fertilizer week - microsoftus california spot usd/unit 7.54 7.03–7.10 7.03–7.10 7.03–7.10 0...

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©2019 CRU International Ltd | All rights reserved Weekly Prices Commodity/Type Unit OCT 2019 07 NOV 14 NOV 21 NOV W-on-W UREA Prilled Bulk FOB China Spot USD/t 256 246250 238243 235238 -4 Black Sea Spot USD/t 228 215225 210215 210215 0 Baltic Sea Spot USD/t 228 215223 208217 205210 -5 Bulgaria/Croatia/Romania Spot 1 USD/t 242 230235 225230 215225 -8 Middle East Spot USD/t 255 245250 238243 233235 -7 Indonesia Spot USD/t 252 238238 238238 233236 -3 US New Orleans barge Spot 1 USD/st 245 245245 245245 245245 0 Prilled Bulk CFR Mediterranean (duty paid) Spot 1 USD/t 259 245250 240245 230240 -8 India Spot USD/t 273 257262 247252 248251 0 Vietnam Spot 1 USD/t 276 265270 255260 250255 -5 Philippines Spot 1 USD/t 278 268273 263268 255260 -8 EC Central America Spot USD/t 263 247252 240245 238243 -2 Brazil Spot 1 USD/t 264 245250 235240 230235 -5 Granular Bulk FOB US New Orleans barge Spot USD/st 231 215219 208214 201205 -8 Black Sea Spot 1 USD/t 242 225230 210220 210215 -2 Baltic Sea Spot 1 USD/t 242 228230 213217 210215 -2 Middle East (non US netback) Spot USD/t 252 240245 238242 234235 -5 Middle East (US netback) Spot USD/t 218 203208 197203 189193 -9 Middle East (all netbacks) Spot USD/t 234 203245 197242 189235 -8 Iran Spot 1 USD/t 188 180185 175185 170180 -5 China Spot USD/t 256 246250 238242 235238 -3 Egypt Spot USD/t 250 239242 223239 209226 -13 Algeria Spot 1 USD/t 252 233240 225235 210230 -10 North Africa Spot 1 USD/t 251 233242 223239 209230 -11 Nigeria Spot 1 USD/t 255 238243 228233 215220 -13 Malaysia Spot 1 USD/t 261 240250 240245 232235 -9 Indonesia Spot 1 USD/t 258 240250 238240 232235 -5 Venezuela/Trinidad Spot 1 USD/t 244 218251 218251 218251 0 US Midwest Spot USD/st 281 245265 245265 250255 -2 US Cincinnati Spot USD/st 280 265265 265265 250255 -12 US Great Lakes Spot USD/st 283 265270 265270 265270 0 US Southern Plains Spot 1 USD/st 278 260270 250260 245250 -7 US Arkansas River Spot USD/st 278 260270 250260 245250 -7 US Tulsa Spot USD/st 279 265270 250260 245250 -7 US Texas Coast Spot USD/st 281 270270 260260 250250 -10 US South Spot USD/st 282 270270 250260 250250 -5 Fertilizer Week Weekly Overview Ben Farey Editor-in-Chief +44 (0)20 7903 2015 [email protected] 21 NOVEMBER 2019 PRICES Sample report

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Page 1: Fertilizer Week - MicrosoftUS California Spot USD/unit 7.54 7.03–7.10 7.03–7.10 7.03–7.10 0 Bulk FCA Rouen 30% Spot EUR/t 169 162–165 160–162 160–162 0 Germany 28% Spot

