India's RCF seeks 100,000t of NPS
Indian fertilizer importer RCF has issued a tender to buy two 50,000t lots of 20-20-0+13S.
RCF requests delivery of the first lot by 10 June and the second by 20 June.
The tender is to close on 3 May, and offers must be valid until 7 May.
The tender is open only to suppliers with which RCF has signed long-term agreements.
RCF in February bought just over 30,000t of Saudi Arabian 20-20-0+13S from a trading firm at around $359/t cfr duty unpaid, equating to $377/t cfr duty paid/free.
The Argus assessment for Indian imports of the grade has remained broadly flat since, largely because of a lack of trade. Indian importers have been buying mainly NPK grades — particularly Russian-produced 10-26-26 — while high stocks have helped to ensure little NPS activity.
But the nutrient-based subsidy (NBS) for 20-20-0+13S being raised by just 11pc season on season, compared with 19pc for 10-26-26 and 20pc for 12-32-16, has also helped to nudge demand towards the latter products.
Related news posts
More Egyptian urea sold at $286/t fob for June loading
More Egyptian urea sold at $286/t fob for June loading
Amsterdam, 14 May (Argus) — Egyptian fertilizer producer Mopco has sold a further 25,000t of granular urea at $286/t fob for loading next month to a European market. The producer is now targeting $290/t fob. The deal follows business which emerged at a similar level today, with Mopco selling a total of 20,000t at $286/t fob to two trading firms, while fellow producer Alexfert sold 5,000t of granular urea at $287/t fob for June loading. Trading firms covering short sales across mainland Europe and Turkey have been driving these latest deals out of Egypt, with purchases taking place earlier in the week in the lower $280s/t fob. By Harry Minihan Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
India's RCF seeks key NPS and NPK grades
India's RCF seeks key NPS and NPK grades
London, 14 May (Argus) — Indian fertilizer importer RCF has issued a tender to buy 50,000t each of 20-20-0+13S and 10-26-26, plus or minus 10pc of the respective quantities. The tender is to close on 16 May, and offers must be valid to 22 May. The tender, which requests loading by 20 June, is open only to suppliers with which RCF has long-term agreements. The minimum offer quantity is 25,000t, plus or minus 10pc. Potential suppliers can offer either or both products. RCF late last month floated a tender to buy two 50,000t lots of 20-20-0+13S. It received one offer — of 50,000t from a trading firm — at $362/t cfr duty unpaid. But the offer was around $17/t higher than the price at which Saudi producer Ma'aden recently sold the grade to another Indian importer, and RCF scrapped its tender. RCF has not received a cargo of key NPK grade 10-26-26 since early November 2023, Argus data show. By David Maher Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Phosphates: Brazilian MAP imports recover in April
Phosphates: Brazilian MAP imports recover in April
London, 14 May (Argus) — Brazil's MAP imports in April reached their highest level so far this year, buoyed by plentiful supply from Russia and demand ramping up ahead of the main season. Brazil imported 378,147t of MAP in April, of which Russia accounted for nearly 260,000t, Morocco 67,000t and Saudi Arabia 51,500t. Year-to-date imports for the January to April period reached 1.025mn t, of which Russia accounted for 76pc, Morocco 15pc and Saudi Arabia 6pc. The main changes compared with 2023 are the nearly 600,000t fall in total MAP imports compared to last year. Russia has actually raised its market share from nearly 52pc last year to 76pc. Otherwise, Moroccan MAP exports fell from nearly 500,000t in 2023 to 158,000t, while US exports fell nearly 120,000t year-on-year. Saudi MAP exports almost halved from 109,000t in the first four months of 2023. Chinese MAP exports fell from over 37,000t in 2023 to just 9,000t in 2024. Several reasons explain the changes. Overall imports are down on an exceptionally high first four months of 2023. Average imports for the last five years were around 1.15mn t, imports for 2024 are on par. Moroccan producer OCP concentrated more on DAP shipments to India east of Suez as well as MAP shipments to Australia. High domestic prices in the US cut export availability and pulled in non-Russian and non-Moroccan cargoes from other markets. Saudi producers also concentrated more on DAP markets in India with Chinese phosphate supply out of play. Chinese producers concentrated more on the domestic market and faced customs inspections, which limited export availability for phosphates. By Mike Nash Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Some rain in Thailand, urea demand lagging, prices drop
Some rain in Thailand, urea demand lagging, prices drop
Amsterdam, 14 May (Argus) — Recent rainfall in Thailand has yet to prompt a rise in urea demand, with buyers waiting for the delayed monsoon towards the end of the month, while distributors have cut prices in a bid to clear stocks after an import surge in the first quarter. The rains have arrived in Thailand after a period of dry weather from mid-April and distributors are anticipating an uptick in demand from local buyers, probably in June after the onset of the monsoon. But current rainfall has yet to translate into a rise in purchases. Distributors have cut retail prices by 300-500 baht/t ($8-14/t) in an attempt to reduce inventories of higher-priced product from March-April. Prices for urea in branded 50kg bags are around Bt15,000/t equivalent, with ex-warehouse levels down to around Bt13,000/t. Indications for imports have slipped to $310-320/t cfr, with Middle East product at the low end and southeast Asian material at the high. Urea imports soared to 722,000t in January-March, an 84pc rise on the year, with importers jumping back into the market as international prices rose from a bottom at the end of December. Thai imports averaged 331,000t in January-March 2021-23. The rainy season is expected to begin in the week starting 27 May, one to two weeks later than in a normal year, according to the country's meteorological agency. The rainfall forecast is expected to be close to normal and similar to 2023. But rainfall in the second half of the rainy season, August to the end of October, is projected to be 5pc higher than in a typical year. Thailand is one of the largest urea destination markets, usually receiving 2.2mn-2.5mn t/yr, offering producers a key outlet towards the end of the second quarter. Imports typically peak in May-July ahead of the monsoon season, which runs to October. By Harry Minihan Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Business intelligence reports
Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.
Learn more