Morocco’s sulphuric acid imports top 1mn t in Jan-Jun
Morocco's sulphuric acid imports in the first half of this year recovered to levels in the same period two years earlier, before state-owned phosphates fertilizer producer OCP temporarily exited the acid market owing to a drop in processed phosphate prices
Moroccan sulphuric acid imports rose to 1.05mn t in the first six months of this year — in line with levels two years earlier and up sharply from the 131,000t imported in the same period last year, GTT data show.
The rise in imports reflects OCP's stronger demand for raw materials — such as sulphuric acid — following the ramp up in production capacity at its Jorf Lasfar hub.
Morocco continued to target European countries for its acid requirements in the first half of the year, with countries in the bloc supplying 752,000t in January-June, accounting for 71pc of all receipts. Asian countries supplied 17pc of Morocco's sulphuric acid imports in the first half of this year.
The largest supplier to OCP over the period was Bulgaria, which shipped 189,122t in January-June, at a sharp increase from 19,000t in the previous six months and none in the same period a year earlier.
China shipped 144,000t in January-June, up by 57pc from the same period a year earlier. Chinese first-half exports fell by 56pc compared with the second half of 2023, but they increased towards June as European supply tightened.
Spain shipped 130,000t to Morocco in the first half of this year, the highest six-month volume since the first half of 2021.
Argus expects Moroccan sulphuric acid imports to reach 2mn t this year but to decline next year as sulphur burner capacity ramps up, with the sourcing requirement shifting to sulphur.
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India’s DAP stocks draw down further
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London, 20 August (Argus) — India's DAP fertilizer stocks fell by another 300,000t in July, Fertilizer Association of India (FAI) data show, as imports kept lagging those in 2023 owing to a subsidy that makes them unviable. This was the second month in a row that stocks have fallen during the kharif season (April-September), with June seeing inventories down by 430,000t. India made 373,300t of DAP in July, imported 348,000t and sold just over 1mn t. The stockdraw/build — production plus imports minus offtake — was thus minus 296,300t. Argus estimated stocks at a modest 2mn t as of the end of July, with indications that they have since dropped to 1.5mn t as of mid-August. The catalyst has been a lack of imports. With Chinese DAP export supply thin, fob values from that origin have risen well above $600/t fob. Latest DAP import sales were made in a $618-625/t cfr range, whereas the subsidy makes any deal above $545/t cfr unviable for importers. This has restricted buyers to government-backed companies and the very largest DAP importers. Cumulative imports for the fertilizer this year to date — since April — reached 1.47mn t, compared with just over 2.7mn t in the same period of 2023, the FAI data show. DAP production has also lagged slightly, at 1.37mn t in April-July, compared with 1.62mn t in the same period last year, as raw material shipments were affected by the Houthi attacks on Red Sea shipping, affecting supply of phosphoric acid, a key raw material for DAP production in India. Stocks would have been lower still had it not been for lower offtake overall, at 2.94mn t in April-July, compared with 3.43mn t in the same period last year. Lower offtake is partly the result of less supply and buyers switching to NPK products for which stocks are higher. By Mike Nash Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Massive Canadian rail disruptions move closer
Massive Canadian rail disruptions move closer
Washington, 19 August (Argus) — A Canadian rail workers union and two major Canadian railroads moved closer to a disruptive nationwide strike on 22 August, with the union issuing on Sunday a 3-day strike notice to Canadian Pacific Kansas City (CPKC) and fellow railroad Canadian National (CN) telling the union it will lock employees out that same day. A strike by workers from the Teamsters Canada Rail Conference would cause widespread disruptions to commodity deliveries across North America. The major carriers last week began to embargo shipments of hazardous materials between the US and Canada. Canadian National expects to issue new embargoes today. Its shutdown plan began last Monday. "Unfortunately, we have no choice but to keep moving forward with this plan which means that by Thursday morning, no goods will be moving on the railroad," the railroad said. CPKC similarly began to implement shutdown plans last week. Tomorrow it will begin embargoing all shipments originating in Canada and all US shipments headed to Canada. Contracts between the Teamsters and each railroad expired at the end of last year. Employees have continued to work under those agreements but that is nearing an end as the parties remain far apart on many issues including pay and work hours. The union and railroads' strategies differ. The Teamsters so far have only issued a strike notice at one carrier. Contract negotiations are occurring separately with each railroad. "The only reason we served strike notice at [Canadian Pacific Kansas City] is because the company was set to cancel our expired collective agreements," the union said. "This would have created a situation where our members had no rights or protections at work." The union claimed CPKC is pressuring it for concession that would make it " harder for workers to predict when they might be called for work, creating a fatigue-related safety risk." The union also said the carrier was trying to change work rules related to being held away from home, and undermining Canada Labour Code provisions. CPKC in turn told the Teamsters it will lock out employees on 22 August unless the two parties are able to come to either a negotiated agreement or agree to binding arbitration. The Teamsters said late Sunday that, at that time, it did not intend to issue a strike against Canadian National. But Canadian National said it will lock employees out "unless an agreement or binding arbitration is achieved" before before 12:01am ET on 22 August. "Despite negotiations over the weekend, no meaningful progress has occurred, and the parties remain very far apart," Canadian National said. By Abby Caplan Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Malaysia’s urea exports slide in January-June
Malaysia’s urea exports slide in January-June
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India's Fact reissues tender to buy 15-15-15
India's Fact reissues tender to buy 15-15-15
London, 19 August (Argus) — Indian fertilizer importer Fact has reissued a tender to buy two 20,000t cargoes of 15-15-15, plus or minus 10pc of the respective quantities. Fact did not receive any offers against the initial tender , which closed on 9 August. The reissued tender's closing date is 29 August. As in the original tender, the importer requests delivery of one cargo to Kakinada and the other to Tuticorin, both on India's east coast. In both cases, Fact seeks a laycan at the discharge ports of 15-31 October. Fellow Indian importers Hurl and Hindalco also received no offers in recent tenders to acquire complex fertilizers. Hurl had sought two 30,000t cargoes of 20-20-0+13S, while Hindalco asked for 25,000-50,000t cargoes of various complex grades and TSP. By David Maher Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
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