Bangladesh’s BCIC receives offers in phosacid tender

Market: Fertilizers
18/11/24

State-owned Bangladeshi fertilizer importer and producer BCIC received offers ranging from $1,163-1,213/t P2O5 cfr equivalent in its tender to buy 10,000t of merchant grade phosphoric acid, which closed today.

Trading firm Gentrade FZE made the lowest offer, for Moroccan phosphoric acid, at $628.10/t cfr, or $532.10/t fob.

Guangxi Pengyue Eco-Technology — a subsidiary of China's Guizhou Chanhen Chemical — offered at $629.91/t cfr, or $542.91/t fob.

And trading firm Sun International offered South African acid at $631/t cfr, or $538/t fob.

BCIC is likely to have received no offers in its 29 October tender to buy 10,000t of the same grade of phosphoric acid.

By Tom Hampson

Related news posts

Argus illuminates the markets by putting a lens on the areas that matter most to you. The market news and commentary we publish reveals vital insights that enable you to make stronger, well-informed decisions. Explore a selection of news stories related to this one.

News

18/11/24

India's urea sales regain momentum in November

Amsterdam, 18 November (Argus) — India's domestic urea sales are on track to hit around 3.4mn t this month, rising from 3.2mn t a year earlier, with offtake set to be a key determinant of the timing of the country's next import tender. Urea offtake has been running at the equivalent of 3.4mn t in November, up by 200,000t on the year, provisional data show. Production is set to be around 2.6mn t, down from 2.76mn t a year ago. The trend of increasing urea sales so far this month marks a reversal from October, when sales are likely to have totalled 2.32mn t, down from 2.37mn t a year earlier, provisional data show. Output had been similarly down in October on the year, with urea production at 2.58mn t, dipping from 2.85mn t a year earlier. Urea sales typically peak in November-January in the winter Rabi season and Indian authorities will be closely following domestic consumption for the timing of the next urea import tender. Importer IPL last week secured 1.03mn t of urea in its 11 November purchase tender, the sixth this year. By Harry Minihan Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Find out more

News

EU sulacid supply to remain challenged in 1H25

18/11/24

News

18/11/24

EU sulacid supply to remain challenged in 1H25

London, 18 November (Argus) — The European sulphuric acid market will continue to face important challenges in the first half of next year because of problems relating to metal concentrate availability and ore grades, which will add further pressure to a market affected by an ongoing shortage of liquid sulphur. Smelters have faced reduced availability and quality of both copper and zinc concentrates, which coupled with record low treatment charges (TCs), have lowered overall availability of sulphuric acid this year, with the situation unlikely to change in the short to medium term. Some smelters have resorted to using metal scraps to be able to deal with the lower concentrate availability, but this is resulting in lower sulphuric acid production as recycled scraps contain less sulphate. The market will continue to be supply driven, affected by production curtailments that will reduce availability in the first half of 2025. The planned maintenance is expected to result in a 350,000t production loss. A planned outage at Bulgaria's 1.2mn t/yr Aurubis' Pirdop smelter in May-June is set to remove around 200,000-240,000t of sulphuric acid. The sulphur burner at Weylchem's Bilbao, with a capacity of 350,000 t/yr, will also undergo a month-long planned maintenance in March. In addition, Nuova Solmine's 540,000t/yr sulphur burner will be off line for four weeks from mid-March. KGHM's Legnica smelter, with a nameplate capacity of 120,000t of acid, is expected to face an output loss of around 40pc of sulphuric acid in 2025 as copper scraps will be used to replace some of the concentrates used by the smelter. But some of the output losses may be offset by the expansion of capacity at Boliden's Odda smelter, which is scheduled to come on line at the end March, with an estimated 120,000 t/yr of sulphuric acid capacity, bringing total capacity at the smelter to around 240,000 t/yr. The overall losses because of maintenance will further tighten the domestic market, which will continue to face a severe shortage of liquid sulphur. Reduced availability of liquid sulphur from refineries in northwest Europe has severely affected sulphur burners that produce sulphuric acid for captive use, with some users switching to smelter acid when possible. But some consumers, such as those where higher purity is a concern, or those needing the steam generated from sulphur burning to create energy, cannot easily replace liquid sulphur to smelter acid as a feedstock. And while end-user demand is likely to remain stable next year, supply factors will provide the main driver for the European market in 2025. By Lili Minton Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