©2019 CRU International Ltd | All rights reserved

Weekly Prices

Commodity/Type Unit OCT 2019

07 NOV

14 NOV

21 NOV W-on-W

UREA Prilled Bulk FOB

China Spot USD/t 256 246–250 238–243 235–238 -4

Black Sea Spot USD/t 228 215–225 210–215 210–215 0

Baltic Sea Spot USD/t 228 215–223 208–217 205–210 -5

Bulgaria/Croatia/Romania Spot 1 USD/t 242 230–235 225–230 215–225 -8

Middle East Spot USD/t 255 245–250 238–243 233–235 -7

Indonesia Spot USD/t 252 238–238 238–238 233–236 -3

US New Orleans barge Spot 1 USD/st 245 245–245 245–245 245–245 0

Prilled Bulk CFR

Mediterranean (duty paid) Spot 1 USD/t 259 245–250 240–245 230–240 -8

India Spot USD/t 273 257–262 247–252 248–251 0

Vietnam Spot 1 USD/t 276 265–270 255–260 250–255 -5

Philippines Spot 1 USD/t 278 268–273 263–268 255–260 -8

EC Central America Spot USD/t 263 247–252 240–245 238–243 -2

Brazil Spot 1 USD/t 264 245–250 235–240 230–235 -5

Granular Bulk FOB

US New Orleans barge Spot USD/st 231 215–219 208–214 201–205 -8

Black Sea Spot 1 USD/t 242 225–230 210–220 210–215 -2

Baltic Sea Spot 1 USD/t 242 228–230 213–217 210–215 -2

Middle East (non US netback) Spot USD/t 252 240–245 238–242 234–235 -5

Middle East (US netback) Spot USD/t 218 203–208 197–203 189–193 -9

Middle East (all netbacks) Spot USD/t 234 203–245 197–242 189–235 -8

Iran Spot 1 USD/t 188 180–185 175–185 170–180 -5

China Spot USD/t 256 246–250 238–242 235–238 -3

Egypt Spot USD/t 250 239–242 223–239 209–226 -13

Algeria Spot 1 USD/t 252 233–240 225–235 210–230 -10

North Africa Spot 1 USD/t 251 233–242 223–239 209–230 -11

Nigeria Spot 1 USD/t 255 238–243 228–233 215–220 -13

Malaysia Spot 1 USD/t 261 240–250 240–245 232–235 -9

Indonesia Spot 1 USD/t 258 240–250 238–240 232–235 -5

Venezuela/Trinidad Spot 1 USD/t 244 218–251 218–251 218–251 0

US Midwest Spot USD/st 281 245–265 245–265 250–255 -2

US Cincinnati Spot USD/st 280 265–265 265–265 250–255 -12

US Great Lakes Spot USD/st 283 265–270 265–270 265–270 0

US Southern Plains Spot 1 USD/st 278 260–270 250–260 245–250 -7

US Arkansas River Spot USD/st 278 260–270 250–260 245–250 -7

US Tulsa Spot USD/st 279 265–270 250–260 245–250 -7

US Texas Coast Spot USD/st 281 270–270 260–260 250–250 -10

US South Spot USD/st 282 270–270 250–260 250–250 -5

Fertilizer Week Weekly Overview

Ben Farey

Editor-in-Chief

+44 (0)20 7903 2015

[email protected]

21 NOVEMBER 2019

► PRICES

Sam

ple re

port

Page 2: Fertilizer Week - MicrosoftUS California Spot USD/unit 7.54 7.03–7.10 7.03–7.10 7.03–7.10 0 Bulk FCA Rouen 30% Spot EUR/t 169 162–165 160–162 160–162 0 Germany 28% Spot

