The US fertilizer industry, ranked fourth globally in terms of total production capacity, has grown and developed alongside an increasingly sophisticated domestic agricultural sector. The Biden administration has earmarked $900 million for investment in fertilizer assets to boost domestic production capacity and reduce input costs to farmers.
This year will be the 40th Sulphur – now Sulphur + Sulphuric Acid – Conference to be held. From its beginnings in Canada to this year’s meeting at the Hyatt Regency hotel in Barcelona, much has changed, but its mission – to be an essential annual forum for the global sulphur and acid community – remains the same.
Veolia says that its subsidiary Veolia North America has signed an agreement for the divestment of Veolia North America Regeneration Services, which includes its sulphuric acid and hydrofluoric acid regeneration activities for refineries, to private equity firm American Industrial Partners for $620 million. These activities represented revenues of around $350 million in 2023. The financial closure of the transaction is expected soon. Veolia’s Sulphuric Acid Regeneration Business includes its sulphuric acid and potassium hydroxide regeneration, as well as sulphur gas recovery, and sulphur-based products production businesses.
Brazilian phosphate producer Galvani says that it has begun work on its major phosphate expansion in Bahia state, including a new production plant at Ceará, in partnership with Indústrias Nucleares do Brasil (INB). The company aims to reduce Brazil’s northern and northeastern regions’ reliance on imported fertilizers. The first phase includes $133 million of investment, including $76 million for new phosphate mining at Irecê, and $38 million for Luís Eduardo Magalhães factory, also in Bahia. This expansion will take capacity from 600,000 t/a to 1.2 million t/a by 2026. The expansion at Luís Eduardo Industrial Complex includes expansion of sulphuric acid capacity from 165,000 t/a to 250,000 t/a.
The International Fertilizer Association (IFA) elected seven new representatives to its Board of Directors at its Annual General Meeting, held in Singapore on 22 May. The AGM took place on the final day of the IFA Annual Conference 2024. The seven new Board Directors elected by the membership are: Bruce Bodine , Mosaic; Soufiyane El Kassi , OCP Nutricrops; Xiaofeng Hou , China BlueChemical; Dmitry Konyaev , Uralchem JSC; Jahangir Piracha , Fauji Fertilizer Company Ltd; Edward Weiner , Trammo, Inc.; and Kelvin Wickham , Ballance Agri-Nutrients.
Intermittent supply from China due to export restrictions and US duty changes have kept markets guessing over the past couple of years, and there is no sign of that changing.
Sulphur prices in China are expected to recover with downstream demand anticipated to surge in the second half of the year and good affordability to support raw materials purchasing. Chinese nitrogen, phosphate, and potash prices have surged, driven by heightened demand for the summer corn application season. In particular, average 11-44 MAP prices jumped 16% from $390/t ex-works to $463/t in Hubei province. However, sulphur prices have taken a while to follow the trend on phosphate prices. Port prices have fluctuated in the range of $126-130/t c.fr since late March, and import prices fell from a high of $112/t c.fr to $100/t c.fr, capped by high port inventory and sufficient supply. Port inventories in China remain around 2.8 million tonnes, well above the 2022 average of 1.4 million tonnes and the 2023 average of 2.07 million tonnes. These elevated stock levels limited the upside for prices in China and provided buyers with options. At the start of July, Sinopec’s Puguang, the largest sulphur producer in China, increased its sulphur sales prices at Wanzhou port up $4/t RMB980/t, while its factory price at Dazhou was up RMB20/t at RMB950/t ex-works. These prices are considerably down from RMB1,600/t in December 2022 and RMB 2,945/t from mid-June 2022 and are the lowest since July 2023, but are still up from a low of RMB605-655/t at the end of August 2020.
The International Fertilizer Association (IFA) elected seven new representatives to its Board of Directors at its Annual General Meeting, held in Singapore on 22 May. The AGM took place on the final day of the IFA Annual Conference 2024. The seven new Board Directors elected by the membership are: Bruce Bodine , Mosaic; Soufiyane El Kassi , OCP Nutricrops; Xiaofeng Hou , China BlueChemical; Dmitry Konyaev , Uralchem JSC; Jahangir Piracha , Fauji Fertilizer Company Ltd; Edward Weiner , Trammo, Inc.; and Kelvin Wickham , Ballance Agri-Nutrients.
Some 1,265 delegates from 552 companies and 72 countries gathered in Singapore for the 9Ist International Fertilizer Association (IFA) Annual Conference, 20-22 May 2024. Claire Newell, IFA’s Director of Communications & Marketing, reports on the main highlights of this three-day flagship event.
We compare and contrast the 2023 financial performance of selected major fertilizer producers following the publication of fourth quarter results.