U.S. Gulf: Prompt barges drifted lower for the week. Most traders quoted the market at $180-$190/st FOB, including a number of trades confirmed at the $180/st FOB level.
Upriver barges were expected to bring a premium, likely in the $195-$200/st FOB range, sources indicated.
U.S. Imports: MOP imports were down 23 percent in January, to 831,745 st from the year-ago 1.08 million st. July-January imports were off 19 percent, to 5.54 million st from 6.82 million st.
YTD imports were down from all major supplying countries – Canada, Chile, Russia, and Israel – although there was a slight uptick in imports from Belarus, to 42,346 st from the year-ago 31,196 st.
Eastern Cornbelt: The potash market was pegged at $235-$245/st FOB in the region, with the low reported at Cincinnati and Ottawa and reflecting another $5/st drop from last report. The upper end of the regional range was quoted out of inland warehouses. The Burns Harbor potash market was pegged at the $240/st FOB level for new sales.
Sulfate of potash remained at the $620/st level FOB Toledo, Ohio.
Western Cornbelt: The potash market remained under pressure in the Western Cornbelt. Sources quoted a broad range at $225-$245/st FOB for new sales, depending on location and grade, with the low end of the range reflecting another drop from last report. One Iowa contact pegged the common red granular market at the $232/st FOB level in his trade area last week.
Northern Plains: Potash pricing out of regional warehouses in the Northern Plains was reported at $240-$245/st FOB. Rail-DEL tons remained at $250-$260/st in North Dakota, with the market FOB Saskatchewan mines quoted at $210-$220/st FOB after netbacks, depending on grade.
Northeast: Some sources said potash pricing FOB Baltimore had firmed to the $262/st level last week, while others said the last sales out of that location were concluded at the $242/st FOB level. Other warehouse prices in the region included $250/st FOB Lancaster, Pa.
Several sources said they expect spring potash application rates to be up in the Northeast after several years of reductions, particularly if weather conditions favor an early start to the spring season.
Eastern Canada: Sources reported lower potash prices in Eastern Canada, driven by significant pricing cut in late February. The regional warehouse market was quoted at $405/mt FOB, down $30/mt or more from last report.
India: MMTC on March 11 closed a tender for 1,350 mt +/-10 percent of potassium sulfate in bags. The tender calls for delivery in two containerized shipments, one at 1,020 mt +/-10 percent to JNPT (Nhava Sheva Port) and another at 330 mt +/-10 percent to Krishnapatnam port in the first half of April.
Offers are required to remain valid for a minimum of 30 days after tender opening.
Pakistan: Belarus Minister for Industry Vitaly Vovk met with Pakistan Commerce Minister Khurram Dastgir Khan and other businessmen recently to discuss improving bilateral trade between the two countries, including exports of potash to Pakistan.