Weekly Overview 21 NOVEMBER 2019

crugroup.com PAGE 2 OF 7

Commodity/Type Unit OCT 2019

07 NOV

14 NOV

21 NOV W-on-W

US East Coast Spot USD/st 323 290–300 290–300 290–300 0

US Twin Cities Spot USD/st 280 260–265 260–265 255–255 -8

Granular Bulk CFR

SE Asia Spot 1 USD/t 274 265–270 260–270 255–265 -5

South Korea Spot 1 USD/t 274 265–270 260–270 258–268 -2

Brazil Spot USD/t 271 249–254 240–245 230–233 -11

Mediterranean (duty paid) Spot 1 USD/t 272 255–260 245–250 240–245 -5

Granular Bulk DEL

US Northern Plains Spot 1 USD/st 310 245–265 245–265 245–265 0

US California Spot USD/st 346 345–350 345–350 345–350 0

US Pacific NW Spot USD/st 313 325–325 325–325 325–325 0

Canada West Spot CAN/t 478 475–480 475–480 470–480 -3

Granular Bulk FCA

France Spot 1 EUR/t 266 245–255 245–248 235–240 -9

Prilled Bagged EXW

China North Spot RMB/t 1653 1500–1640 1520–1640 1500–1630 -15

UAN Bulk FOB

Black Sea 32% Spot 1 USD/t 132 130–140 130–140 130–140 0

Baltic Sea 32% Spot 1 USD/t 155 150–153 150–153 140–145 -9

Egypt 32% Spot 2 USD/t 170 165–175 NOM NOM NOM

US Midwest Spot USD/unit 6.06 5.94–6.09 5.47–5.94 5.47–5.94 0

US Midwest East Spot USD/unit 6.10 5.94–6.09 5.78–5.94 5.78–5.94 0

US Midwest West Spot USD/unit 6.06 5.94–6.09 5.47–5.95 5.47–5.95 0

US East Coast Spot USD/unit 5.67 5.47–5.63 5.47–5.63 5.47–5.63 0

US Pacific NW Spot 1 USD/unit 7.45 7.03–7.05 7.03–7.05 7.03–7.05 0

US Southern Plains Spot 1 USD/unit 5.47 5.47–5.47 5.47–5.47 5.47–5.47 0

US New Orleans barge 32% Spot USD/st 156 150–155 145–150 140–145 -5

US New Orleans barge Spot USD/unit 4.86 4.69–4.84 4.53–4.69 4.38–4.53 -1

China 32% Spot 2 USD/t NOM NOM NOM NOM NOM

Bulk CFR

US East Coast 32% Spot USD/t 155 155–155 155–155 155–155 0

Argentina 32% Spot USD/t 183 180–185 180–185 180–185 0

Bulk DEL

US California Spot USD/unit 7.54 7.03–7.10 7.03–7.10 7.03–7.10 0

Bulk FCA

Rouen 30% Spot EUR/t 169 162–165 160–162 160–162 0

Germany 28% Spot 2 EUR/t NOM NOM NOM NOM NOM

AMMONIUM SULPHATE Granular Bulk FOB

US Southern Plains Spot USD/st 233 225–225 225–225 220–225 -2

US Midwest Spot USD/st 241 235–240 235–240 235–240 0

Northwest Europe Spot USD/t 181 160–175 150–170 150–170 0

US New Orleans Spot USD/st 185 185–185 185–185 185–185 0

Western Canada Spot CAN/t 423 420–425 420–425 420–425 0

Standard Bulk FOB

Baltic Sea - caprolactam Spot USD/t 140 138–142 138–142 138–142 0

Black Sea - steel grade Spot 1 USD/t 105 100–110 100–110 100–110 0

Northwest Europe - caprolactam Spot USD/t 131 120–142 118–140 118–140 0

China - caprolactam Spot USD/t 109 100–105 98–102 94–96 -5

Black Sea - caprolactam Spot 1 USD/t 128 125–130 120–125 120–125 0

Standard Bulk CFR

Southeast Asia - caprolactam Spot USD/t 133 130–135 120–125 115–120 -5

Brazil - caprolactam Spot USD/t 138 135–140 135–140 135–140 0

AMMONIUM NITRATE Bulk FOB

Black Sea Spot 1 USD/t 165 165–165 165–165 180–180 15

Baltic Sea Spot 1 USD/t 170 180–180 180–180 180–183 2

US Midwest Spot 1 USD/st 300 300–300 300–300 300–300 0

US Southern Plains Spot USD/st 235 230–240 230–240 230–240 0

US South East Spot USD/st 235 230–240 230–240 230–240 0

US New Orleans barge Spot USD/st 230 230–230 230–230 230–230 0

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Page 3: Fertilizer Week - MicrosoftUS California Spot USD/unit 7.54 7.03–7.10 7.03–7.10 7.03–7.10 0 Bulk FCA Rouen 30% Spot EUR/t 169 162–165 160–162 160–162 0 Germany 28% Spot

