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You can unsubscribe from these updates at any time. We manage your personal data in accordance with our privacy policy.Kuwaiti state-owned KPC has set its November sulphur price at $135/t fob, up by $11/t from October.
This implies a delivered price to China of $158-164/t cfr at current freight rates, which were assessed on 31 October at $23-25/t to south China and $27-29/t to Chinese river ports for a 30,000-35,000t shipment.
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.
London, 15 November (Argus) — Indian importer RCF has floated a tender for 30,000t of standard MOP and 30,000t of 10-26-26, closing on 18 November. Shipments are to be made to any of India's east coast ports before 30 November. Suppliers can submit offers for either or both products. Offers should be valid until 22 November. The MOP supplied should be red, pink, white or off-white. The NPK is requested to be white or off-white. RCF also has pending tenders for 15-15-15 and 20-20-0+13S. Fellow importer Fact recently awarded its 10 October tender to buy 40,000t of standard MOP to Russian fertilizer producer Uralkali at $283/t cfr with 180 days credit, the prevailing contract price in India. By Nykole King Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Amsterdam, 15 November (Argus) — Indian fertilizer importer and producer IPL has allocated ports to suppliers for awards under its 11 November tender, which saw the firm buy 1.03mn t of urea for the west coast. IPL issued letters of intent to agreed suppliers for just over 1mn t at $362/t cfr west coast in the evening of 14 November . The breakdown of the awards by supplier and port are detailed in the table below. IPL requested loading by 25 December. Middle East producers are set to dominate supply and will likely end up accounting for half of the tonnage, with netbacks equating to around the high $340s/t fob. Russian tonnage amounts to 200,000t so far at $305-310/t fob Baltic, while Malaysia's Petronas could account for around 100,000t. Nigeria's Indorama will load a total of three urea vessels to IPL next month — one directly and two for trading firms, following one cargo to RCF under the previous Indian urea tender. Nigerian urea moving eastwards highlights the comparative weakness in the Americas. This trend was further underscored by Egypt's Abu Qir also opting to support a trading firm with a prilled urea vessel under this latest tender. By Harry Minihan IPL 11 November urea tender port allocations Supplier Quantity (t) Discharge port Samsung 45,000 Mundra Samsung 45,000 Mundra Samsung 45,000 Mundra Samsung 45,000 Kandla Samsung 45,000 Kandla Sun International 50,000 Mundra Indorama 46,000 Kandla Ameropa 47,150 Pipavav Agrifields 40,000 New Mangalore Agrifields 30,000 New Mangalore Aditya Birla Global Trading 55,000 Mundra Aditya Birla Global Trading 42,000 Mundra Aditya Birla Global Trading 50,000 Pipavav Aditya Birla Global Trading 50,000 Adani Tuna Koch 47,500 Kandla ETG 50,000 Adani Tuna Hexagon 47,000 Pipavav Midgulf 38,800 Rozy Midgulf 46,000 Mundra Fertistream 31,500 Jaigarh Keytrade 42,000 Rozy Fertiglobe 45,000 Dahej Fertiglobe 45,000 Hazira West coast total 1,027,950 — Market sources Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
London, 14 November (Argus) — Major European producer LAT Nitrogen has withdrawn from the German market today owing to a surge in gas costs. LAT Nitrogen produces nitrogen-based products for the fertilizer and industrial chemical markets. It sells CAN, ASN and NPK 15-15-15 to the German market. "We will closely monitor the development of gas prices before considering a return to the market," LAT Nitrogen market intelligence and demand planning analyst Harald Lindner said. Front-month natural gas prices on the Dutch TTF have climbed steadily over the past two months, reaching more than €45/MWh today, up by €10/MWh from September. CAN is a key nitrogen fertilizer used in the German market and spot prices have stagnated at about €280/t bulk cif inland and have failed to grow ahead of the season, despite higher list prices. Yara raised its CAN asking price on 16 October to €305/t bulk cif inland for delivery to Germany and the Benelux countries, up from its previous offer of €295/t bulk cif inland. Buying interest from farmers has been incredibly slow ahead of spring applications this year. Market coverage in Germany for nitrogen fertilizers for the 2024-25 fertilizer year is estimated to be 40-45pc, down from an average of 60-65pc by mid-November. Weak grain prices, reduced farm incomes and warehouses full of unsold agricultural produce are also said to be behind the lack of demand for fertilizers from consumers. Some wholesalers are expecting sales to remain slow until the start of 2025, which will give distributors logistical challenges to deliver product ahead of early spring applications. LAT Nitrogen began maintenance in mid-September on some of the lines at its Linz site in Austria, affecting downstream fertilizer output of ammonia, nitric acid, CAN and NPKs. This was due to be finished by early November. The Linz site is a major source of fertilizers for central and eastern Europe, with CAN 27 annual production roughly at or above 600,000t in typical recent years, according to latest IFA data. The 429,000 t/yr prilled urea plant at Linz was unaffected by the maintenance and is running as normal. By Suzie Skipper Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
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