US Gulf:
The NOLA potash
market slipped slightly, to $315-$325/st FOB from last week’s $320-$325/st FOB
range, with the low reported for prompt trades of imported tons.
Eastern Cornbelt:
Potash was quoted
at $365-$395/st FOB in the Eastern Cornbelt, depending on location and time of
shipment, with the low confirmed for 60% red MOP out of spot Illinois River
terminals for January-February tons. The Cincinnati market was pegged at the
$375-$380/st FOB level for January-February.
The order period
for 1Q potash fill tons at the $385/st FOB level in the Midwest reportedly
closed on Jan. 19-23, depending on supplier, with new postings up $30/st for 2Q
shipments.
Western Cornbelt:
Potash was steady at $360-$390/st FOB in the Western Cornbelt, with the St. Louis market quoted at $360-$370/st FOB.
Northern Plains:
Potash
was steady at $385-$410/st FOB in the Northern Plains, with delivered tons
reported at the $400/st level. The latest prices FOB Saskatchewan mines
were quoted at $363-$367/st FOB, depending on grade.
Great Lakes:
Potash
pricing in the Great Lakes region ranged broadly at $380-$423/st FOB, depending
on location, with most Michigan warehouses quoted at the $415/st FOB level for
red and $423/st FOB for white MOP.
Northeast:
Potash pricing in
the Northeast was pegged at $355-$380/st FOB, up $20/st from last report, with
the low confirmed at Baltimore and the high at East Liverpool. No current
prices were reported at Fairless Hills in late January.
Eastern Canada:
After slipping to
the C$580/mt FOB level for 1Q fill offers at mid-month, potash prices in
Eastern Canada were reportedly up C$45/mt, moving to C$625/mt FOB for 2Q
business. “There was quite a bit of business done on this program,” reported
one regional contact.
China:
China
imported 11.7 million mtof potash in 2023, Trade Data Monitor
reported, a 46% increase on the year-ago 8 million mt. Belarus sent 29% of the
tonnage with 3.4 million mt, while Russia sent 3 million mt and Canada added 2
million mt. December imports nearly doubled, to 1.3 million mt from 644,000 mt
in December 2022. Russia, Belarus, and Canada were each responsible for about
25% of the month’s imports.
Brazil:
Potash prices in Brazil continued their retreat,
softening $5/mt at the bottom of the range to $285-$300/mt CFR, while lower
pricing was reported inland. Despite reports of healthy demand and steady
deliveries, oversized inventories are keeping pressure on the market, sources said.
Increased aggressiveness from potash producers
dragged Rondonópolis levels as low as $405-$410/mt FOB
this week, while unconfirmed small-lot trades rumored below that level hinted
at further softening ahead. Prices at the top end remained unchanged at
$435-$440/mt FOB, however, leaving the market at a wide $405-$440/mt FOB
ex-warehouse for the week.