Weekly Overview 21 NOVEMBER 2019

crugroup.com PAGE 3 OF 7

Commodity/Type Unit OCT 2019

07 NOV

14 NOV

21 NOV W-on-W

Bulk CFR

Brazil Spot USD/t 206 203–208 201–206 201–206 0

Bulk CPT

France Spot EUR/t 275 270–280 260–265 235–250 -20

Bulk DEL

US South Spot 1 USD/st 253 250–255 250–255 250–255 0

Bagged FCA

UK Spot GBP/t 232 230–233 230–233 230–233 0

CAN Bulk CIF

Germany Inland Ports Spot EUR/t 187 180–183 172–175 172–175 0

Benelux Inland Ports Spot EUR/t 198 190–195 182–185 182–185 0

AMMONIA Bulk FOB

Black Sea Spot USD/t 231 225–235 220–230 220–225 -2

Baltic Sea Spot USD/t 233 232–233 232–233 232–233 0

Middle East Spot 1 USD/t 245 255–265 250–260 240–250 -10

Middle East (India) Contract USD/t 231 230–237 230–237 230–237 0

Middle East Spot/Contract 1 USD/t 238 230–265 230–260 230–250 -5

Caribbean Spot USD/t 221 225–225 225–225 225–225 0

Southeast Asia Spot USD/t 262 260–260 260–260 260–267 4

US New Orleans barge Spot USD/st 243 256–290 256–290 256–290 0

US Midwest Spot USD/st 357 385–395 385–395 380–390 -5

US Midwest East Spot USD/st 357 385–395 385–395 380–390 -5

US Midwest West Spot USD/st 355 385–385 385–385 380–390 0

US Northern Plains Spot USD/st 354 380–385 380–385 380–385 0

US Southern Plains Spot 1 USD/st 315 350–355 350–355 350–355 0

Bulk CFR

Southern Europe duty paid Spot/Contract 1 USD/t 281 265–295 265–290 265–285 -3

NW Europe duty paid Spot/Contract 1 USD/t 281 260–300 260–295 260–290 -3

Turkey Spot 1 USD/t 252 250–255 250–255 245–255 -3

Morocco Spot/Contract USD/t 252 245–255 245–255 240–250 -5

India Spot/Contract USD/t 266 255–295 255–295 255–280 -7

South Korea/Taiwan/China Spot/Contract USD/t 293 270–315 265–310 265–305 -3

Southeast Asia Spot/Contract 1 USD/t 292 290–290 290–290 290–295 3

US Gulf Spot USD/t 256 260–260 260–280 260–280 0

US Tampa Spot USD/t 256 260–260 260–260 260–260 0

US NOLA/Texas Spot USD/t 256 260–260 260–280 260–280 0

Bulk DEL

US Midwest rail Spot 1 USD/st 331 360–365 360–365 360–365 0

US California Spot USD/st 400 400–400 400–400 400–400 0

DAP Bulk FOB

US Gulf/Tampa Spot 1 USD/t 297 285–285 280–285 275–280 -5

Saudi Arabia Spot 1 USD/t 319 315–315 310–315 310–310 -3

Baltic/Black Sea Spot USD/t 306 285–315 280–310 250–310 -15

North Africa Spot 1 USD/t 315 295–320 290–315 288–310 -4

Morocco Spot USD/t 313 295–310 290–310 288–300 -6

Tunisia Spot 1 USD/t 327 315–320 315–315 310–310 -5

China Spot USD/t 312 306–308 302–306 302–304 -1

Mexico Spot/Contract 1 USD/t 294 280–280 280–280 280–280 0

Jordan Spot 1 USD/t 313 305–310 303–305 303–305 0

Australia Spot 1 USD/t 315 313–315 310–310 303–304 -6

US New Orleans barge Spot USD/st 273 242–259 242–244 242–248 2

US Central Florida Spot 2 USD/st NOM NOM NOM NOM NOM

US Midwest Spot USD/st 320 320–340 320–340 320–340 0

US Midwest East Spot USD/st 319 320–340 320–340 320–340 0

US Cincinnati Spot USD/st 319 320–340 320–340 320–340 0

US Midwest West Spot USD/st 320 320–340 320–340 320–340 0

US Twin Cities Spot USD/st 320 320–340 320–340 320–340 0

US Southern Plains Spot USD/st 320 310–315 310–315 280–290 -28

US Tulsa Spot USD/st 321 310–315 310–315 280–290 -28

US South Spot USD/st 323 320–320 320–320 320–320 0

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Page 4: Fertilizer Week - MicrosoftUS California Spot USD/unit 7.54 7.03–7.10 7.03–7.10 7.03–7.10 0 Bulk FCA Rouen 30% Spot EUR/t 169 162–165 160–162 160–162 0 Germany 28% Spot

Weekly Overview 21 NOVEMBER 2019

crugroup.com PAGE 4 OF 7

Commodity/Type Unit OCT 2019

07 NOV

14 NOV

21 NOV W-on-W

Bulk CFR

India Spot USD/t 328 325–327 320–323 315–318 -5

Pakistan Spot 1 USD/t 331 329–331 325–327 322–323 -3

Argentina/Uruguay Spot 1 USD/t 317 305–310 300–305 300–300 -3

Bulk FCA

Terneuzen/Ghent Spot 1 USD/t 350 340–340 335–335 330–335 -2

Bulk DEL

US California Spot 1 USD/st 416 390–410 390–410 390–410 0

US Northwest Spot 1 USD/st 429 410–440 410–440 410–440 0

Bagged CPT

China wholesale Spot 1 RMB/t 2450 2400–2500 2400–2470 2350–2400 -60

Bagged EXW

China (excludes export sales) Spot 1 RMB/t 2250 2200–2300 2200–2270 2150–2250 -35

