US Gulf:
The NOLA potash barge market remained at $315-$320/st FOB for new business during the week.
Potash was steady at $365-$395/st FOB in the Eastern Cornbelt, depending on location, grade, and time of shipment, with the low reported out of Illinois River terminals on a spot basis. The Cincinnati market remained at the $375-$380/st FOB level for prompt tons. Michigan warehouses were pegged at $415-$423/st FOB, depending on grade.
Western Cornbelt:
Potash was unchanged at $365-$385/st FOB in the Western Cornbelt, with the low confirmed at St. Louis and the high in Iowa. The Caruthersville potash market was pegged at the $375/st FOB level during the week.
Southern Plains:
Potash was unchanged at $370-$380/st FOB Catoosa/Inola and Houston for prompt truck tons. The last postings from the company FOB Carlsbad, N.M., remaining at $445/st for 60% white granular and $453/st for 62% white standard.
South Central:
Potash slipped to $365-$375/st FOB warehouses in the South Central region, down from the prior $370-$385/st FOB range, with the low confirmed at Memphis.
Southeast:
Potash pricing in the Southeast dropped to $345-$350/st FOB port terminals, with the low reported at Wilmington during the week.
Southeast Asia:
No price changes were reported for standard or granular potash in Southeast Asia. Sales of Russian material were rumored within the existing ranges but could not be confirmed.
Some demand development is anticipated in March when Indonesian buyers are expected to return with a tender, after imports in 2023 fell 25% from 2022, to 2.5 million mt, according to customs data.
Northwest Europe:
Spring demand has yet to materialize for granular potash in Northwest Europe, with minimal truckloads moving at or below replacement costs. With market sources expressing few reasons for a bullish outlook this spring, prices have slipped €5/mt as some suppliers are willing to offer discounts to spur liquidity.
Brazil:
Potash imports declined by $10/mt at the top of the range, settling at $280-$290/mt CFR. While sellers believe the market may have found a floor, buyers continued to bid closer to $260/mt CFR, equivalent to some inland prices.
Competition has remained fierce in the Rondonópolis potash market. Offers were generally positioned in the $400-$410/mt FOB ex-warehouse range during the week, down from $400-$415/mt FOB at last report, though sources noted one-off offers for large volumes as low as $370-$380/mt FOB.