All posts by mickeybarb@charter.net

Urea

Africa, Brazil, California, China, Eastern Cornbelt, India, Market Watch, Middle East, Pacific N.W., South Korea, Thailand, U.S. Gulf, Urea, Western Canada, Western Cornbelt

U.S. Gulf:

The NOLA granular urea range slipped to $422-$435/st FOB from the week-ago $430-$438/st FOB range.

Eastern Cornbelt:

Urea pricing remained in the $475-$485/st FOB range in the Eastern Cornbelt, with little new business reported to test the market.

Western Cornbelt:

The urea market was steady at $460-$480/st FOB in the Western Cornbelt, depending on location, with the St. Louis market pegged in the $470-$475/st FOB range.

California:

Urea pricing was steady at $590-$600/st FOB port terminals in California, with reports of bagged urea at the $660/st level FOB Stockton, Calif.

Pacific Northwest:

Urea continued to be posted at $525/st FOB Rivergate, Ore., and $530/st FOB Aurora, Ore., although sources said they anticipate slightly lower offers for August-September. Rail-DEL pricing was quoted at $525-$528/st in the Pacific Northwest, up slightly from last report.

Western Canada:

Urea prices in Western Canada firmed slightly in mid-July, to C$665-$675/mt DEL, depending on location and time of shipment, up from the last reported range of C$650-$675/mt DEL.

India:

The RCF tender closed on July 22 with 12 companies offering 1.651 million mt. East Coast offers were recorded at 711,500 mt and West Coast offers at 894,500 mt. An additional 45,000 mt was offered directly by producer PIC in Kuwait.

Prices were released on July 23. The lowest offer for the West Coast came from Gavilon at $516.95/mt CFR. Amber came in with the lowest East Coast price at $509.50/mt CFR.

The emphasis on the West Coast indicated to sources that there are limited hopes for large Chinese participation in the tender. Sources said the dampening of expectations of more Chinese product came after a growing chorus of government statements calling on the producers to ensure low-cost and plentiful supplies of urea for the domestic Chinese market before engaging in exports.

Offering Company East Coast West Coast Quantity Total
Quantity (mt) US$/mt CFR Quantity (mt) USD$/mt CFR
Amber 65,000 509.50 65,000 518.50 130,000
Ameropa 156,500 531.00 204,500 541.00 361,000
Continental 50,000 547.00 50,000 545.00 100,000
Dreymoor 50,000 540.00 52,000 529.00 102,000
Gavilon 95,000 524.50 47,000 516.95 142,000
Keytrade 45,000 539.00 45,000
Koch 50,000 550.00 46,000 550.00 96,000
Midgulf 60,000 533.00 60,000 543.00 120,000
Samsung 90,000 518.00 190,000 526.90 280,000
Swiss Singapore 45,000 515.00 135,000 520.40 180,000
Transglobe 50,000 545.00 50,000
 
Direct Offer from Producers  
Offering Company Quantity (mt) US$/mt FOB  
PIC 45,000 498.00  

Going into the tender, sources said they expected to see $520-$540/mt CFR, which is where the bulk of the offers were. The prices from Amber and Gavilon will now be the basis for counterbids to the other traders.

The total tonnage offered in this tender is the second lowest amount so far this year, besting only the 1.48 million mt offered in May, also to RCF. If the awards match the average take from the previous tenders, RCF will only buy 600,000-650,000 mt, a far cry from what is needed.

Sources said the market has accepted that another tender will most likely be called within three weeks. So far this year, because of urea prices and limited availability, none of the Indian tenders have resulted in the amount of urea the government deems necessary for the season.

Going into this tender, sources said the country was about 2 million mt behind in securing anticipated demand.

Sources said the market has accepted that another tender will most likely be called within three weeks.

So far this year, because of urea prices and limited availability, none of the Indian tenders have resulted in the amount of urea the government deems necessary for the season.

