US Gulf:
The latest confirmed NOLA potash trades continued to be reported at the $270/st FOB level, unchanged from the previous week.
Potash remained at $315-$335/st FOB in the Eastern Cornbelt, with the Cincinnati market pegged at the $320/st FOB level in early September. Delivered potash pricing in central Michigan was quoted at $350-$355/st for September tons.
Western Cornbelt:
Potash was unchanged at $315-$330/st FOB in the Western Cornbelt, with the low reported at St. Louis.
California:
Potash pricing was steady at $480-$488/st FOB or DEL in California.
Pacific Northwest:
Potash in the Pacific Northwest was quoted at $410-$443/st FOB or DEL, depending on grade and location. The latest potash reference prices from Intrepid FOB Moab and Wendover, Utah, continued at $400/st FOB for 60% white standard and $405/st FOB for 60% white granular.
Western Canada:
The potash market in Western Canada remained at C$475-$505/mt FOB the mine for the latest sales, with the higher end of the range reflecting post-fill reference prices from producers. Sources said business is still being done at the lower end of the range for 3Q shipment, however.
Northwest Europe:
Potash demand has yet to pick up in Northwest Europe, with standard potash prices slipping to €305-€330/mt CIF as distributors clear old stocks. Granular prices were unchanged at €330-€350/mt CIF. No news was heard on updated prices for the new season, but many continue to point to mid-September for a reset.
Southeast Asia:
Despite no award being made public in the Indonesian import tender, offers have now been confirmed at $303-$304/mt CFR, significantly above current market levels of $280-$290/mt CFR for standard potash. The India contract price is expected by many to resettle at the higher end of the current $279-$283/mt CFR range, with one supplier still pursuing a price readjustment.
Demand in Malaysia and Thailand remains sluggish, resulting in unchanged price assessments, with standard potash at $280-$290/mt CFR pending and official award by Pupuk Indonesia, and granular product holding at $330-$340/mt CFR.
Israel:
The Israel FOB price moved $5/mt higher, to $240-$250/mt FOB, reflecting netbacks from the recent India contract settlement between IPL and ICL. ICL is reportedly sold out through the end of the year.
Thailand:
January-July potash imports totaled 574,000 mt, Trade Data Monitor reported, a significant increase from the year-ago 356,000 mt. Canada led suppliers with 231,000 mt, followed by Laos with 136,000 mt. July imports were 153,000 mt, rising from the 62,000 mt received in July 2023.
Brazil:
The Brazil potash market was steady at $290/mt CFR, with bids reported in the $280-$285/mt CFR range failing to transact.
The inland market continues to be pressured by overabundant supply. Prices dropped $10/mt at the low side, to $410-$430/mt FOB Rondonópolis from $420-$430/mt FOB at last report. Despite the decline, potash continues to offer growers a favorable barter ratio, sources said.