Phosphate benchmarks cited in mid-2021 sulphur market reviews put DAP Morocco near $584 per tonne FOB, up 95 percent year on year, and Brazil MAP near $714 per tonne CFR, up 125 percent year on year. Eight- to nine-year phosphate highs underpinned the sulfur rally even as analysts warned new OCP, India, and Brazil phosphate capacity could pressure 2022-23 affordability. The trends piece is at https://www.bcinsight.crugroup.com/2021/07/31/ammonia-and-sulphur-market-trends/.
Tampa about $192 per long ton by mid-June, from about $83 in early January and $54 a year earlier, is the sulfur contract those phosphate highs supported. Sulfuric acid on phosphate rock is why Tampa exists. $584 DAP and $192 sulfur are the same plant's two input-and-output prices. When DAP is at eight-year highs, sulfur can firm without a Claus outage.
Alberta recovered sulfur still leaves mainly through Vancouver. Brazil MAP at $714 CFR is an Atlantic phosphate bid that can pull US Gulf and Canadian molten or solid when freight aligns. Morocco DAP at $584 is an OCP bid that pulls Gulf granules and, later, Kazakh Ust-Luga tonnes. Vancouver's 2.29 million tonne 2021 year was still China-and-term. Mid-2021 phosphate highs are why 2022's first-half stems would pay $478 FOB.
The affordability warning about new OCP, India, and Brazil capacity is the same year's counterpoint. IFA's 2023 MAP and DAP still below 2020 showed the warning's volume side. July 2022's sulfur crash showed the warning's price side. July 2021 is the high, not the break.
CRU's later conference call for strong phosphate base-demand growth through 2022-23 in Morocco and Saudi Arabia is the volume-outlook version of these $584 and $714 prints. Two CRU-linked sentences, one phosphate complex. TFI's 198 percent sulfur cost is the US input version.
China 2020 import plunge of about 3 million tonnes had already tightened availability. Mid-2021 phosphate highs met that tightness. October inspections would add policy. The $584/$714 pair is demand-side phosphate pricing before that policy date.
Licensed weekly grids are not restated. The $584 and $714 figures are BC Insight and Argus mid-2021 market-trend language.
Figures follow BC Insight. DAP Morocco $584 and Brazil MAP $714 are the 2021 phosphate-price chapter under the sulfur rally.