U.S. Gulf: Most continued to call prompt barges in the $180-$190/st FOB range. While some were bullish that prices were starting to move up, others said they would not be surprised to see them go lower.
There were unconfirmed reports that one player was re-exporting potash, an indication of both a weak market as well as an opportunity to shore it back up.
Eastern Cornbelt: Potash was quoted at $230-$245/st FOB in the Eastern Cornbelt for new sales.
Western Cornbelt: The potash market remained flat at $225-$245/st FOB in the Western Cornbelt, with the low confirmed in St. Louis, Mo., and the upper end FOB St. Joseph, Mo. Several sources pegged the bulk of spot quotes in the $330-$335/st FOB range in the region in late March.
California: The potash market continued to be reported at $425-$430/st FOB California warehouses, with delivered tons pegged in the $430-$440/st range, depending on grade and location.
Sulfate of potash (SOP) was steady at $682-$695/st FOB in California, although some sources reported rail-DEL tons coming into the state for as low as $637/st in late March.
Crystalline potassium nitrate was unchanged at $950/st FOB for bulk tons and $1,020/st FOB for bags.
Pacific Northwest: Regional sources quoted the potash market at $338-$350/st rail-DEL or FOB warehouses for new sales, with the low for 60 percent and the upper end for 62 percent MOP. The potash market FOB Utah mines remained at reference levels of $315-$320/st.
“Potash has not slipped like it has elsewhere, and I really don’t expect it to change dramatically until the season begins to wind down,” said one regional contact. “If you don’t have your supply planned out by now, the season will be over I suspect. Based on my scorekeeping, we are about half through the potash season.”
Sulfate of potash (SOP) remained at $610-$627/st FOB in the Pacific Northwest.
SOP Magnesia was steady as well at $443-$463/st FOB in the region.
Western Canada: Western Canada sources quoted the potash market at $350-$355/mt FOB Saskatchewan mines, with the regional warehouse market pegged at $385-$390/mt FOB.
India: The Indian government is reducing the subsidy of potash from Rs15,500/mt (US$231.76/mt) to Rs15,470/mt (US$231.26/mt). The move comes as the government expects lower prices for potash in the upcoming fiscal year.
Northwest Europe: While spring application is getting underway, demand for potash is described as lackluster amidst high inventories across the region. Prices for granular material remained unchanged in the €275-€290/mt CIF range.
Jordan: Arab Potash Co. said its potash sales to China increased 6 percent in 2015 compared with a year earlier, to 679,613 mt.