MAP Granular Bulk FOB

US Gulf/Tampa Spot 1 USD/t 297 285–285 280–285 275–280 -5

US Twin Cities Spot 1 USD/st 322 340–345 325–340 325–340 0

US Tulsa Spot USD/st 322 315–320 315–320 290–290 -28

US Cincinnati Spot 1 USD/st 323 340–345 325–340 325–340 0

Baltic/Black Sea Spot 1 USD/t 283 270–275 265–270 255–280 0

Morocco Spot USD/t 309 290–310 285–305 285–300 -2

Mexico Spot/Contract 1 USD/t 294 280–280 280–280 280–280 0

US New Orleans barge Spot 1 USD/st 274 254–259 246–250 245–250 0

Saudi Arabia Spot USD/t 283 270–270 270–270 265–270 -2

China 11-44 Spot 2 USD/t NOM NOM NOM NOM NOM

Granular Bulk CFR

Brazil Spot USD/t 308 295–298 292–300 290–294 -4

Brazil 11-44 Spot 2 USD/t NOM NOM NOM NOM NOM

Bagged EXW

China 11-44-0 (excludes export sales) Spot 1 RMB/t 1847 1800–1850 1770–1850 1700–1800 -60

China 10-50-0 (excludes export sales) Spot 1 RMB/t 2075 2000–2050 2000–2050 1900–2000 -75

TSP Granular Bulk FOB

Morocco Spot 1 USD/t 294 275–305 260–290 260–290 0

Tunisia Spot 1 USD/t 305 300–305 290–295 290–295 0

China Spot 1 USD/t 250 220–240 220–230 220–230 0

Granular Bulk CFR

Brazil Spot 1 USD/t 285 260–280 250–275 250–275 0

Granular Bulk FCA

Benelux Spot 1 USD/t 333 330–330 320–320 320–320 0

SSP Bulk CPT

Brazil inland 18-20% P2O5 Spot 1 USD/t 210 200–220 200–220 190–210 -10

PHOSPHORIC ACID Bulk FOB

North Africa Q4 2019 100% P2O5 Contract 1 USD/t 688 555–810 555–810 555–810 0

Bulk CFR

India Q4 2019 30 days 100% P2O5 Contract USD/t 625 625–625 625–625 625–625 0

NW Europe Q4 2019 100% P2O5 Spot/Contract 1 USD/t 800 730–860 730–860 730–860 0

Brazil Q4 2019 100% P205 Spot/Contract 1 USD/t 686 655–705 655–705 655–705 0

PHOSPHATE ROCK Bulk FOB

Morocco (68-72% BPL) Contract 1 USD/t 89 72–105 72–105 72–105 0

Jordan Q4 2019 (66-72% BPL) Contract 1 USD/t 76 52–100 52–95 52–95 0

Jordan Q4 2019 (73-75% BPL) Contract 1 USD/t 108 105–110 103–105 103–105 0

Egypt (60-68% BPL) Spot/Contract 1 USD/t 47 35–55 35–55 35–55 0

Peru (63-68% BPL) Spot/Contract 1 USD/t 75 70–80 70–80 70–80 0

Algeria (63-66% BPL) Spot/Contract 1 USD/t 52 44–60 44–60 44–60 0

Bulk CFR

India (71-75% BPL) Spot/Contract 1 USD/t 123 115–125 115–125 115–125 0

India (65-70% BPL) Spot/Contract USD/t 90 65–110 65–110 65–110 0

NPKS Bulk FOB

Baltic Sea 16-16-16 Spot 1 USD/t 283 260–305 260–305 240–305 -10

Baltic Sea 15-15-15 Spot USD/t 273 250–295 250–295 225–295 -13

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Page 5: Fertilizer Week - MicrosoftUS California Spot USD/unit 7.54 7.03–7.10 7.03–7.10 7.03–7.10 0 Bulk FCA Rouen 30% Spot EUR/t 169 162–165 160–162 160–162 0 Germany 28% Spot

Weekly Overview 21 NOVEMBER 2019

crugroup.com PAGE 5 OF 7

Commodity/Type Unit OCT 2019

07 NOV

14 NOV

21 NOV W-on-W

Baltic Sea/Black Sea 10-26-26 Spot 1 USD/t 323 320–325 320–325 280–290 -38

Morocco 19-38-0-7 Spot 1 USD/t 309 259–277 259–277 259–277 0

Morocco 12-46-0-7 Spot 1 USD/t 295 280–285 280–285 275–280 -5

Morocco 15-15-15 Spot 1 USD/t 249 240–255 240–255 235–245 -8

Bulk CFR

Brazil 12-46-0-7 Spot 3 USD/t 312 300–300 300–300 295–295 -5

West Africa 15-15-15 Spot 1 USD/t 265 260–265 260–265 250–250 -13

China 16-16-16 Spot 1 USD/t 313 310–315 310–315 310–310 -3

Southeast Asia 16-16-16 Spot 1 USD/t 353 350–355 350–355 350–355 0

India 10-26-26 Spot 1 USD/t 358 357–358 357–358 310–320 -43

India 20-20-0-13 Spot 1 USD/t 274 265–268 265–268 265–268 0

Bagged EXW

China 15-15-15-Cl (excludes export sales) Spot 1 RMB/t 1950 1900–2000 1900–2000 1800–1900 -100

