U.S. Gulf:
Potash barge trades were reported at $590-$610/st FOB, up from the week-ago $585-$605/st FOB.
Eastern Cornbelt:
The potash market was pegged at $630-$650/st FOB for prompt tons in the Eastern Cornbelt, up $10-$20/st, depending on location, with the low reported at Cincinnati early in the week and the upper end confirmed out of spot Illinois River terminals as the week progressed.
Western Cornbelt:
Potash prices were reported at $610-$650/st FOB in the Western Cornbelt, depending on location and time of shipment. Sources pegged the St. Paul market at $635-$650/st FOB, with Catoosa/Inola pricing reported at the $640/st FOB level at midweek.
Southern Plains:
Intrepid raised its potash postings at Carlsbad, N.M., early in the week. New levels include $675/st FOB for 60 percent white granular and $695/st FOB for 62 percent white standard, up from the previous list prices of $620/st for 60 percent white granular and $627/st for 62 percent white standard.
The company made no price adjustments to its Trio postings.
California:
Potash pricing remained at a firm $695-$705/st FOB for Q4 shipment in California, with the low for 60 percent and the high for 62 percent MOP.
Pacific Northwest:
The potash market remained at $642-$652/st FOB warehouses in Washington, Oregon, and northern Idaho for Q4 shipment, with the low for 60 percent and the high for 62 percent MOP.
Intrepid raised its potash postings at Moab and Wendover, Utah, early in the week. New levels include 60 percent white standard at $670/st FOB and 60 percent white granular at $675/st FOB, up from the last postings of $620/st for 60 percent white granular and $615/st for 60 percent white standard.
Western Canada:
The potash market remained at a firm C$755-$765/mt FOB Saskatchewan mines for Q4 truck tons.
India:
The government is expected to increase funds available to cover MOP subsidies by US$3.94 million to meet rising global prices.
Local media is reporting prices have jumped from $280/mt to $445/mt CFR. The higher price seems to be based on unconfirmed reports of an award this week in the RCF tender that closed on Aug. 27 (GM Sept. 3, p. 14). There were reports that Belarusian Potash Co. (BPC) was awarded the entire tender requirement of 105,000 mt of white/pink standard potash. However, Green Markets was unable to independently confirm the award or the price level.
Under the original tender requirement, the tons were for delivery to Hay Bunder in three lots of 35,000 mt, with the first shipment to arrive on or before Oct. 15, the second on or before Nov. 15, and the third by Dec. 21.
China:
The National Development and Reform Commission instructed importers to ensure a plentiful supply of MOP for the domestic market. Unlike urea and phosphates, which are produced in China, the commission can only address the role of importers and local distributors.
Chinese MOP imports for January through August were reported at 5.5 million mt by Trade Data Monitor. This represents a 1.2 percent decrease from the 5.6 million mt imported during the same period last year. The main suppliers were Russia at 1.55 million mt, Canada at 1.5 million mt, and Belarus at 1.3 million mt.
August 2021 MOP imports of 382,000 mt showed a 55 percent decrease from the August 2020 amount of 855,000 mt. The August imports were the lowest so far this year. The average take each month is 194,000 mt.
Brazil:
Paranagua is quoted at $730-$770/mt CFR. Sources said the tightening of the market comes as MOP shipments are being delayed and buyers are sitting and waiting for their vessels to dock.The lower end of the Rondonopolis market dropped out, leaving the price at $860/mt FOB ex-warehouse.