U.S. Gulf:
Most pegged the latest NOLA barge business at a firm $625/st FOB, down from the week-ago $640-$645/st FOB. Despite the drop, some players believed potash had room to move back up on the heels of the increases in urea and phosphates. Others disagreed, however, seeing less demand for the product.
Eastern Cornbelt:
The potash market was pegged in a broad range at $700-$720/st FOB Cincinnati, with the Ottawa market reported at the $705/st FOB level. Michigan sources continued to quote the Toledo market at $750-$760/st FOB in early February.
Western Cornbelt:
Potash pricing remained at $690-$710/st FOB in the Western Cornbelt, with the low reported at St. Louis.
Southern Plains:
Potash pricing was pegged at $710/st FOB Houston and $690-$710/st FOB Catoosa/Inola. The last postings from Intrepid FOB Carlsbad, N.M., in mid-December included $780/st FOB for 60 percent white granular and $800/st FOB for 62 percent white standard.
South Central:
The potash market was quoted at $705-$715/st FOB in the South Central region, depending on location, with the Memphis market reported at $710-$715/st FOB in early February.
Southeast:
Potash pricing was quoted at $720-$730/st FOB Wilmington, with reports of rail-DEL offers in the $738-$750/st range in the Southeast from Canadian suppliers.
India:
FACT called a tender on Jan. 31 for two 40,000 mt lots of standard potash for delivery to Tuticorin port. The first shipment is required to arrive between March 20-30 and the second between April 20-30. The tender closes on Feb. 14.
Offers into RCF’s tender for the supply of 170,000 mt of standard potash that closed on Jan. 28 (GM Jan. 21, p. 15) were reported north of $600/mt CFR. Offers are required to remain valid for 30 days, but details on the companies offering into the tender were not known by press time. No awards are yet reported.
Of the tender tonnage, 85,000 mt is requested for shipment in February and 35,000 mt in March, plus 50,000 mt at mutual option for March shipment.
Brazil:
The Brazil market for MOP tightened as buyers and sellers became more anxious about possible shortages related to sanctions against Belarus and disruptions related to the dispute between Russia and Ukraine. Sources put the price at 760-$805/mt CFR at the ports.
The same anxiety over the future of MOP tightened the inland market to $880-$918/mt FOB ex-warehouse.