China 15-15-15-S (excludes export sales) Spot 1 RMB/t 2160 2100–2200 2100–2200 2000–2100 -100

POTASH Standard Bulk FOB

Vancouver Spot/Contract USD/t 256 239–270 241–272 241–272 0

Jordan/Israel Spot/Contract USD/t 252 232–265 233–265 231–263 -2

Baltic Sea Spot/Contract 1 USD/t 240 224–254 224–257 224–256 -1

Standard Bulk CPT

China/Russia cross border Spot/Contract 1 USD/t NOM NOM NOM 255–255 NOM

Standard Bulk CFR

China Contract 1 USD/t 290 290–290 290–290 290–290 0

India 180 days Contract 1 USD/t 288 280–280 280–280 280–280 0

Southeast Asia Spot 1 USD/t 283 270–285 270–280 270–280 0

Standard Bagged FCA

China port wholesale Spot 1 RMB/t 2175 2030–2280 2030–2250 2050–2250 10

Granular Bulk FOB

Vancouver Spot USD/t 273 260–276 260–273 255–273 -3

Baltic Sea Spot USD/t 267 254–277 254–271 254–271 0

Saskatchewan Coarse Spot 1 USD/st 230 230–230 230–230 230–230 0

US New Orleans barge Spot USD/st 238 235–238 235–238 230–232 -6

US Midwest East Spot USD/st 283 280–285 280–285 280–285 0

US Midwest West Spot USD/st 283 280–285 280–285 280–285 0

US South Spot USD/st 275 270–280 270–280 270–280 0

Granular Bulk CFR

Brazil Spot 1 USD/t 303 290–300 290–295 285–295 -3

Granular Bulk CIF

NW Europe Spot/Contract EUR/t 279 270–275 265–275 265–275 0

SOP Standard Bulk FCA

NW Europe Spot/Contract EUR/t 447 430–450 430–450 430–450 0

SULPHUR Bulk FOB

Baltic Spot 1 USD/t 46 35–45 35–45 35–45 0

Vancouver Spot 1 USD/t 47 40–45 40–45 38–43 -2

Middle East Spot USD/t 47 42–47 42–47 38–43 -4

Middle East Q4 2019 Contract USD/t 65 45–50 45–50 45–50 0

Adnoc Monthly November 2019 Contract USD/t 49 46–46 46–46 46–46 0

Muntajat Monthly November 2019 Contract USD/t 48 44–45 44–45 44–45 0

KPC Monthly November 2019 Contract USD/t 46 42–43 42–43 42–43 0

Mediterranean (excl. domestic contracts) Spot 4 USD/t 38 35–40 35–40 35–43 1

US Gulf Spot 3 USD/t 47 42–47 42–47 42–47 0

Bulk CFR

China (crushed lump & gran) Spot 1 USD/t 68 65–68 60–68 55–60 -6

India ex Middle East Spot 3 USD/t 68 65–70 65–70 55–60 -10

North Africa Q4 2019 Contract USD/t 71 52–65 52–65 52–65 0

Mediterranean (excl. domestic contracts) Spot 1 USD/t 58 55–60 55–60 55–60 0

Brazil Spot 3 USD/t 67 66–66 66–66 66–66 0

Bulk EXW

China Spot RMB/t 609 560–610 510–560 470–520 -40

Bulk FCA

China port Spot 1 RMB/t 581 530–580 485–535 430–480 -55

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Page 6: Fertilizer Week - MicrosoftUS California Spot USD/unit 7.54 7.03–7.10 7.03–7.10 7.03–7.10 0 Bulk FCA Rouen 30% Spot EUR/t 169 162–165 160–162 160–162 0 Germany 28% Spot

