900/t cfr duty-paid/free on 3 June, and at $850/t cfr duty-unpaid on the same day. The EU-US trade deal is expected to provide for retroactive application from 1 August 2025 and will run until 31 December 2029, entitling 280,000t of ammonia imported since 1 August 2025 to be eligible for rebates. But savings of $50/t do not cover the additional costs of CBAM for US cargoes. The EU assigned the US a country default carbon-intensity benchmark of 3.44t CO2 equivalent (CO2e)/t ammonia. The default value equates to additional import costs of $168/t against the Argus- assessed second-quarter rolling average of the EU emissions trading system (ETS) prompt price as of 3 June at $86.14/t CO2. CBAM declarants may be able to use actual emissions data from plants with a year of past operating data, as opposed to the country default values, which could result in substantially lower costs. Some ammonia units, such as CF's Donaldsonville, are widely expected to get emission verification by early 2027. Newer plants with an operating history of less than a year, including both the Gulf Coast Ammonia 1.3mn t/yr plant and Woodside's 1.1mn t/yr Beaumont plant, are less likely to secure verification next year. EU importers are not willing to take the risk of having to pay the high CBAM costs for importing US tonnes, which has been demonstrated by the absence of any shipments from either of the two new plants to Europe this year. Duty removals are not expected to reverse this trend. Meanwhile, the EU has imported just under 90,000t from Donaldsonville so far this year, 38,500t of which loaded in December. Origins with lower CBAM country default values such as Algeria and Egypt, two of Europe's top suppliers, are expected to encounter CBAM costs of around $53/t and $50/t, respectively, in the second quarter, Argus estimates. But both of these countries were already duty-free prior to the tariff suspension. Neither the standard import tariff removal or the EU-US trade deal can therefore be expected to stimulate a large increase in US ammonia shipments to Europe, at least until individual plants are able to provide verified emission data. The full impact of the trade deal is therefore unlikely to be felt before next year. EU officials expect member states to approve the legal texts for the EU-US deal swiftly, before the end of June. The deal was initially agreed with US president Donald Trump in July last year but legislative approval was stalled earlier this year after Trump threatened to annex Greenland. By Lizzy Lancaster Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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