Note: for full details on the criteria ICIS uses in making these price assessments, visit www.icispricing.com and click on “methodology”.
The US DAP (diammonium phosphate) market was active, with price levels holding firm, sources said during the week ended on 29 July.
In the US late last week, PhosChem sold 20,000-25,000 tonnes of DAP to Peru at $655/tonne FOB Tampa for August shipment. Since the sale, export availability for August is looking extremely tight.
Nola (New Orleans) DAP barge activity has been thin this week, but price indications were still firm at $615-620/short ton FOB. Central Florida DAP barge prices have moved up $20/short ton in the past week, with Mosaic selling at $585/short ton FOB.
Monoammonium phosphate (MAP) availability is reported to be tight. A Russian MAP cargo is being imported at $715/tonne CFR, in line with current MAP barge price indications around $645-650/short ton FOB.
A Moroccan 11-52 MAP cargo has been booked by Koch at $700/tonne FOB for August shipment.
Robust fertilizer markets resulted in Q2 phosphate gross margins of $166m, more than triple the $49m earned in the same period last year, PotashCorp said in its Q2 results. Sales volumes grew to 1m tonnes, up from 700,000 tonnes in Q2 2010.
Russian MAP is being offered to Argentina and Brazil in the mid-$710s/tonne CFR for second-half August shipment. Other MAP offers are reported as high as $725/tonne CFR.
There are reports of a DAP cargo sold to Argentina/Uruguay at $695/tonne CFR.
In Brazil, Russian MAP was reportedly booked at around $700/tonne CFR last week, but offers have now moved higher.
Aguia has announced initial drilling results from its Lucian Phosphate Project. Assays from the first 11 holes spaced across a 20km zone have now been received with eight holes returning phosphate mineralisation. Meanwhile, numerous high-grade intersections were received, including assays up to 23.25% P2O5.
The company has also entered into an agreement to acquire two potentially large-scale phosphate projects located in the state of Rio Grande do Sul in southeast Brazil. Aguia has an exclusive option to acquire 100% of the Tres Estradas and Joca Tavares carbonatite-style phosphate projects from Companhia Brasileira do Cobre. The projects show early-stage signs that the deposits are similar to the carbonatite style phosphate deposits mined by Vale.
In Peru, Misti purchased 20,000-25,000 tonnes of US DAP from PhosChem late last week at $655/tonne FOB.
This week on ICIS ( www.icisnews.com ):
28/07/2011 18:03 US Bunge looks for strong second half on biofuels, fertilizers
28/07/2011 13:49 US Bunge Q2 net income plummets to $316m, sales up 32%
28/07/2011 13:11 PotashCorp’s Q2 net income soars 75% to $840m, sales up 62%
28/07/2011 13:00 Acron Group releases 1H 2011 operating results
27/07/2011 13:00 Belneftekhim invests in development programme
