US Gulf:
Last-done NOLA barge business continued to be called $370-$380/st FOB. Barges remained in tight supply, leading some players to speculate that the next round of trading would land in the $390-$395/st FOB range.
Eastern Cornbelt:
Fueled by tight supply and strong demand, potash was quoted at $450-$500/st FOB in the Eastern Cornbelt, up from last week’s $435-$475/st FOB, with the Cincinnati market pegged at $450-$475/st FOB during the week. The high end of the range was confirmed out of inland warehouses in the region.
Western Cornbelt:
Potash firmed to $450-$500/st FOB in the Western Cornbelt, up from last week’s $435-$470/st FOB, with St. Louis offers reported in the $460-$500/st FOB range during the week.
Northern Plains:
Sources reported potash pricing at $460-$475/st FOB St. Paul, with delivered tons quoted at the $450-$470/st level in the Northern Plains. The latest prices FOB Saskatchewan mines were reported at $462-$472/st, depending on grade.
Northeast:
Potash was quoted at $465-$475/st FOB in the Northeast, with the high confirmed for prompt tons at East Liverpool and the low for late May-June offers at Fairless Hills pending the arrival of a new vessel. Delivered tons were quoted at $480-$490/st in Pennsylvania in late April.
Eastern Canada:
Potash pricing in Eastern Canada remained at C$740-$745/mt FOB regional warehouses.
India:
While neither ICL nor Arab Potash Co. (APC) have made any official public announcements, market sources reported that the two companies have settled new potash supply contracts with IPL, India’s biggest potash importer. The deals reportedly matched the new contract price of $422/mt CFR with 180 days’ credit set by Uralkali and Canpotex earlier this month (GM April 7, p. 14).
As with Uralkali and Canpotex, the new ICL and APC contracts are for six months, set to run through Sept. 30. Volumes negotiated under the new deals were not available.
Brazil:
The price range of potash widened as more material from Belarus became available, sources said. The landed price is now pegged at $380-$430/mt CFR, with the sub-$400/mt CFR prices attached to the Belarusian material. Potash from Chile and Russia was pegged at $400-$415/mt CFR, with potash from other sources coming at the higher end of the range.
The price in Rondonopolis tightened to $540-$550/mt FOB ex-warehouse as most buyers sit on the sidelines. Buyers pushed for $530/mt FOB, but no trades were reported at that level.
South Korea:
Potash imports for January-March were reported at 161,000 mt, according to Trade Data Monitor, a marginal decrease from 167,000 mt imported through the first quarter of 2022.
March imports firmed 26%, to 99,000 mt from the year-ago 79,000 mt. The market’s main suppliers were Canada with 67,000 mt and Israel with 24,000 mt.