US Gulf:
The NOLA potash market slipped to $295-$305/st FOB for new business this week, down from the prior $305-$310/st FOB range. The drop at NOLA was accompanied by softer inland warehouse pricing as well.
Potash terminal prices remained under pressure in late April, with the latest offers falling to $340-$370/st FOB in the Eastern Cornbelt, down from last week’s $365-$375/st FOB range. The low was quoted out of Ottawa and LaSalle, Ill., with the Cincinnati market holding at the $365-$370/st FOB level.
Western Cornbelt:
Potash was quoted at $350-$370/st FOB in the Western Cornbelt, depending on location, with the St. Louis market reported at the $355-$360/st FOB level in late April.
Southern Plains:
Potash slipped to $355-$370/st FOB Catoosa/Inola for prompt truck tons, down from the previous $370-$380/st FOB range. Potash postings from Intrepid FOB Carlsbad, N.M., were steady at $460/st for 60% white granular and $468/st for 62% white standard.
South Central:
South Central potash pricing fell $5/st from last week, to $350-$365/st FOB.
Southeast:
Potash widened to $330-$350/st FOB in the Southeast, depending on location and timing, with the higher numbers reported later in the week due to tight supply at some terminals. Rail-DEL offers were pegged at the $345-$365/st in the region, with the low reported in Virginia.
Northwest Europe:
Granular potash prices in Northwest Europe declined once again this week amid lackluster demand. Standard potash was unchanged at €320-€340/mt CIF for now, but sources expect these prices will soon succumb to downward pressure as well, following global trends.
Southeast Asia:
The expectation of renewed demand momentum and price support after the Eid holiday fell flat in Southeast Asia, where standard potash prices declined $10/mt at the low end of the range, to $285-$315/mt CFR. With several standard potash import tenders yet to be settled in Malaysia, market updates were scarce this week.
Granular potash prices in the region were also down slightly at $335-$355/mt CFR. No updates on the status of the Indian potash contract were reported despite rumors that an agreement is imminent. The previous contract was settled at $319/mt CFR, with expectations that the new contract will conclude below the $300/mt mark.
China:
First-quarter potash imports in China totaled 3.9 million mt, Trade Data Monitor reported,up 50% from the year-ago 2.6 million mt. Russia sent 1.4 million mt, Canada added 999,000 mt, and Belarus followed with 758,000 mt. March imports were pegged at 1.2 million mt, up 26% from the 956,000 mt received in March 2023.
India:
Potash imports in India totaled 457,000 mt in January-March, according to Trade Data Monitor, a73% increase from the year-ago 265,000 mt. Russia supplied 183,000 mt, followed by Canada with 173,000 mt. March imports were 250,000 mt, up significantly from 97,000 mt in March 2023.
Brazil:
Potash prices remained at $300-$310/mt CFR, unchanged for a seventh consecutive week. Attempts to sell at $320/mt CFR were unsuccessful, players said.
Prices were stable at $420-$435/mt FOB Rondonópolis, unchanged from the prior report. A large section of the market has already covered its potash needs for the season, and sources reported fewer volumes under negotiation during the week.