News

India's Fact issues buy tender for 20-20-0+13S

18/11/24

News

18/11/24

India's Fact issues buy tender for 20-20-0+13S

London, 18 November (Argus) — Indian importer Fact has issued a fresh tender to buy two 20,000t cargoes of 20-20-0+13S, closing on 25 November, after receiving no offers in its previous tender. Fact has asked for the NPS to be shipped in two 20,000t cargoes on or before 25 December, the first for arrival to Tuticorin and the second to Kakinada. Fact had previously issued a similar purchase tender for the same grade that closed on 15 November , but received no offers. The importer did receive one offer in its 15 November buy tender for 40,000t of 15-15-15, but it has not opened the price. A spot sale of 25,000t of Saudi 20-20-0+13S was sold into India last week at $400/t cfr duty unpaid, a similar level to the last business concluded for the NPS grade. By Nykole King Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

News

Bangladesh gets DAP, TSP offers in tender

18/11/24

News

18/11/24

Bangladesh gets DAP, TSP offers in tender

London, 18 November (Argus) — Bangladesh's ministry of agriculture got offers for 120,000t of DAP ranging $678.40-717.00/t cfr and 113,000t of TSP ranging $561.90-585.00/t cfr in its latest private-sector tender, which closed today. The ministry received four offers for DAP in the tender as follows: Bulk Trade International — 40,000t at $678.40/t cfr Saifullah Takwa — 40,000t at $711/t cfr Taiba Saifullah (G.L.) — 20,000t at $711/t cfr Taiba Saifullah (S.A.) — 20,000t at $717/t cfr And five offers for TSP as follows: Bulk Trade International — 30,000t at $561.90/t cfr Mounata Trade Index — 20,000t at $584/t cfr Alif Trading Corporation — 3,000t at $585/t cfr Noapara Traders — 30,000t at $585/t cfr Taiba Saifullah (S.A) — 30,000t at $585/t cfr The ministry of agriculture likely awarded the offers received under its 10 November private-sector tender . Trading firms had offered 94,000t of DAP at $692-697/t cfr and 30,000t of TSP at $573/t cfr under the tender. By Tom Hampson Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

News

Australian IPL earns over 60,000 safeguard carbon units

18/11/24

News

18/11/24

Australian IPL earns over 60,000 safeguard carbon units

Sydney, 18 November (Argus) — Australian chemicals and fertilizer producer Incitec Pivot (IPL) has earned 63,529 Safeguard Mechanism Credits (SMCs) with its Moranbah ammonia facility in Queensland for the 2023-24 compliance year that ended in June, which it plans to hold for future surrender requirements from another facility. The SMC figure was formally disclosed by the Clean Energy Regulator (CER) in the Moranbah facility's safeguard position statement early this month, following IPL's National Greenhouse and Energy Reporting (NGER) data submission, the company told Argus on 18 November. This is as Moranbah reported scope 1 greenhouse gas (GHG) emissions below its baseline, the company said. "The site is therefore eligible to apply for SMCs to be issued in February," it told Argus . IPL's Phosphate Hill facility, on the other hand, exceeded its baseline by 40,841t of CO2 equivalent (CO2e). But it will apply for a Trade Exposed Baseline Adjustment , which, if successful, will reduce that excess, the company said in its 2024 climate change report released on 18 November. "It is planned that SMCs earned at Moranbah will be surrendered to settle the Phosphate Hill liability when it becomes due in the 2025 IPL financial year" to 30 September 2025, the company added. The safeguard mechanism applies to facilities that emit more than 100,000t of CO2e in a fiscal year. Emissions must be reported by 31 October, and facilities must manage any excess emissions by the compliance deadline of 31 March 2025 by surrendering Australian Carbon Credit Units (ACCUs) or SMCs — which the CER will start to issue for the first time in early 2025 . IPL's Moranbah surrendered 15,482 ACCUs in the July 2022 to June 2023 fiscal year . It was one of 44 facilities that surrendered carbon credit units out of the total 219 covered under the mechanism that year. Phosphate Hill's reported emissions in 2022-23, at 509,491t of CO2e, were just below its baseline of 512,235t of CO2e. The shift in the 2023-24 compliance period comes as IPL finished installing tertiary nitrous oxide (N2O) abatement at Moranbah in March this year. "Since its installation, the unit has been performing well and is abating up to 99pc of N2O process emissions, which are created during nitric acid manufacture," it said in its climate change report. The abatement unit is expected to have a lifespan of 20 years and will abate around 200,000 t/yr of CO2e, reducing emissions to a level below the facility's baseline in the near term. But as the baseline will decline under the safeguard mechanism, "this benefit will reduce," the company added. By Juan Weik 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