China:

The low price for the East Coast in the RCF/India tender shows a netback to China of $475-$480/mt FOB. Going into the tender, producers had been arguing for $480-$490/mt FOB.

Sources said as the deadline for the tender approached, at least four vessels were being lined up to take Chinese product to India. However, there are now reports that these arrangements have become more fluid.

The Assets Supervision and Administration Commission of the Chinese government called a meeting of all fertilizer producers on July 22. Sources said the main topic was to coordinate efforts to ensure a low-cost and steady supply of fertilizers for the Chinese market.

One trader speculated that the meeting could be a prelude to the imposition of export duties on nitrogen and phosphate fertilizers if the full cooperation of producers is not achieved.

The possibility that some tons might get pulled back from the portside warehouses or that an export tax might be imposed caused some international traders to be hesitant about committing to loading a vessel. Sources estimated there are 250,000-300,000 mt of urea stored in the warehouses for export. Most of those tons, said traders, were expected to be used in the RCF tender.

Exports in the first half of the year were reported at 2.4 million mt, representing a 41 percent jump from the same period last year, according to Trade Data Monitor. The main buyers so far this year have been India at 915,000 mt, South Korea at 376,000 mt, and Mexico at 208,000 mt.

June exports this year were up 117 percent, to 482,000 mt from 223,000 mt in June 2020. Again, India led the way at 233,000 mt, compared with 20,000 mt in June 2020. Second-quarter exports were up 74 percent, to 1.6 million mt from 934,000 mt during the same period last year.

Middle East:

Sources said the celebration of the Hajj and Eid al-Adha limited the amount of regular business being conducted in the area. No new spot deals were settled because all eyes in the market were turned to India.

The estimated netback to the Arab Gulf from the Indian West Coast, based on the Gavilon offer in the RCF tender, is in the upper-$480s/mt FOB, which is about $10/mt lower than the PIC offer in the tender.

Sources estimated that four or five cargoes from the Arab Gulf will be awarded in the RCF tender for a total of about 225,000 mt. At the same time, traders said they are keeping a close eye on demand in Brazil. If urea demand begins to wane, a cargo or two from the Arab Gulf originally booked for Brazil could be diverted to India.

No new deals were concluded in Egypt to move the price off the $465/mt FOB level for prills and $475/mt FOB for granular. Producers are arguing that the new granular price should be $480/mt FOB. The paper market leans toward the producers’ position. Sources said the market is quoting August and September prices at $477/mt FOB.

Iranian urea exports for the first half of the year nearly doubled, to 1.67 million mt from 878,000 mt during the same period last year, according to Trade Data Monitor. The major buyers so far this year were Turkey at 532,000 mt, Brazil at 189,000 mt, and South Africa at 118,000 mt.

June exports were up 81 percent, to 416,000 mt from 230,000 mt in June 2020. Turkey was the main buyer this year at 145,000 mt, followed by Tanzania at 69,000 mt and Brazil at 66,000 mt. Second-quarter exports were about even, at 878,000 mt compared with 886,000 mt in last year’s second quarter.

Ethiopia:

A tender for 150,000 mt of urea was called by the Ethiopian Agricultural Business Corp. (EABC) to close on July 26. Reportedly, the tender was called to make up for at least three cargoes from a September 2020 tender that were not delivered.

Sources said there are often problems in shipping material under the EABC tenders because of delays in issuing letters of credit or in clarifying logistics issues. One trader said the paperwork delayed the tons from the September tender so long that the price of the product exceeded the awarded price, and both sides ended up walking away from the deal.

Another tender is expected from EABC in late August.

Thailand:

Local media are reporting a shortage of urea in Thailand. Sources said government officials have ordered new purchases, but have not authorized higher prices.

One trader said the government wants the urea imported at levels that match the current domestic price, which is below the global market level. Sources said they expect to hear complaints from Thailand about pricing, but no tenders.

