US Gulf:
The NOLA potash market slipped to $310-$320/st FOB, down from last week’s $315-$320/st FOB range, with the low confirmed for new sales for February loading.
Potash was quoted at $370-$395/st FOB in the Eastern Cornbelt, depending on location, grade, and time of shipment, with the low reported at Illinois River terminals and the high out of inland warehouses in Ohio. The Cincinnati market remained at the $375-$380/st FOB level for prompt tons.
In the Great Lakes region, recent potash offers in Michigan included $415-$420/st DEL and $415-$423/st FOB, with the low for red tons and the high for white.
Western Cornbelt:
Potash was steady at $365-$385/st FOB in the Western Cornbelt, with the low confirmed at St. Louis.
California:
Potash remained at $518-$548/st FOB or DEL in California for the last offers, with the low for 1Q tons and the high for 2Q shipments.
Pacific Northwest:
Potash pricing in the Pacific Northwest increased to $495-$503/st FOB or DEL for post-fill offers, with the high reflecting reference pricing for 62% MOP and the low for 60%. Those levels were up $30/st from the mid-January fill prices.
The last potash postings from Intrepid FOB Moab and Wendover, Utah, included $435/st FOB for 60% white standard and $440/st for 60% white granular.
Western Canada:
Truck pricing for potash in Western Canada was pegged solidly at the C$580-$585/mt level FOB Saskatchewan mines in early February, depending on grade, up from C$540-$545/mt FOB for earlier 1Q fill offers.
Southeast Asia:
Standard potash offers were reported as high as $320/mt CFR in Vietnam, but no new business was confirmed at that level. Lower indications were heard in Malaysia in the $280-$290/mt CFR range, leaving the current range at $290-$310/mt CFR. Granular potash was reported at $345-$355/mt CFR, though no new deals could be confirmed.
Brazil:
Brazil potash slipped to $280-$300/mt CFR, off from $285-$300/mt CFR. Domestic discounts continued to track below CFR replacement costs, players said. While some suppliers tested week-over-week increases of $10/mt, others continued to aggressively hunt for business.
Prices fell slightly in Rondonópolis, to $400-$415/mt FOB ex-warehouse from last week’s $405-$415/mt FOB. Following reports of high-volume sales in recent days, several companies have started to roll back discounts. Others continue to compete for buyers, however, offering concessions that take prices as low as $380-$390/mt FOB.
Potash imports totaled 852,000 mt in January, Trade Data Monitor reported, a 63% increase on the year-ago 523,000 mt. The amount represented Brazil’s largest January potash import total in the past five years.