Weekly Overview 21 NOVEMBER 2019

crugroup.com PAGE 6 OF 7

Commodity/Type Unit OCT 2019

07 NOV

14 NOV

21 NOV W-on-W

Liquid Bulk FOB

US Tampa Q4 2019 Contract USD/lt 46 46–46 46–46 46–46 0

Liquid Bulk CPT

NW Europe Q4 2019- truckload Contract USD/t 146 123–148 123–148 123–148 0

Liquid Bulk CFR

Benelux Q4 2019 - barge/railcar Contract USD/t 122 105–119 105–119 105–119 0

SULPHURIC ACID Bulk FOB

NW Europe 30 days Spot 1 USD/t 39 30–40 30–40 30–40 0

Japan/South Korea Spot/Contract 1 USD/t 9 5–12 5–10 5–10 0

Bulk CFR

Chile Spot 3 USD/t 75 70–80 70–80 70–80 0

Chile Contract 1 USD/t 133 128–138 128–138 128–138 0

NW Europe Q4 2019 Contract EUR/t 88 81–94 81–94 81–94 0

Turkey Spot/Contract USD/t 75 65–85 65–85 65–85 0

US Gulf Spot USD/t 65 60–70 60–70 60–70 0

Brazil Spot USD/t 70 67–72 67–72 67–72 0

India Spot USD/t 40 30–40 30–40 30–35 -2

(1) Indicative Price (2) No Market (3) No Recent Business (4) Indicative Price, Mediterranean (excl. domestic contracts) Spot covers volumes less than 10K mt; Mediterranean (incl. North Africa) Spot covers quantities  over 10K mt; NW Europe H2 2014 - truckload Contract and Benelux H2 2014 - barge/railcar

Weekly Freights

Commodity/Type Unit OCT 2019

07 NOV

14 NOV

21 NOV W-on-W

UREA

Yuzhnyy - Turkey 10-15,000 mt 8,000c/3,000c USD/t 13 12–14 12–14 11–13 -1

Yuzhnyy - Mundra 60-70,000 mt 10,000c/10,000x USD/t 30 27–29 25–27 24–26 -1

Yuzhnyy - Brazil 25-30,000 mt 8,000c/5,000c USD/t 29 24–26 26–28 27–29 1

Yuzhnyy - EC Mexico 25-30,000 mt 8,000c/3,000c USD/t 31 25–27 28–30 29–31 1

Baltic - WC India 55-60,000 mt 8,000c/10,000x USD/t 38 37–39 37–39 37–39 0

Baltic - Brazil 25-30,000 mt 8,000c/5,000c USD/t 28 23–25 24–26 24–26 0

Baltic - EC Mexico 25-30,000 mt 8,000c/3,000c USD/t 31 27–29 25–27 27–29 2

Baltic - WC Mexico 25-30,000 mt 8,000c/4,000c USD/t 43 39–41 37–39 40–42 3

Middle East - WC India 30-35,000 mt 6,000x/10,000x USD/t 13 12–14 10–12 10–12 0

Middle East - Vietnam 30-35,000 mt 6,000x/2,500x USD/t 26 23–25 20–22 22–24 2

Middle East - Miss River, US 40-45,000 mt 6,000x/10,000c USD/t 28 26–28 25–27 26–28 1