South Korea:

Urea imports in South Korea for the first half of this year were down 5.7 percent, to 489,000 mt from 518,000 mt last year, according to Trade Data Monitor. The main source of urea this year was China at 389,000 mt.

June imports this year were up marginally, to 58,000 mt from 55,000 mt in June 2020. China supplied 57,000 mt of the June 2021 urea. Second-quarter imports were also down marginally, to 226,000 mt from 230,000 mt last year. China once again dominated the second-quarter sales at 224,000 mt.

Brazil:

While Brazilian buyers are looking to the RCF/India tender for guidance on pricing, international traders are looking at Brazilian urea demand for clues as to product availability.

Sources said cargoes currently slated for shipment to Brazil in the near future could be diverted to cover an award from RCF if the price begins to soften in the South American country. Prices have come off slightly at Paranagua. Sources reported deals at $490-$520/mt CFR, down from last week’s levels in the $520s/mt CFR.

Even as the landed price softens, sources inland reported higher prices. Dealers in Rondonopolis said prices are now at $600-$665/mt FOB ex-warehouse, a jump of about $50/mt.

Inland prices could start going up and supplies could be limited. A union of independent truck drivers is considering a strike beginning on July 25. The drivers are saying they need higher prices for their services to cover a recent spike in fuel costs, while contractors have been pushing back against higher fees.

UAN

California, Eastern Cornbelt, Market Watch, Pacific N.W., U.S. Gulf, UAN, Western Canada, Western Cornbelt

U.S. Gulf:

The most recent NOLA UAN business was put at $285-$290/st ($8.91-$9.06/ unit) FOB, up from the week-ago $285/st FOB.

Nutrien reported that it has sold additional UAN barges this week for October shipment at $310/st NOLA base. These were concluded shortly after this week’s SWFC meeting in San Antonio and following the results of the Indian urea tender, which revealed the second-lowest volume offered this year, which the company said supports firmer nitrogen values. Nutrien said it is fully committed on UAN sales through September, and has confirmed several barges at the new price of $310/st for Q4 shipment.

Eastern Cornbelt:

The UAN fill offers from the previous week were still the major topic of conversation among regional sources. The fill program tons for Q3 shipment that CF released on July 14 included $310/st ($9.69/unit) FOB Mount Vernon, Ind., $312/st ($9.75/unit) FOB Jeffersonville, Ind., and $315/st ($9.84/unit) FOB Cincinnati, Ohio, and Kingston Mines, Ill.

Those prices were reportedly withdrawn on July 15, with CF releasing its second round of fill offers for a brief order period on July 16 at a $10-$15/st increase, to $320-$330/st ($10.00-$10.31/unit) FOB in the Eastern Cornbelt, depending on location. Sources said those offers, too, were withdrawn by the end of that day, with no new prices circulating since.

Western Cornbelt:

The previous week’s UAN fill prices were no longer on the table in the Western Cornbelt. Sources said producers quickly pulled the July 14 offers for 3Q shipment that included $300/st ($9.38/unit) FOB Verdigris, Okla.; $305/st ($9.53/unit) FOB Woodward, Okla., and Port Neal, Iowa; $310/st ($9.69/unit) FOB St. Louis, Mo.; and $310-$315/st ($9.69-$9.84/unit) FOB Fort Dodge, Iowa, and Beatrice, Neb.; and $315/st ($9.84/unit) FOB Dodge City, Kan.

CF returned to the market on July 16 with a second round of fill prices that were reportedly $10-$15/st higher than the first offers, but those prices were withdrawn as well later the same day. Sources said no pricing was being offered for prompt or fill tons in the wake of those mid-July programs.

California:

Sources saidsome UAN-32 fill tons were booked in California at mid-month at slightly lower values than the last reported prompt pricing. UAN-32 fill was reportedly offered at $355/st ($11.09/unit) FOB, down from $365/st ($11.41/unit) FOB for prompt. “There is a lot of caution on forward price risk and demand concerns,” commented one source.

