For the week ended April 29, 2016, MOP (muriate of potash) prices stood at $277 per metric ton, which remained unchanged over the previous week.
It takes between 1.6 metric tons and 1.7 metric tons of phosphate rock to produce a single metric ton of DAP, according to Mosaic.
The phosphate inventory on April 29, 2016, remained unchanged at 806,000 short tons, or 731,000 metric tons—higher than the previous year’s level of 689,000 short tons, or 625,000 metric tons. This would be 19% higher YoY (year-over-year).
Despite MAP’s price fall over the past one-year period, it seems to be recovering and staying above the low of $329 per metric ton that we saw in the second half of February 2016.
For the week ended April 29, 2016, the average price of DAP in the US Cornbelt remained unchanged at $353 per metric ton, or $390 per short ton, from the previous week.
Coal prices, like natural gas prices, have hit a low point due to low demand and excess supply imbalance. Recently, natural gas prices have ticked up while coal prices are mostly unchanged.
Natural gas is the key raw material for the production of nitrogen fertilizers such as ammonia. Due to the abundant availability of natural gas, the nitrogen fertilizer industry is fragmented among several producers.
Most of the global ammonia production is upgraded to urea. Urea prices have rebounded from their lows at the beginning of 2016, especially in the US Cornbelt region, implying that demand has picked up.
In the week ended April 29, 2016, the US domestic market (XLB) saw mixed price movement for ammonia.
Fertilizer prices constitute the biggest factor impacting the performance of fertilizer companies. In this series, we’ll see how the prices of NPK and raw materials changed in the week ended April 29, 2016.
Steel scrap prices have risen sharply this year. This has made using alternate raw materials more economical for steel companies.
Although Chinese steel demand indicators have shown a sharp turnaround in 2016, many analysts see the big surge in Chinese steel prices as being unsustainable.
US steel imports rose on a month-over-month basis in March. However, along with the consolidated steel imports data, you should also keep an eye on the imports breakdown.
US steel companies filed a series of trade cases last year to stem the flow of imported steel products into the United States.
In this series, we’ll look at some of the recent steel industry indicators. The big 1Q16 rally in steel stocks was accompanied by improving fundamentals.
For the week ending April 22, 2016, muriate of potash prices stood at $277 per metric ton, which remained unchanged over the previous week.
The average price of phosphate rock for the week ending April 22, 2016, remained unchanged at $114 per metric ton from the previous week.
The phosphate inventory on April 22 remained unchanged at 806,000 short tons—higher than the previous year’s level of 737,000 short tons.
The average price for monoammonium phosphate in Brazil for the week ending April 22 dropped to $357 per metric ton from $358 per metric ton one week ago.
For the week ending April 22, the average price of diammonium phosphate in the Corn Belt was unchanged at $353 per metric ton over the previous week.