China’s Zangge plans end-2024 start on Laos MOP plant
Chinese MOP producer Zangge expects to start construction of its 2mn t/yr plant in Laos by the end of this year.
The first 1mn t/yr phase is expected to be completed by the end of 2026, followed by exports in early 2027. The second phase of similar capacity is likely to start construction in 2027 and be completed in the second half of 2028.
Zangge will become the third Chinese-backed potash producer in Laos after Lao Kaiyuan and Asia Potash. Zangge will also produce 60pc white powder/crystal MOP and red granular MOP, targeting markets in China and southeast Asia.
Its mining area is situated in the Xaythany and Paknguem counties in Vientiane, Laos with a total mining area of nearly 400km².
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NFL urea tender acceptances total 1.17mn t: Update
NFL urea tender acceptances total 1.17mn t: Update
Adds table and breakdown of tender acceptances Amsterdam, 4 September (Argus) — Indian fertilizer importer NFL is in line to buy up to 1.17mn t of urea under its 29 August tender. For the east coast, 10 firms appear to have agreed to supply just over 730,000t of urea, while two suppliers have committed to delivering 440,000t to the west coast. Suppliers had until 16:00 IST (11:30 BST) today to accept NFL's counter of $340/t cfr west coast and $349.88/t cfr east coast. Ameropa submitted the initial lowest offer of $349.88/t cfr and is set to ship the most to the east coast, at just over 136,000t. Aditya Birla and Sun International have accepted 100,000t and 95,000t, respectively. The full breakdown of acceptances is listed in the table below. Meanwhile, Fertistream has accepted 40,000t of urea for the west coast, and OQ will ship 400,000t to the west coast after it submitted the lowest offer at $340/t cfr. The prices are set to weigh most heavily on Russian fob prices, with east-of-Suez origins less affected. Netbacks from India broadly reflect urea in the mid-$280s to $290/t fob Baltic spanning both coasts, marking a sharp drop from prices for prilled urea at $295-310/t fob last week. Prices out of the Middle East equate to $323-330/t fob for both coasts, a slight softening from last week's price of $325-335/t fob. Potential southeast Asian netbacks would be around $325/t fob to the east coast, if accepted, down from the granular urea assessment of $330-335/t fob last week. By Harry Minihan NFL 29 August urea tender acceptances t Supplier East coast West coast Total Sun International 95,000 95,000 Midgulf International 45,000 45,000 Agricommodities (ETG) 49,500 49,500 RE Energy Fertistream 80,000 40,000 120,000 Dreymoor Ameropa Asia 136,300 136,300 Indagro Continental Samsung 45,000 45,000 Aditya Birla 100,000 100,000 PIC Hexagon OQ Trading 400,000 400,000 Coastal Chemical 90,000 90,000 Koch Keytrade Macrosource Medallion Alkagesta Agrifields 40,000 40,000 Sabic 50,000 50,000 Total 730,800 440,000 1,170,800 Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Abu Dhabi's Adnoc raises Sep sulphur price by $23/t
Abu Dhabi's Adnoc raises Sep sulphur price by $23/t
London, 4 September (Argus) — Abu Dhabi's state-owned Adnoc set its September official sulphur selling price for the Indian subcontinent at $130/t fob Ruwais, up by a substantial $23/t on its August OSP. Adnoc's September OSP implies a delivered price of $153-154/t cfr India, with the freight cost for a 40,000-45,000t shipment to the east coast of India last assessed at $23-24/t on 29 August. Fellow regional sulphur marketer Muntajat/Qatar Energy on 29 August announced its September sulphur price at a slightly lower level at $125/t fob, up by $19/t on July's OSP. By Maria Mosquera Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Thailand’s 4Q urea imports face pressure
Thailand’s 4Q urea imports face pressure