The last rail-DEL UAN offers were quoted in the $370-$380/st ($11.56-$11.88/unit) range in the state.

Pacific Northwest:

Recent UAN-32 fill offers included $365-$395/st ($11.41-$12.34/unit) rail-DEL in the Pacific Northwest, down from the last prompt business at $405-$410/st rail-DEL. The local terminal market remained at $385-$390/st ($12.03-$12.19/unit) FOB for prompt tons in the region.

Western Canada:

The UAN-28 market in Western Canada was reported at C$410-$430/mt (C$14.64-$15.36/unit) DEL in mid-July, up from C$400-$420/mt (C$14.29-$15.00/unit) at last report, with the lower end of the range reported in Saskatchewan for August-September shipments.

Ammonium Nitrate

Ammonium Nitrate, France, Market Watch, Western Cornbelt

Western Cornbelt:

Ammonium nitrate remained at $420-$430/st FOB in the Western Cornbelt for the last offers.

France:

Yara on July 22 raised its list price for September deliveries of ammonium nitrate 33.5 percent (YaraBelaExtran 33.5) in France, setting the new posting at €390/mt bulk CPT, with immediate effect. The new price comes less than two weeks after the supplier announced the list price for its September deliveries at €380/mt bulk CPT (GM July 9, p. 7).

Yara once again warned that only limited volumes will be available. By its own admission in a second-quarter earnings call on July 16, the supplier said it has been “actively pushing” nitrates prices in Europe, and has been publishing new list prices “frequently” over the past several weeks.

Ammonium Sulfate

Ammonium Sulfate, Brazil, California, China, Eastern Cornbelt, Market Watch, Pacific N.W., U.S. Gulf, Western Canada, Western Cornbelt

U.S. Gulf:

Ammonium sulfate barges were reported in the $295-$300/st FOB range, down from the week-ago $300/st FOB. Sources said new import cargoes have entered the market, so prices have slipped a bit. However, IOC has reposted its PCI product to $340/st FOB NOLA, up from the previous $300/st FOB level.

Eastern Cornbelt:

The ammonium sulfate market remained in the $320-$350/st FOB range in the Eastern Cornbelt in mid-July, depending on location, with the low confirmed at Cincinnati, Ohio. Interoceanic (IOC) announced higher postings on July 22, however. The company’s new prices for PCI Nitrogen’s granular ammonium sulfate include $365/st FOB Delta terminals, $370/st FOB Illinois and Ohio River terminals, and $385/st FOB Tampa, Fla.

Western Cornbelt:

Ammonium sulfate prices were unchanged at $320-$350/st FOB in the region, with the low reported at St. Louis. IOC’s postings for granular ammonium sulfate firmed on July 22, however, to $325/st FOB Houston, Texas; $365/st FOB St. Louis, Mo.; $370/st FOB Upper Mississippi River terminals; and $390/st FOB Sioux City, Iowa.

IOC’s rail-DEL postings for granular ammonium sulfate firmed on that date as well, to $380/st in the Southern Plains and $390/st in the Northern Plains.

California:

Granular ammonium sulfate was steady at $325-$340/st FOB in California, with the low at Stockton. Standard grade continued to be referenced at the $318/st level FOB Chico and Woodland, Calif. Rail-DEL tons remained at $320-$345/st in the state, with the low for fine grade and the high for granular

Pacific Northwest:

Reference prices for ammonium sulfate in the Pacific Northwest were unchanged at $330/st FOB or DEL for standard and $363/st FOB or DEL for granular product in mid-July.

Western Canada:

Ammonium sulfate prices in mid-July were pegged at C$500-$510/mt DEL in Western Canada.

China:

Sources reported steady demand from regional buyers for Chinese caprolactam grade amsul. The price remains just under $200/mt FOB at $195-$198/mt FOB, despite arguments by producers that it should be higher.

