U.S. Gulf:
NOLA potash barges continued to firm. Recent trades were reported at $250-$262/st FOB, with most tilting toward the upper end of the range. March trades were called $265-$270/st FOB.
Eastern Cornbelt:
The potash market was quoted at $305-$330/st FOB in the Eastern Cornbelt, with the low reported out of spot river locations. Canadian producers were referenced solidly at the $325-$330/st FOB level for tons shipped now through Q2.
Western Cornbelt:
Potash pricing was pegged at $305-$315/st FOB St. Louis and $310-$325/st FOB in the Iowa market, depending on location. Sources quoted the Catoosa/Inola potash market at $300-$305/st FOB at midweek, with a move to $310-$315/st FOB expected imminently.
Northern Plains:
Sources quoted the potash market at $315-$325/st FOB and $330-$340/st DEL in the Northern Plains. The market to U.S. buyers FOB Saskatchewan mines was reported at $285-$295/st for spring tons after netbacks, depending on grade.
Great Lakes:
Potash was pegged at $310-$334/st FOB in the Great Lakes region, depending on grade and location, with the low confirmed by Wisconsin sources FOB East Dubuque. Michigan warehouse prices were reported at $330/st FOB for red and $334/st FOB for white potash at mid-month.
Northeast:
Potash pricing was pegged at $300-$315/st FOB Fairless Hills for 60 percent red MOP, up some $5-$10/st from last report. The low was confirmed for January tons, with the price firming to $305/st FOB for February-March and $315/st FOB for Q2 shipments.
Russia:
Russia’s potash exports for the 11 months through November 2020 increased 9 percent year-over-year, to 8.6 million mt from 7.9 million mt during the same period in 2019, according to Trade Data Monitor. India was a big driver, importing 721,000 mt of potash from Russia in the 2020 period, up from 341,850 mt in 2019.
China:
China’s potash imports in 2020 amounted to 8.83 million mt, down 3 percent from 9.1 million mt 2019, according to Trade Data Monitor figures released on Jan. 21. The big gap in imports occurred during the first half of the year, when much of the country was in shutdown due to the COVID pandemic
First-half 2020 imports totaled 3.8 million mt, according to Trade Data Monitor, compared with 5.5 million mt during the same period in 2019. The second semester of 2020 bounced back to just under 5 million mt, against 3.6 million mt for the same period in 2019.
Brazil:
Potash pricing ideas in Paranagua moved up the lower end of the previous range, leaving the market in the low-$260s/mt CFR. Traders said the movement upward is expected to continue into June, where pricing expectations are set at $270/mt CFR.
While some strength is showing up in the port cities, inland prices were steady at $314-$345/mt FOB ex-warehouse in Rondonopolis, but up in Sorriso at $345-$355/mt FOB ex-warehouse.
| Brazil MOP Prices | ||
| Terminal/City | US$/mt FOB | |
| Week ending 01/15 | Week Ending 01/22 | |
| Rondonopolis | 314-345 | 314-345 |
| Sorriso | 325-356 | 345-355 |