US Gulf:
NOLA potash barges were reported at a flat $270/st FOB for the latest trades.
Potash was unchanged at $315-$335/st FOB in the Eastern Cornbelt, with the Cincinnati market pegged at $320-$330/st FOB at mid-month. The latest offers FOB Ottawa and LaSalle included $325/st for August-September tons, while delivered prices in central Michigan remained at the $350/st level for August-September.
Western Cornbelt:
Potash was unchanged at $315-$330/st FOB in the Western Cornbelt, with the low reported at St. Louis. Rail-DEL offers in Iowa were reported at $335-$345/st in late August.
Southern Plains:
Potash in the Southern Plains was reported at $315-$325/st FOB regional warehouses, depending on location and supplier, down $5-$15/st from last report. The latest potash reference prices from Intrepid FOB Carlsbad, N.M., were $405/st for 60% white granular and $413/st for 62% white standard.
South Central:
Warehouse potash pricing in the South Central region slipped to $315-$325/st FOB, down $10/st from last report at the top of the range.
Southeast:
Potash pricing slipped to $305-$315/st FOB Wilmington, N.C., for the latest offers, down from the prior $315-$335/st FOB range.
Northwest Europe:
Potash prices in Northwest European were unchanged this week, with standard potash at €315-€330/mt CIF and granular at €330-€350/mt CIF. Little change is anticipated before mid-September, when players expect updated producer prices.
Southeast Asia:
Despite the lack of substantial activity, standard potash prices in the region moved up $5/mt on the low end, to $280-$290/mt CFR. Granular potash was stable at $330-$340/mt CFR.
Further direction is expected from the outcome of Pupuk Indonesia’s import tender, which closed on Aug. 23. Reports of offers in the $300-$305/mt CFR range could not be confirmed by press time. Pupuk’s last tender award was at $299/mt CFR back in June.
India:
Israel’s ICL announced on Aug. 28 that it has reached an agreement with long-term customer Indian Potash Ltd. (IPL) for the supply of 420,000 mt of potash through December 2024. The agreement is within the framework of the five-year supply agreement with IPL for the years 2022-2027, which was signed in March 2022.
The sales price was not disclosed but is reported in line with the prevailing Indian contract price of $279-$283/mt CFR. The Israeli producer said it has sold out the entirety of its standard and fine potash for the year.
Brazil:
Potash imports softened to a flat $290/mt CFR, off $5/mt from the top of the prior range. While some sellers have continued to report offers at $300-$305/mt CFR, sources referenced unconfirmed reports of a purchase at $280/mt CFR.
Rondonópolis slipped to $420-$430/mt FOB, a $5/mt decline at the high side of the range, with players noting balanced supply and demand conditions. The market’s price consolidation resulted in a slight reduction in the number of available offers, sources said.