Singapore, 4 September (Argus) — Thailand's fourth-quarter urea imports are largely expected to fall because of high inventories and slowing domestic demand, despite a spur in arrivals in July. Thailand's domestic main application season usually begins in May but heavy rainfall accelerated at the end of July and slowed fertilizer application. Continued monsoon rainfall in most regions in August has led to widespread flooding, especially in the northeast of the country, with further severe rainfall forecast for early September. Flooding has damaged rice and corn field crops in some regions and extra measures have had to be taken to drain fields. In-season rice paddy plantings nationwide have also been affected and were less than expected at 15.04mn rai (2.4mn ha) compared with a projected 17.01mn rai. Plantings for field-crop vegetables were also projected at 540,000 rai but only hit 360,000 rai, as of 28 August, according to Thailand's Royal Irrigation Department. This has slowed overall agricultural activity and stifled domestic urea buying demand. Urea stocks have yet to be fully liquidated for July-August, while incoming vessels of contractual shipments due to arrive in August and September further adding to inventories. Farmers and consumers are also facing reduced affordability and have refrained from purchasing more than necessary urea cargoes. Price sentiment for rice exports has been bearish in Thailand, with July wholegrain prices dipping by around 3-7pc below June levels. Thai 100pc B white rice prices were indicated mostly around $602.70/t fob in July, down by 7pc from a month earlier, while Thai parboiled 100pc rice was indicated at $590.70/t fob and down by 5pc, according to the UN Food and Agriculture Organisation. This was despite an appreciation of the Thai baht against the US dollar and the announcement of a rice import tender from Indonesia, which typically boosts Asian rice prices and trade. Importers are unlikely to seek any additional urea spot cargoes in this year's fourth quarter because of weaker farmer demand, instead seeking to sell existing inventories. Thailand's urea imports in July more than doubled to 445,000t, the largest monthly intake this year. This was largely driven by anticipation of firm urea demand, as ample rainfall across most regions in June had encouraged importers to schedule contractual urea vessels for July arrival. By Dinise Chng Thailand urea imports (t) Saudi Arabia Oman Malaysia Indonesia Brunei Others YTD Jan 137,092 16,501 40,715 16,756 3,040 30,705 244,809 Feb 91,112 30,050 15,513 0 38,193 17,472 192,340 Mar 107,008 41,125 27,957 21,462 35,158 52,476 285,186 Apr 56,875 5,655 33,644 7,830 0 120,741 224,745 May 69,410 62,576 13,344 2,000 13,500 12,626 173,456 Jun 108,156 58,263 46,965 5,915 12,391 69,056 300,746 Jul 248,031 79,331 47,015 7,894 28,227 34,223 444,721 Total 817,684 293,501 225,153 61,857 130,509 337,299 1,866,003 Source: GTT Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
US Coast guard restricts lower Mississippi drafts
US Coast guard restricts lower Mississippi drafts
Houston, 3 September (Argus) — The US Coast Guard (USGC) set new towing and draft restrictions for the lower Mississippi River on 31 August, as water levels continue to decline. For southbound traffic from Tiptonville, Tennessee, to near Greenville, Mississippi, barge drafts must remain under 10.5ft and no more than six barges wide, according to the USGC. From Greenville to Tunica, Mississippi, southbound barge drafts must be under 10ft. Boats can tow six barges wide, but no more than four of those barges can be loaded. Northbound movement from Tunica to Tiptonville must keep drafts below 10ft and cannot be more than six barges wide and no more than four barges loaded. These new restrictions arrived five days after the previous draft restriction issued by the USGC. Memphis, Tennessee, water levels fell below the low water threshold of -5ft over the holiday weekend, at nearly -6ft as of 3 September according to the National Weather Service (NWS). As many as six other points on the lower Mississippi River are at their low water thresholds with others expected to reach their thresholds this week. Low water has already spurred an increase in southbound tariff values, which will likely be exacerbated as US crop harvests progress. The next 48hrs in the Memphis area is forecast to receive no rain, while the southern half of Mississippi and most of Louisiana may see 0.5-2 inches of rainfall, according to NWS. By Meghan Yoyotte Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
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