China - US Gulf 50-55,000 mt 5,000c/10,000c USD/t 24 26–28 23–25 23–25 0

Egypt - US Gulf 40-45,000 mt 6,000x/10,000x USD/t 25 20–22 19–21 20–22 1

North China - EC India 60-65,000 mt 5,000c/10,000x USD/t 15 14–16 11–13 11–13 0

UAN

Black Sea - EC US 17-27,000 mt USD/t 33 32–35 32–35 32–35 0

Black Sea - French Atlantic 17-27,000 mt USD/t 24 24–26 24–26 24–26 0

AMMONIA

Yuzhnyy - US Tampa 38-40,000 mt USD/t 59 58–62 58–62 58–62 0

Yuzhnyy - NW Europe 22-24,000 mt USD/t 55 54–59 54–59 54–59 0

Yuzhnyy - S Europe 13-15,000 mt USD/t 40 39–42 39–42 39–42 0

Yuzhnyy - Morocco 22-24,000 mt USD/t 42 41–44 41–44 41–44 0

Yuzhnyy - Far East 22-24,000 mt USD/t 126 125–130 125–130 125–130 0

Baltic - NW Europe 13-15,000 mt USD/t 26 25–29 25–29 25–29 0

Middle East - WC India 22-24,000 mt USD/t 22 22–24 22–24 22–24 0

Middle East - EC India 22-24,000 mt USD/t 43 41–46 41–46 41–46 0

Middle East - Far East 23-40,000 mt USD/t 62 49–80 49–80 49–80 0

DAP-MAP

Baltic - Brazil 35-40,000 mt 8,000c/5,000c USD/t 22 19–21 20–22 20–22 0

Baltic - WC India 35-40,000 mt 8,000c/10,000c USD/t 44 40–42 39–41 39–41 0

China - Miss River 50-55,000 mt 5,000c/10,000c USD/t 24 28–30 24–26 24–26 0

China - Pakistan 35-40,000 mt 5,000c/3,500x USD/t 22 21–23 18–20 18–20 0

China - WC India 35-40,000 mt 5,000c/10,000x USD/t 21 18–20 15–17 15–17 0

Morocco - Brazil 25-30,000 mt 8,000x/5,000c USD/t 19 17–19 16–18 17–19 1

Morocco - Miss River 50-55,000 mt 8,000x/10,000c USD/t 17 13–15 13–15 13–15 0

Red Sea - WC India 35-40,000 mt 8,000x/10,000x USD/t 17 16–18 16–18 17–19 1

Tampa - Brazil 35-40,000 mt 8,000c/5,000c USD/t 25 20–22 21–23 21–23 0

Tampa - WC India 60-65,000 mt 8,000c/10,000x USD/t 44 39–41 38–40 38–40 0

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Page 7: Fertilizer Week - MicrosoftUS California Spot USD/unit 7.54 7.03–7.10 7.03–7.10 7.03–7.10 0 Bulk FCA Rouen 30% Spot EUR/t 169 162–165 160–162 160–162 0 Germany 28% Spot

Weekly Overview 21 NOVEMBER 2019

crugroup.com PAGE 7 OF 7

Commodity/Type Unit OCT 2019

07 NOV

14 NOV

21 NOV W-on-W

Tunisia - Turkey 10-15,000 mt 6,000x/3,000c USD/t 12 11–13 11–13 11–13 0

PHOSPHORIC ACID

Morocco - WC India 20-30,000 mt Solution USD/t 35 32–38 33–39 33–39 0

Morocco - NW Europe 7-10,000 mt Solution USD/t 25 23–27 23–27 23–27 0

PHOSPHATE ROCK

Red Sea - WC India 35-40,000 mt 8,000x/10,000x USD/t 17 16–18 16–18 17–19 1

Morocco - WC India 50-55,000 mt 8,000x/10,000x USD/t 33 27–29 26–28 26–28 0

MOP

Vancouver - China 50-60,000 mt 12,000c/10,000c USD/t 22 20–22 18–20 18–20 0

Vancouver - SE Asia 40-45,000 mt 12,000c/10,000c USD/t 31 29–31 27–29 27–29 0

Vancouver - Brazil 40-45,000 mt 12,000c/10,000c USD/t 28 28–30 28–30 28–30 0

Vancouver - India 45-50,000 mt 10,000c/10,000x USD/t 35 33–35 30–32 30–32 0

Baltic - SE Asia 50-55,000 mt 8,000c/5,000x USD/t 45 44–46 44–46 44–46 0

Baltic - China 60-65,000 mt 8,000c/6,000c USD/t 41 36–38 33–35 34–36 1

Baltic - WC India 35-45,000 mt 8,000c/10,000c USD/t 44 40–42 39–41 39–41 0

Baltic - Brazil 25-30,000 mt 8,000c/5,000c USD/t 28 23–25 24–26 24–26 0

Ashdod - Brazil 30-35,000 mt 6,000x/5,000c USD/t 26 25–27 25–27 25–27 0

Red Sea - China 50-55,000 mt 8,000x/10,000c USD/t 28 25–27 25–27 27–29 2

Red Sea - SE Asia 25-30,000 mt 8,000x/10,000c USD/t 38 36–38 35–37 37–39 2

Red Sea - WC India 20-30,000 mt 8,000x/10,000x USD/t 22 20–22 20–22 21–23 1

SULPHUR

Vancouver - China 60-65,000 mt 12,000c/10,000c USD/t 21 18–20 16–18 16–18 0

Vancouver - Brazil 40-50,000 mt 12,000c/10,000c USD/t 28 28–30 28–30 28–30 0

Middle East - China 30-35,000 mt 8,000c/8,000c USD/t 21 19–21 16–18 17–19 1

Middle East - Morocco 35-40,000 mt 10,000c/5,000x USD/t 20 19–21 18–20 19–21 1

Middle East - EC India 30-35,000 mt 8,000c/12,000c USD/t 16 14–16 12–14 13–15 1

Black Sea - Morocco 25-30,000 mt 8,000c/5,000x USD/t 19 17–19 16–18 17–19 1

SULPHURIC ACID

NW Europe - US Gulf 17-20,000 mt USD/t 26 28–30 29–31 31–33 2

NW Europe - Brazil 18-20,000 mt USD/t 33 33–34 34–35 35–36 2

NW Europe - North Africa 20-27,000 mt USD/t 20 17–25 18–26 18–26 0

Japan/South Korea - Chile 20-27,000 mt USD/t 66 64–70 65–71 65–71 0

Japan/South Korea - China 10-15,000 mt USD/t 20 17–22 17–22 17–22 0

Japan/South Korea - India 15-20,000 mt USD/t 28 27–29 27–29 27–29 0

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