Exports in the first half of the year were up 28 percent, to 4.6 million mt from 3.6 million mt during the same period last year, according to Trade Data Monitor. June exports were up 18 percent, to 698,000 mt from 591,000 mt in June 2020.Second-quarter exports were reported at 2.4 million mt, up 31 percent from last year’s 1.8 million mt.

Brazil remained China’s top customer. Brazil bought 810,000 mt during the first six months of the year, 443,000 mt in the second quarter, and 114,000 mt in June.

Brazil:

The landed ammonium sulfate price was quoted at $310-$330/mt CFR at Paranagua. Sources said there were few offers, but just enough movement to show market forces at work.

Trading activity in Rondonopolis stepped up, creating a wider gap in prices. Sources now put the amsul market there at $410-$454/mt FOB ex-warehouse. Sources said some of the movement comes from NPK blenders looking to use amsul instead of the more expensive urea for nitrogen content.

DAP/MAP

Brazil, California, Central Florida, China, DAP/MAP, Eastern Cornbelt, India, Indonesia, Market Watch, Pacific N.W., Pakistan, Saudi Arabia, U.S. Exports, U.S. Gulf, Western Canada, Western Cornbelt

Central Florida:

DAP trucks loading from Central Florida were quoted at $620/st FOB, steady from one week earlier. Truck-loaded MAP was also unchanged at $655/st FOB.

U.S. Gulf:

A quiet trading week led to tightening DAP prices, sources reported, while MAP barges remained flat.

Limited import DAP barge volumes were reported changing hands down to $610/st FOB early in the week, increasing from the prior week’s $600/st FOB floor, while offers and trades of domestically produced material continued to be quoted up to $615/st FOB, falling from the week-ago $630/st FOB ceiling. Despite the shifting values, most players described a cautious optimism in the NOLA barge markets heading into the late-summer season.

Minimal MAP trading led to steady week-over-week values, most players said. A $645/st FOB sale early in the week remained unconfirmed on July 22.

With few trades reported, the nearby DAP barge market was noted tightening to $610-$615/st FOB, compared with the week-ago $600-$630/st FOB range. MAP values held steady at the prior week’s range of $648-$650/st FOB.

U.S. Exports:

Sources reported no new export transactions out of the U.S. Gulf for the week. Recent transactions consisted of a roughly 10,000 mt DAP load priced at $660/mt FOB, as well as a 5,000 mt MAP trade quoted at $685/mt FOB. Both cargoes were destined into Latin America, with shipping slated for late July or early August.

Lacking in fresh data points, the Gulf DAP export market continued to be called $660/mt FOB, while MAP held steady at $685/mt FOB.

Eastern Cornbelt:

DAP was unchanged at $645-$655/st FOB in the Eastern Cornbelt, depending on location. MAP was pegged in the $677-$700/st FOB range in the region, with the low reported at East Dubuque, Ill. The Cincinnati market remained at $645-$655/st FOB for DAP and $685-$695/st FOB for MAP during the week.

Western Cornbelt:

DAP pricing was steady at $640-$650/st FOB in the Western Cornbelt in mid-July, with the lower end of the range confirmed at St. Louis. MAP remained in a broad range at $675-$700/st FOB, with the high reported at Dubuque, Iowa, and the low at St. Louis.

California:

MAP pricing was steady at $750/st rail-DEL and FOB French Camp, Helm, Richvale, Dixon, and El Centro in mid-July.

Pacific Northwest:

The MAP market in the Pacific Northwest remained at $737/st FOB Aurora, $740/st DEL in Washington, Oregon, and Nevada, and $730/st DEL in Idaho, Utah, and Montana.

Western Canada:

MAP prices were edging higher in Western Canada amid a weakening Canadian dollar. The market in mid-July was quoted at C$1,005-$1,020/mt FOB and C$1,010-$1,030/mt DEL, up C$35/mt at the low end of the DEL range.

Saudi Arabia:

The Saudi Arabia phosphate market was noted firming to the $585-$605/mt FOB range for the last business, up from $565-$580/mt FOB reported one week earlier.

China:

The Chinese DAP market was quiet. Sources said the price of $600/mt FOB is keeping many potential buyers away, with few indicators that prices will come down soon.

Ammonia traders noted that the high price of their product is directly hurting DAP producers and their efforts to sell. At the same time, many of the Chinese producers are not in a position that they need to sell product.

Output in the major DAP producing areas is severely down. Plants in Hubei Province are reportedly running at 65 percent of their rated capacity, while plants in Yunnan Province and Ghizhou Province are reported at 60 percent and 50 percent of rated capacity, respectively. Major producer YUC is said to be running at half of its 4.5 million mt/y capacity.

Besides facing higher prices for inputs such as sulfur, ammonia, and phos rock, producers are just getting over cutbacks in electricity as the power grid diverted power to residential use for air conditioning.

Even with the cutbacks, DAP exports were up 58 percent in the first half of the year, to 3.2 million mt from 2 million mt during the same period last year, according to Trade Data Monitor. The main buyers so far this year were India at 827,000 mt, Pakistan at 488,000 mt, Thailand at 385,000 mt, Vietnam at 270,000 mt, and Japan at 218,000 mt.

Second-quarter DAP exports were up 88 percent, to 2.3 million mt from 1.2 million mt last year. June exports this year were up 64 percent, to 914,000 mt from 557,000 mt in June 2020.

India:

The maximum retail price for DAP set by the government, in addition to no further subsidy help, has importers and producers in a bind in India. Demand is strong for DAP, but any imported tonnage would end up being sold at a loss. Likewise, the rising costs of inputs to make DAP have pushed the break-even price beyond the allowed price to farmers.

Sources said importers have been engaged in talks with Chinese and Arab producers to secure lower-priced material, but to no avail. At the same time, the domestic producers and importers are also arguing for more subsidies from the Indian government to allow sales to once again pick up.

Pakistan:

A deal between Engro and Yihua for a cargo of DAP came in at $610-$615/mt CFR. The price reflects some discounting from where Chinese producers see the market.

As prices for DAP keep rising, the government is reportedly ready to increase subsidies to ensure farmers have all the DAP they need.

Indonesia:

Of the multiple tenders that closed late last week, sources said only the 60,000 mt Gresik tender was awarded.The tender calls for three lots of 20,000 mt each, with the shipment of each lot in August, October, and December. Gresik did not reveal the settled price, and neither did the trading house that handled the deal.

Brazil:

The Paranagua MAP price showed a slight increase on the low end of the range, to $755-$770/mt CFR. Demand reportedly is still coming in for farmers looking to top-off their needs for the 2022 corn crop.

The demand from farmers has also moved up the Rondonopolis MAP price, which sources now report at $850-$855/mt FOB ex-warehouse. The price reflects a rebound as additional farmer demand kicks in.

Phosphoric Acid

California, Eastern Cornbelt, India, Market Watch, Pacific N.W., Phosphoric Acid, U.S. Exports, Western Cornbelt

U.S. Export:

North American phosphoric acid producers on July 20 confirmed the settlement of updated quarterly agreements with buyers in India, matching previously reported deals from OCP valued at $1,160/mt P2O5 CFR.

Eastern Cornbelt:

Phos acid prices remained at $13.15/unit rail-DEL in Illinois and Wisconsin, and $13.30/unit rail-DEL in Ohio for July shipments.

Western Cornbelt:

Phos acid pricing for July was steady at $13.05/unit rail-DEL in Nebraska, Missouri, and Iowa.

California:

The phos acid market remained at $13.75/unit rail-DEL in California for July shipment, with MGA referenced at the $13.95/unit level FOB Lathrop and El Centro. Sources said they expect no pricing changes for August.

Pacific Northwest:

The phosphoric acid market was unchanged at $13.25/unit FOB Pocatello, Idaho, and $13.75/unit rail-DEL in the Pacific Northwest for July tons.

India:

Quarterly India phos acid contracts were valued at $1,160/mt P2O5 CFR, a $162/mt increase from $998/mt P2O5 CFR in the prior period. The price covered material loading from both Morocco and North America.

Ammonium Polyphosphate

Ammonium Polyphosphate, California, Eastern Cornbelt, Market Watch, Pacific N.W., Western Canada, Western Cornbelt

Eastern Cornbelt:

10-34-0 was steady at $580-$600/st FOB in the Eastern Cornbelt for the last reported offers, with the low reported at Cincinnati.

Western Cornbelt:

The 10-34-0 market remained at $575-$595/st FOB in the Western Cornbelt.

California:

The10-34-0 market was quoted at $603-$608/st FOB in California, unchanged from last report, with the 11-37-0 market pegged at $672-$677/st FOB in the state for July tons.

Pacific Northwest:

The 10-34-0 market remained at $605-$610/st FOB in the Pacific Northwest, with the posted price FOB Hedges, Wash., at the $609/st level. Delivered 10-34-0 was pegged at the $635/st level in Idaho and Utah.

11-37-0 was reported at $659/st FOB Hedges in mid-July.

Western Canada:

10-34-0 remained at a firm C$850/mt DEL for the last reported offers in Western Canada.

Muriate of Potash

Brazil, California, China, Eastern Cornbelt, Market Watch, Pacific N.W., Potash, U.S. Gulf, Western Canada, Western Cornbelt

U.S. Gulf:

NOLA potash barges were generally put in the $525-$550/st FOB range, up from the week-ago $510-$540/st FOB. Most were expecting the next trade to occur in the $550-$560/st FOB range, although some thought the market may have topped out at $550/st FOB.

Eastern Cornbelt:

Potash was quoted at $555-$595/st FOB in the Eastern Cornbelt, depending on location, with the Cincinnati market pegged in the $585-$595/st FOB range for limited offers.

Western Cornbelt:

Sources quoted the potash market at $545-$575/st FOB in the Western Cornbelt, depending on location, with the St. Louis market pegged at the $560-$570/st FOB level.

California:

Potash pricing in California remained at $535/st FOB for 60 percent and $545/st FOB for 62 percent MOP, with rail-DEL offers reported in roughly the same range.

Pacific Northwest:

Potash pricing was steady at $460-$470/st FOB and $470-$480/st DEL in the Pacific Northwest. Potash postings from Intrepid FOB Moab and Wendover, Utah, included $540/st for 60 percent white standard and $535/st for 60 percent white granular.

Western Canada:

The Western Canada potash price was steady at C$560/mt FOB Saskatchewan mines for limited truck tons.

China:

First semester imports of MOP in China were up 18.5 percent, to 4.6 million mt from 3.9 million mt during the same period in 2020, according to Trade Data Monitor.The three main suppliers were Canada at 1.3 million m, Russia at 1.26 million mt, and Belarus at 1.1 million mt.

Second-quarter imports were up 16 percent, to 2 million mt from 1.7 million mt last year. June 2021 imports totaled 499,000 mt, up slightly from the June 2020 total of 494,000 mt.

Brazil:

Potash demand remains strong in Brazil against limited supplies. The price range tightened to $610-$650/mt CFR at Paranagua. Sources said the issue is that buyers want the product, but are hesitant to allow prices to run amok. At the same time, supplies at the ports are said to be limited.

Inland prices are also seeing an increase. Buyers also continue to express concern that queries for product to major suppliers are usually rebuffed because of limited or no product available. The Rondonopolis prices is now reported at $750-$801/mt FOB ex-warehouse, representing an increase of about $55/mt.