06 February 2012 06:20 [Source: ICIS news]
By Natalie Hui
Demand peaks in March to April when the spring season is in full swing - conducive to applying fertilizers on crops in
On 3 February 2012, spot prices were assessed at $190-205/tonne CFR China, up $5/tonne week on week, according to ICIS China data.
Prices hit a three-year high of $235-250/tonne CFR China in June 2011, backed by brisk domestic demand from phosphate producers, which had been exporting strong volumes of fertilizers. But prices started tumbling in the fourth quarter following the government’s imposition of high tariff on shipping out phosphates, despite weak domestic demand.
“Domestic traders showed more interest in sulphur imports after [the] Chinese New Year holiday [22-28 January], despite mass arrivals in January, as most were heading directly for end-users,” a China-based trader said.
“In view of the impending peak consumption season for fertilizers, traders registered more buying intentions,” he said.
China’s domestic ammonium phosphates prices were stable to higher in the week ending 3 February, with offers for 55% monoammonium phosphate (MAP) powder quoted at CNY2,700/tonne ($428/tonne) EXW (ex-warehouse), while offers for 64% diammonium phosphate (DAP) increased to CNY3,300-3,400/tonne DEL (delivered) NE (northeast) China, up by CNY50/tonne week on the week at the high end of the range, a market player said.
Aramco Trading in
Adnoc is close to finalising its first-quarter sulphur prices with a Japanese trader at below $180/tonne FOB.
Meanwhile, first-quarter sulphur contracts between Kuwait Petroleum Company (KPC) and customers have been finalised at $170-180/tonne FOB.
In other markets, however, spot sulphur prices are stable to lower.
Reliance Industries was heard to have lowered its domestic sulphur prices by an equivalent of around $10/tonne for north
($1 = €0.76 / $1 = CNY6.31)
Read John Richardson and Malini Hariharan’s blog – Asian Chemical Connections
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections