U.S. Gulf:
NOLA potash barges continued to be called $740-$770/st FOB, though some players said it was getting harder to find the lower end of the range.
Eastern Cornbelt:
Potash remained at $770-$790/st FOB in the Eastern Cornbelt, depending on location, with the Cincinnati market pegged at $785/st FOB during the week. The last quote for white potash in Michigan was reported at the $808/st FOB level. “There is very lackluster demand for potash right now,” commented one source.
Western Cornbelt:
Potash pricing was unchanged at $770-$790/st FOB in the Western Cornbelt, depending on location, with the low reported at St. Louis.
Northern Plains:
Sources quoted potash pricing at $780-$795/st FOB St. Paul for the last prompt offers. The latest prices FOB Saskatchewan mines for 2Q tons were reported at $728-$740/st after netbacks, depending on grade and destination.
Northeast:
Potash pricing was reported in the $785-$800/st FOB range in the Northeast.
Eastern Canada:
The potash market in Eastern Canada remained at C$1,050-$1,056/mt FOB warehouses, unchanged from early June levels.
China:
January-May 2022 imports of MOP were reported at 3.5 million mt by Trade Data Monitor, down from the 4.1 million mt imported during the same period 2021. The usual three large suppliers – Russia, Belarus, and Canada – accounted for 2.7 million mt of the imports.
May 2022 imports were down slightly at 543,000 mt from the 554,000 mt imported in May 2021. Canada accounted for 38% of the May imports with 208,000 mt; Russia for 28% with 150,000 mt; Belarus for 18% with 95,000 mt; and Laos for 12% with 65,000 mt. These four countries accounted for 95.5% of all MOP imports in May 2022.
Brazil:
The MOP price range in Brazil tightened as suppliers pushed back against buyers looking for bargains. Sources put the landed price at $1,050-$1,100/mt CFR.
Sellers noted that while they are anxious to move tons out of their warehouses, they remain uncertain about where they will get replacement tons. Sanctions against Belarus and Russia hang over the market, with buyers facing a number of uncertainties about future tons.
The price in Rondonópolis has tightened to $1,190-$1,205/mt FOB ex-warehouse.